MIRA
INFORM REPORT
|
Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
Tower XIV, Cybercity, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.12.1997 |
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Com. Reg. No.: |
11-112441 |
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Capital
Investment / Paid-up Capital : |
Rs. 2783.574 Millions |
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CIN No.: [Company Identification
No.] |
U74220PN1997PTC112441 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ00773D |
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PAN No.: [Permanent Account No.] |
AAACJ4233B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is mainly engaged in the manufacturing and marketing of
tractor and related products (agriculture products) and providing IT and IT
enabled services. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 63000000 |
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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 a subsidiary of “JOHN DEERE ASIA (SINGAPORE) PTE LIMITED”.
It is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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 PARTED DECLINED
MANAGEMENT NON CORPORATIVE (91-20-66425013)
LOCATIONS
|
Registered Office / Technology Center : |
Tower XIV, Cybercity, Magarpatta City Hadapsar, Pune – 411 013,
Maharashtra, India |
|
Tel. No.: |
91-20-66425013/ 66425000/ 67264510 |
|
Mobile No.: |
91-9687631126 (Mr. Ram Krishna) |
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Fax No.: |
91-20-66425001 |
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E-Mail : |
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Website : |
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Factory 1 : |
Off Pune Nagar Road, Sanaswadi, Pune - 412208, Maharashtra, India |
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Tel. No. : |
91-2137-667111 |
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Factory 2 : |
Survey No. 501, Near Dewas-Bhopal Highway, Village-Khatamba, Post-Jamgod,
District-Dewas – 455115, Madhya Pradesh, India |
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Factory 3 : |
Sanghar Warehousing, Gat 26/1 and 27, Nagar Road, Lonikand, Pune –
412216, Maharashtra, India |
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Factory 4 : |
Village-Amampur, Chalaila Road, District-Patiala-147001, Punjab, India |
DIRECTORS
As on 06.06.2014
|
Name : |
Mr. Rajesh Kumar Sinha |
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Designation : |
Director |
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Address : |
Y-602, Sacred Heart Town, Waneworie, Pune-411040, Maharashtra, India |
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Date of Birth/Age : |
16.07.1969 |
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Date of Appointment : |
04.05.2013 |
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Din No.: |
06448595 |
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Other Directorship:
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Name : |
Mr. Satish Bhimarao Nadiger |
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Designation : |
Managing Director |
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Address : |
No.601, Building A3, Aditya Shagun, NDA, Pashan Road, Bavadhan, Pune –
411 021, Maharashtra, India |
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Date of Birth/Age : |
13.01.1963 |
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Date of Appointment : |
30.08.2012 |
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Din No.: |
00633892 |
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Other Directorship:
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Name : |
Mr. Ravi Achyutha Menon |
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Designation : |
Director |
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Address : |
606, Cosmos Building R, Magar, Patta City, Hadapsar, Pune – 411 028,
Maharashtra, India |
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Date of Birth/Age : |
15.07.1961 |
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Date of Appointment : |
13.07.2012 |
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Din No.: |
05344407 |
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Name : |
Mr. Ravi Chudamani Guttal |
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Designation : |
Director |
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Address : |
5021, Black Hawk Tran CT, Bettendore IA 411028, USA |
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Date of Birth/Age : |
07.06.1967 |
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Date of Appointment : |
04.05.2013 |
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Din No.: |
06453125 |
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Name : |
Mr. Ritu Raj |
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Designation : |
Director |
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Address : |
A-702, Water Front, Kalyani Nagar, Pune – 411006, Maharashtra, India |
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Date of Birth/Age : |
16.03.1971 |
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Date of Appointment : |
06.06.2014 |
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Din No.: |
06762617 |
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KEY EXECUTIVES
|
Name : |
Mr. Ajit Prakash Jain |
|
Designation : |
Secretary |
|
Address : |
Flat No.602, Building D/1, Bramha Suncity, Vadgaon Sheri, Pune – 411
014, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1974 |
|
Date of Appointment : |
02.06.2012 |
|
Pan No.: |
ABMPJ8624L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
John Deere Asia (Singapore) Private Limited,
Singapore |
|
278357343 |
|
Deere and Company, US |
|
10 |
|
Total |
|
278357353 |
As on 06.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(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 mainly engaged in the manufacturing and marketing of
tractor and related products (agriculture products) and providing IT and IT
enabled services. |
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Products : |
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Export Countries : |
· USA · Latin America · Africa · Turkey · Europe · Mexico ·
South East Asia |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
·
Industrial Investment Bank of India Limited, 19,
Netaji Subhas Road, Kolkata – 700 001, West Bengal, India ·
State Bank of India, S.B. Road Branch, Pune,
Maharashtra, India |
|
|
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Beasant Road, Opposite Shivsagar Industrial Estate,
Worli, Mumbai - 400018, Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN No: |
ASDFG1234H |
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Holding Company : |
John Deere Asia Singapore Private Limited, Singapore |
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Ultimate Holding Company : |
Deere and Company |
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Fellow Subsidiaries : |
·
John Deere Werke Mannheim ·
John Deere Water Limited ·
John Deere (China) Incestment Company ·
John Deere (Jiamusi) Agricultural ·
Industrias John Deere S.A. de C.V. ·
John Deere Israel ·
John Deere Asia (Singapore) Pte Limited ·
John Deere (Pty) Limited ·
JD Worldwide C and F ·
John Deere Canada, ULC ·
John Deere Makinalari Limited, Sirketi ·
John Deere International GmbH ·
John Deere Polska Sp. Z O. O. |
|
|
|
|
Subsidiaries : |
·
John Deere Financial India Private Limited ·
Deere Credit Services, Inc. ·
John Deere Canada Elk ·
John Deere (China) Investment Company, ·
John Deere Brasil Limited ·
John Deere S.A.S. ·
John Deere, Unite De Orleans-Saran ·
John Deere Iberica, S.A. Madrid ·
John Deere (Tianjin) Product Research ·
John Deere (Tianjin) Company, Limited ·
John Deere Brasil Ltda. ·
John Deere Enschede B.V. ·
Maschinenfabrik Kemper ·
John Deere(Ningbo) ·
Motores John Deere, S.A. De C.V. ·
Phoenix International ·
Industrias John Deere S.A. Decv ·
John Deere shared services Inc. ·
John Deere Thibodaux, Inc. ·
John Deere Fabriek Horst Bv ·
John Deere (Jiamusi) Agricultural ·
Deere Power Systems Group ·
John Deere (Pty.) Limited ·
John Deere Limited (England) ·
John Deere Ibérica, S.A. ·
John Deere Italiana S.R.L. ·
John Deere Tiantuo Company Limited ·
John Deere Limited Australia |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
653641000 |
Equity Shares |
Rs.10/- each |
Rs.6536.410 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
278357353 |
Equity Shares |
Rs.10/- each |
Rs. 2783.574 Millions |
|
|
|
|
|
FINANCIAL
DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
2783.570 |
3448.570 |
3448.570 |
|
(b) Reserves & Surplus |
13039.800 |
14468.370 |
12562.040 |
|
(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) |
15823.370 |
17916.940 |
16010.610 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3900.980 |
3799.950 |
3559.150 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
6.630 |
|
(c) Other long term liabilities |
245.950 |
223.940 |
259.090 |
|
(d) long-term provisions |
2812.240 |
358.540 |
283.040 |
|
Total Non-current Liabilities (3) |
6959.170 |
4382.430 |
4107.910 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6796.820 |
6506.610 |
6624.860 |
|
(c) Other current
liabilities |
1157.780 |
788.670 |
601.600 |
|
(d) Short-term provisions |
1406.370 |
1008.660 |
1113.120 |
|
Total Current Liabilities (4) |
9360.970 |
8303.940 |
8339.580 |
|
|
|
|
|
|
TOTAL |
32143.510 |
30603.310 |
28458.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7728.930 |
5720.740 |
4951.330 |
|
(ii) Intangible Assets |
24.350 |
16.450 |
18.030 |
|
(iii) Capital
work-in-progress |
958.220 |
1157.980 |
529.130 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1900.000 |
400.000 |
20.000 |
|
(c) Deferred tax assets (net) |
975.400 |
102.950 |
0.000 |
|
(d) Long-term Loan and Advances |
2564.200 |
4746.670 |
409.260 |
|
(e) Other Non-current assets |
671.140 |
343.850 |
460.170 |
|
Total Non-Current Assets |
14822.240 |
12488.640 |
6387.920 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4543.450 |
4523.440 |
7313.010 |
|
(c) Trade receivables |
5325.470 |
7861.800 |
7327.890 |
|
(d) Cash and cash
equivalents |
2273.860 |
4668.710 |
3952.520 |
|
(e) Short-term loans and
advances |
4662.130 |
692.460 |
3230.390 |
|
(f) Other current assets |
516.360 |
368.260 |
246.370 |
|
Total Current Assets |
17321.270 |
18114.670 |
22070.180 |
|
|
|
|
|
|
TOTAL |
32143.510 |
30603.310 |
28458.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
53316.000 |
42132.000 |
39878.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
48407.000 |
38380.000 |
35392.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4909.000 |
3752.000 |
4486.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
232.000 |
298.000 |
18.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4677.000 |
3454.000 |
4468.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
923.000 |
749.000 |
648.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3754.000 |
2705.000 |
3820.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1112.000 |
653.000 |
1132.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2642.000 |
2052.000 |
2688.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) FROM DISCONTINUING OPERATIONS |
(280.000) |
(146.000) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9005.000 |
7098.000 |
4410.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATED FOR
SHARE BUY BACK |
(3577.000) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7790.000 |
9005.000 |
7098.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
9.49 |
7.37 |
9.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.96 |
4.87 |
6.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.04 |
6.42 |
9.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.26 |
9.35 |
13.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.15 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25 |
0.21 |
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
2.18 |
2.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3448.570 |
3448.570 |
2783.570 |
|
Reserves & Surplus |
12562.040 |
14468.370 |
13039.800 |
|
Net
worth |
16010.610 |
17916.940 |
15823.370 |
|
|
|
|
|
|
long-term borrowings |
3559.150 |
3799.950 |
3900.980 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
3559.150 |
3799.950 |
3900.980 |
|
Debt/Equity
ratio |
0.222 |
0.212 |
0.247 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
39878.000 |
42132.000 |
53316.000 |
|
|
|
5.652 |
26.545 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
39878.000 |
42132.000 |
53316.000 |
|
Profit |
2688.000 |
2052.000 |
2642.000 |
|
|
6.74% |
4.87% |
4.96% |
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 |
----- |
|
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 |
NOTE:
The registered office of the company has been shifted from JHN Deere Technology Centre, Cyber City,
Magarpatta City, Hadapsar, Pune – 411 013, Maharashtra to present address
w.e.f. 01.04.2010.
[Rs.
in Millions]
|
Unsecured Loan |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowings |
|
|
|
Term Loan From Other |
3900.980 |
3799.950 |
|
TOTAL
|
3900.980 |
3799.950 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
OPERATIONS
Total domestic tractor
industry sale was 634,153 numbers against 527,441 numbers of last financial
year. The company recorded total sales of 51,035 numbers of tractors against
46,930 numbers of tractors sold during the previous year. In the domestic
market, the company recorded a sale of 37,508 units against 29,801 units sold
during the last Financial Year recording an increase of 25.9%. Domestic market
share of the company was 5.9% in the current Financial Year compared to 5.7%
during the previous Financial Year. The new Tractor factory in Dewas, Madhya
Pradesh has started commercial production during the current financial year.
The Company
recorded total sales of 104 numbers of grain harvester against 41 numbers of
grain harvester sold during the previous year from its Sirhind Combine
manufacturing facility.
During the year
the Company continued its progress in providing IT and IT enabled services. The
business has created substantial value to the parent company and is also the
Net Positive Foreign Exchange earner in the year. The Product Engineering
Centre (PEC) continued to provide Engineering Support. Your Company continued
to provide the best-in-class quality products and innovative services to
farmers, such as agricultural equipment, micro irrigation, after-sales service
and installation, advisory services. Deere & Co has reached to a definitive
agreement to sell its Water business worldwide which shall also include India
water operations. The closing of the transaction is expected by end of May
2014.
FIXED ASSETS
Tangible Assets
·
Furniture and
Fixtures
·
Office Equipment
·
Computers
·
Building
·
Leasehold
Improvements
·
Motor Cars
·
Plant and Machinery
Intangible Assets
·
Software and
Licenses
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 records 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] 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.61.46 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable 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.