MIRA
INFORM REPORT
|
Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PENTAIR VALVES AND CONTROLS INDIA PRIVATE LIMITED (w.e.f. 23.05.2013) |
|
|
|
|
Formerly Known
As : |
TYCO VALVES AND
CONTROLS INDIA PRIVATE LIMITED MULTI SARASIN
VALVES LIMITED |
|
|
|
|
Registered
Office : |
302/A, Ivory
Terrace, |
|
|
|
|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.06.1981 |
|
|
|
|
Com. Reg. No.: |
04-004441 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.189.986
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999GJ1981PTC004441 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT00697E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8809L |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and
Exporter of Industrial Valves. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Safety Systems UK Pte Limited”. It is an
established company having satisfactory track. The company possesses a decent financial profile marked by sound
networth base along with favourable gap between trade receivables and
payables with sufficient debt protection metrics. Moreover, the management has reported a decent sales volume as well as
net profitability during FY 13. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of support from its holding company, the subject can be
considered 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
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 BY
|
Name : |
Mr. Sandeep Kashekar |
|
Designation : |
Commercial Manager |
|
Contact No.: |
91-2676-300200 |
|
Date : |
07.10.2014 |
LOCATIONS
|
Registered Office : |
302/A, Ivory
Terrace, R.C. Dutt Road, Alkapuri, Vadodara – 390005, Gujarat, India |
|
Tel. No.: |
91-2676-300200 91-265-2359503 /
2331944 |
|
Fax No.: |
91-2676-220162 91-265-2336926 |
|
E-Mail : |
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|
Website : |
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|
Location: |
Owned |
|
|
|
|
Corporate Office : |
804, Windser House,
Kalina, Santacruz (East), Mumbai, Maharashtra, India |
|
|
|
|
Branch Office : |
No.23, C Mandira
Apartments, No.3A, 3rd Floor, T Nagar, Chennai – 600017,
Tamilnadu, India |
|
|
|
|
Factory : |
Survey No. 150,
Maghasar Halol – |
|
Tel. No.: |
91-2676-220461 /
220056 / 300200 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Iqbal Singh
Malhotra |
|
Designation : |
Managing Director |
|
Address : |
4th
Floor, Plot No. 31, Vithal Nagar, JVPD Scheme of 10th Road, Vile
Parle (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1949 |
|
Qualification : |
B. E. Mechanical |
|
Date of Appointment : |
10.04.2006 |
|
Pan No. : |
AGJPM8987F |
|
Din No.: |
02132718 |
|
|
|
|
Name : |
Pak Leung Steven Leung |
|
Designation : |
Director |
|
Address : |
Unit 801, No. 7, Lane 168, |
|
Date of Birth/Age : |
16.09.1956 |
|
Date of Appointment : |
18.12.2008 |
|
DIN No.: |
02510944 |
|
|
|
|
Name : |
Mr. Dilip Ranjan Sahoo |
|
Designation : |
Director |
|
Address : |
16th Floor, Flat No. 1603, Villa Royale, Hiranandani
Estate, Patalipada, Thane (West) Zone 4, Thane-400607, |
|
Date of Birth/Age : |
21.11.1968 |
|
Date of Appointment : |
21.07.2010 |
|
Din No.: |
03150361 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Kashekar |
|
Designation : |
Commercial Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Iqbal Singh
Malhotra |
1 |
|
Safety Systems UK Pte Limited, Singapore |
18998638 |
|
Total |
18998639 |
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 : |
Manufacturer and
Exporter of Industrial Valves. |
||||||
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|
||||||
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· HDFC Bank, Baroda Branch, Gujarat, India · State Bank of India, G and I Division, Baroda Branch, Gujarat, India ·
Citi Bank, Alkapuri, Baroda, Gujarat, India |
|
|
|
|
Facilities : |
-- |
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|
|
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Banking
Relations : |
--- |
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|
|
|
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Auditors : |
|
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
Address : |
Deloitte Haskins And Sells Heritage, 3rd Floor Near Gujarat
Vidhyapith Ashram Road, Ahmedabad – 380014, Gujarat, India |
|
|
Tel. No.: |
91-265-2333776 |
|
|
Fax No.: |
91-265-2339729 |
|
|
PAN No.: |
AADFD2337G |
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Holding Company: |
Safety Systems UK Pte Limited [Formerly Tyco India (Singapore) Private Limited |
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Associates : |
· Anderson greenwood · Anderson Greenwood Company - U K · Anderson Greenwood Company - Houstonusa · Anderson greenwood Instrumentation Product · Anderson Greenwood-Harlingen · Anderson Greenwood-Kunkle · Beijing Keystone Valve Company Limited · Biffi Italy S.R.L. · Dewrance · Erhard Gmbh and Company - Germany · Emirates Techno Casting - Fze Middle East · Fasani · Flow Control Technologies · Hindle Cock burns Limited · Industra-Comeriode Equip. Industrial S.A · Kd Valves S.A.S. · Keystone Valve (China),Shenzhen Plant · Keystone Valve (Uk) Limited · Keystone Pacific (Export) · Keystone Valves (Korea) Limited · Keystone Valves Inc. Usa · Kitamura Valve Mfg. Company Limited · Ktm Ball Valve Mfg. Company Limited -China · Ktm Ball Valve - Japan · Kunkle Usa · Key Stone Valves - UK · Key Stone Valves - Breda · Key Stone Valves - Taiwan · Key Stone Valves - Ukglasgow · Narvikyarway B.V · Neotecha - Switzerland · Neotecha - Ag · Penberthy · Raimondi · Raphael Valves Industries (1975) Limited · Safety Systems UK Limited (Whessoe) · Sakhi Raimondi Valves (India) Limited · Sapag · Sempell Aktiengesellschaft · Taiwan Valve Company Limited · Tvcwest - Denver · Tyco - Belgium A/C · Tyco Electronics Systems India Private Limited · Tyco Fire and Building Products - Ansul US · Tyco Fire and Building Products Asia Pte Limited · Tyco Fire and Security India Private Limited · Tyco Fire and Building Products asiapte. Limited, Singapore · Tyco fire products customer service center, Marinette, Wi, USA · Tyco Fire Products Uk manufacturing Ltd yew St. Stockport, UK · Tyco Fire Suppression And Building Products, Great Yarmouth, Norfolk · Tyco Fire Products Lp, Lansdale · Tycoflexonic, Auckland · Tyco Flow Control, Nj · Tyco Flow Control Argentina HQ · Tyco Flow Control Argentina SA · Tyco Flow Control Beijing Company Limited · Tyco Flow Control Chile S.A · Tyco Flow Control Hong Kong Limited · Tyco Flow Control -Houston · Tyco Flow Control K.K - Japan · Tyco Flow Control Nfg - Nowra · Tyco Flow Control Pacific Pte. Limited Brisbane, Australia · Tyco Flow Control Pacific Pty Limited Australia · Tyco Flow Control Pacific Pty Limited · Tyco Flow Control Pte Limited - Singapore · Tyco Flow Control Pte Limited · Tyco Flow Control Pte Limited (Distribution Division) · Tyco Flow Control Pte Limited (Export A/C) · Tyco Flow Control, Auckland · Tyco International Inc · Tyco International Management Company · Tyco International Services Holding Gmbh · Tyco Shares Ltd · Tyco Thermal Controls Nv · Tyco Thermal Controls India Private Limited · Tyco Valves and Controls Griss · Tyco Valves and Controls B.V. · Tyco Valves and Controls Lp - Reno · Tyco Valves and Controls Brazil Limited · Tyco Valves and Controls Canada Inc · Tyco Valves and Controls Demexico, S.A De C.V · Tyco Valves and Controls Denmark A/S · Tyco Valves and Controls Distribution Gmbh · Tyco Valves and Controls Distribution Uk Limited · Tyco Valves and Controls -(France) S.C.A · Tyco Valves and Controls Inc. · Tyco Valves and Controls Italia S.R.I V · Tyco Valves and Controls Italia S.R.L. (Vanessa) · Tyco Valves and Controls Italia S.R.L. (Raimondi) · Tyco Valves and Controls L.P (Morin) · Tyco Valves and Controls Lp · Tyco Valves and Controls Lp (Kunkle Valve) · Tyco Valves and Controls Lp Harlingen · Tyco Valves and Controls Lp, Denvar · Tyco Valves and Controls Lp-Agco · Tyco Valves and Controls Middle East · Tyco Valves and Controls Taiwan Limited · Tyco Valves and Controls(Thailand) Limited · Tyco Valves and Controls, Gulfcoast - Grinnell, USA · Tyco Valves and Controls, Penberthy, USA · Tyco Valves and controls Morin Inc. · Tyco Valves and Controls (Sichuan) Company Limited · Tyco Valves and Controls (M) Sdn, Bhd-Malaysia · Tyco Valves and Controls Lp - Stafford · Tyco Valves and Controls Lp - Pasadena · Tyco Valves and Controls USA Limited · Tyco Water Valve ( Shanghai ) Company Limited · Tyco Water Valves Company Limited · Westlock Controls Limited U.S.A · Westlock Controls Limited U.K. |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18998639 |
Equity Shares |
Rs.10/- each |
Rs.189.986
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 |
189.986 |
189.986 |
189.986 |
|
(b) Reserves & Surplus |
1962.736 |
1831.038 |
1700.195 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
3.441 |
|
Total
Shareholders’ Funds (1) + (2) |
2152.722 |
2021.024 |
1893.622 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
9.313 |
8.945 |
9.602 |
|
Total Non-current Liabilities (3) |
9.313 |
8.945 |
9.602 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
119.949 |
513.236 |
80.280 |
|
(b) Trade payables |
2301.136 |
1394.004 |
1058.566 |
|
(c) Other current
liabilities |
114.977 |
136.892 |
176.407 |
|
(d) Short-term provisions |
0.820 |
0.714 |
0.823 |
|
Total Current Liabilities (4) |
2536.882 |
2044.846 |
1316.076 |
|
|
|
|
|
|
TOTAL |
4698.917 |
4074.815 |
3219.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
159.975 |
147.296 |
138.772 |
|
(ii) Intangible Assets |
54.795 |
2.359 |
10.078 |
|
(iii) Capital
work-in-progress |
13.885 |
0.000 |
4.944 |
|
(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) |
99.459 |
78.217 |
57.080 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
328.114 |
227.872 |
210.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
687.020 |
799.410 |
714.213 |
|
(c) Trade receivables |
2765.217 |
1479.942 |
718.008 |
|
(d) Cash and cash
equivalents |
228.473 |
1170.590 |
166.314 |
|
(e) Short-term loans and
advances |
690.019 |
391.815 |
1409.209 |
|
(f) Other current assets |
0.074 |
5.186 |
0.682 |
|
Total Current Assets |
4370.803 |
3846.943 |
3008.426 |
|
|
|
|
|
|
TOTAL |
4698.917 |
4074.815 |
3219.300 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4086.586 |
4460.321 |
2373.982 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
3924.355 |
4263.426 |
2216.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
162.231 |
196.895 |
157.674 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.538 |
66.054 |
56.985 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
131.693 |
130.841 |
100.689 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1754.823 |
806.628 |
763.702 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.93 |
6.89 |
5.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.22 |
2.93 |
4.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.54 |
4.93 |
4.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.10 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.25 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.88 |
2.29 |
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 |
189.986 |
189.986 |
189.986 |
|
Reserves & Surplus |
1700.195 |
1831.038 |
1962.736 |
|
Net worth |
1890.181 |
2021.024 |
2152.722 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
80.280 |
513.236 |
119.949 |
|
Total borrowings |
80.280 |
513.236 |
119.949 |
|
Debt/Equity ratio |
0.042 |
0.254 |
0.056 |
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 |
2373.982 |
4460.321 |
4086.586 |
|
|
|
87.884 |
(8.379) |
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 |
2373.982 |
4460.321 |
4086.586 |
|
Profit |
100.689 |
130.841 |
131.693 |
|
|
4.24% |
2.93% |
3.22% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
|
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 |
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 |
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS: |
|
|
|
Loans repayable on demand from banks |
0.000 |
29.439 |
|
Loans repayable on demand from others |
119.949 |
483.797 |
|
Total |
119.949 |
513.236 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90106172 |
10/02/1999 * |
20,300,000.00 |
STATE BANK OF INDIA |
MANDVI, BARODA, GUJARAT, INDIA |
- |
|
2 |
90105613 |
20/08/1993 * |
7,500,000.00 |
STATE BANK OF INDIA |
BARODA MAIN BRANCH, BARODA, GUJARAT, INDIA |
- |
|
3 |
90103896 |
12/02/1996 * |
2,649,000.00 |
STATE BANK OF INDIA |
MANDVI BRANCH, BARODA, GUJARAT, INDIA |
- |
|
4 |
90104383 |
07/03/1990 * |
2,649,000.00 |
STATE BANK OF INDIA |
BARODA MAIN BRANCH, BARODA, GUJARAT, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Freehold Land
· Leasehold Improvements
· Buildings
· Plant and Machinery
· Patterns and Tools
· Furniture and Equipments
· Office Equipment
· Computers
· 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
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] 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.61.46 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JAY |
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 |
5 |
|
--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 |
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 |
|
53 |
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.