MIRA
INFORM REPORT
|
Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
A. K. POWER INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Shrutineer Apartment (On |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.11.2008 |
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Com. Reg. No.: |
21-130530 |
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Capital Investment
/ Paid-up Capital : |
Rs. 444.297 Millions |
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CIN No.: [Company Identification
No.] |
U40104WB2008PTC130530 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALA11377C |
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PAN No.: [Permanent Account No.] |
AAHCA4131E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Electrical Overhead Equipments and
Various Hardware Fittings. |
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No. of Employees
: |
160 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. A reserve of the company is low. However, the rating takes into consideration company’s improved
operational performance supported by long track record of business operations
with diversified product portfolio and promoters extensive experience in this
line of business. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company 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.
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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
SE 1A |
|
Rating Explanation |
High performance capability and high
financial strength. |
|
Date |
October, 2013 |
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. Anshuman Roy |
|
Designation : |
Account Manager |
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Contact No.: |
91-9836084840 |
|
Date : |
12.09.2014 |
LOCATIONS
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Registered Office : |
Shrutineer Apartment (On Hit Main Road), 1st Floor,
23/2/1/1, Bhagaban Chatterjee Lane, Howrah – 711101, West Bengal, India |
|
Tel. No.: |
91-33-26775149/ 5152 |
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Mobile No.: |
91-9830028880 (Mr. Ayan Mallick) |
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Fax No.: |
91-33-26775147 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. ft |
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Location : |
Owned |
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Factory 1 : |
33, 34, 36/6, Dasarath Ghosh Lane, Howrah – 711101, West Bengal, India |
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Factory 2 : |
Howrah Amta Road, Kantalia Nibra, Howrah – 711409, West Bengal, India |
DIRECTORS
As on 30.09.2013
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Name : |
Mr. Ayan Mallick |
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Designation : |
Director |
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Address : |
6/9, Nabin Banerjee Lane, Shibpur, Sadar, Howrah – 711104, West
Bengal, India |
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Date of Birth/Age : |
07.07.1980 |
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Qualification : |
Graduate |
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Experience : |
8 Years |
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Date of Appointment : |
12.11.2008 |
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PAN No.: |
AIZPM6146L |
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DIN No.: |
02143809 |
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Other Directorship :
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Name : |
Ms. Archana Mallick |
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Designation : |
Director |
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Address : |
6/9, Nabin Banerjee Lane, Shibpur, Sadar, Howrah – 711104, West
Bengal, India |
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Date of Birth/Age : |
15.12.1952 |
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Date of Appointment : |
12.11.2008 |
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PAN No.: |
AATPM6305P |
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DIN No.: |
02143823 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Anshuman Roy |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Ayan Mallick |
17142654 |
60.30 |
|
Archana Mallick |
7287000 |
25.63 |
|
Trans Hardware and Alloy Casting Private Limited, India |
4000000 |
14.07 |
|
Total |
28429654 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
14.07 |
|
Directors or relatives of Directors |
85.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical Overhead Equipments and
Various Hardware Fittings. |
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Products : |
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Exports : |
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Products : |
Electrical Transmission |
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Countries : |
·
Europe ·
Sri Lanka ·
Korea ·
Nepal ·
Japan |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Supplier : |
Howrah Steel and Iron Private Limited |
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Customer : |
L & T |
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No. of Employees : |
160 (Approximately) |
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Bankers : |
·
State
Bank of India, Howrah Branch, 9, G. T. Road (South), Howrah - 711101, West
Bengal, India ·
Axis Bank Limited, Corporate Banking Branch (CBB), 1, Shakespeare Sarani, AC Market, 3rd
Floor, Kolkata – 700071, West Bengal, India State Bank of India (Lead Bank), N. S. Road Branch, 8, N.
S. Road, Kolkata - 700001, West Bengal, India ICICI Bank Limited, ICICI Bank Towrs, Bandra Kurla
Complex, Mumbai - 400051, Maharashtra, India · Allahabad Bank, Gird Branch, Madhya Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
J. Jain and Company Chartered Accountants |
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Address : |
23A, N. S. Road, Fortune Tower , Kolkata – 700001, West Bengal, India |
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Tel. No. : |
91-33-22302243/ 22420308 |
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Mobile No. : |
91-9873275301 |
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Fax No. : |
91-33-40015422 |
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E-Mail : |
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Website |
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Income-tax
PAN of auditor or auditor's firm : |
AABFJ8069K |
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Associated Companies/ Firms : |
· Mallick Projects (Private) Limited Mallick Infracon (Private) Limited Meridian Towers (Private) Limited Oitjhya Estate (Private) Limited Summit Entertainment (Private) Limited AKPI Mechatronics (Private) Limited Mallick Structure and Engineers (Private) Limited AKI Transhardware (Private) Limited Gainwell Vyapaar (Private) Limited A&A Engineering AS Viddut Works |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 510.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44,429,654 |
Equity Shares |
Rs.10/- each |
Rs. 444.297 Millions |
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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 |
444.297 |
284.297 |
228.797 |
|
(b) Reserves & Surplus |
65.095 |
44.266 |
27.637 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
57.000 |
160.000 |
40.000 |
|
Total
Shareholders’ Funds (1) + (2) |
566.392 |
488.563 |
296.434 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
143.083 |
66.321 |
2.367 |
|
(b) Deferred tax liabilities (Net) |
11.250 |
4.324 |
0.221 |
|
(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) |
154.333 |
70.645 |
2.588 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
645.311 |
432.189 |
196.235 |
|
(b) Trade payables |
254.236 |
278.316 |
281.075 |
|
(c) Other current
liabilities |
87.553 |
104.411 |
57.662 |
|
(d) Short-term provisions |
4.203 |
2.928 |
3.598 |
|
Total Current Liabilities (4) |
991.303 |
817.844 |
538.570 |
|
|
|
|
|
|
TOTAL |
1712.028 |
1377.052 |
837.592 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
300.814 |
191.410 |
26.437 |
|
(ii) Intangible Assets |
0.889 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
7.832 |
9.346 |
23.456 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
33.341 |
32.713 |
20.909 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
342.876 |
233.469 |
70.802 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
487.633 |
420.185 |
319.479 |
|
(c) Trade receivables |
738.028 |
634.596 |
375.027 |
|
(d) Cash and cash
equivalents |
22.115 |
34.799 |
27.916 |
|
(e) Short-term loans and
advances |
7.395 |
4.598 |
2.506 |
|
(f) Other current assets |
113.981 |
49.405 |
41.862 |
|
Total Current Assets |
1369.152 |
1143.583 |
766.790 |
|
|
|
|
|
|
TOTAL |
1712.028 |
1377.052 |
837.592 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2363.783 |
|
|
|
|
|
Other Income |
2.569 |
2.829 |
|
|
|
|
TOTAL (A) |
2366.352 |
1562.499 |
1245.786 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1537.454 |
1036.238 |
|
|
|
|
Purchases of Stock-in-Trade |
578.463 |
340.522 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(76.448) |
(66.427) |
|
|
|
|
Employees benefits expense |
23.407 |
16.745 |
|
|
|
|
Other expenses |
135.340 |
152.055 |
|
|
|
|
Exceptional Items |
2.596 |
(1.369) |
|
|
|
|
TOTAL (B) |
2200.812 |
1477.764 |
1221.939 (Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
165.540 |
84.735 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
110.243 |
51.248 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.297 |
33.487 |
23.847 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.419 |
6.593 |
4.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
31.878 |
26.894 |
19.051 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.050 |
10.265 |
6.485 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
20.828 |
16.629 |
12.566 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
0.71 |
0.67 |
-- |
|
|
|
Diluted
|
0.45 |
0.66 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.88 |
1.06 |
1.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.35 |
1.72 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87 |
1.97 |
2.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.39 |
1.02 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.40 |
1.42 |
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 |
228.797 |
284.297 |
444.297 |
|
Reserves & Surplus |
27.637 |
44.266 |
65.095 |
|
Share Application money
pending allotment |
40.000 |
160.000 |
57.000 |
|
Net
worth |
296.434 |
488.563 |
566.392 |
|
|
|
|
|
|
long-term borrowings |
2.367 |
66.321 |
143.083 |
|
Short term borrowings |
196.235 |
432.189 |
645.311 |
|
Total
borrowings |
198.602 |
498.510 |
788.394 |
|
Debt/Equity
ratio |
0.670 |
1.020 |
1.392 |
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 |
1245.786 |
1562.499 |
2366.352 |
|
|
|
25.423 |
51.447 |
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 |
1245.786 |
1562.499 |
2366.352 |
|
Profit |
12.566 |
16.629 |
20.828 |
|
|
1.01% |
1.06% |
0.88% |
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 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10488378 |
10/03/2014 |
168,000,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA (LEAD BANK), 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
C02916880 |
|
2 |
10404454 |
10/03/2014 * |
825,000,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA (LEAD BANK), 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
C02915353 |
|
3 |
10404451 |
10/03/2014 * |
993,000,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA (LEAD BANK), 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
C02918506 |
|
4 |
10317937 |
23/04/2012 * |
340,000,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA (LEAD BANK), 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B40764565 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Business Loan from Tata Capital |
0.000 |
2.409 |
|
Business Loan from Magma |
7.368 |
0.000 |
|
Total |
7.368 |
2.409 |
TRANMISSION AND
DISTRIBUTION INDUSTRY OVERVIEW
Indian power sector remained closed to private investments till 1991. Power generation was opened up for private participation in 1991. Electricity Act, 2003, further rationalized the approach for privatization of the power sector. India is one of the few countries where transmission sector has been opened up for private participation and has garnered significant interest from private players. Transmission line hardware is generally used for transmission of overhead telecommunication and electric lines. The distribution line hardware are generally used for distribution of overhead telecommunication and electric lines from where the transmission lines leaves i.e. at 33kv and brings it to the households at lower voltage levels. Based on investment estimates and capacity addition targets, it is expected that domestic demand for generation equipment will be in the range of US$ 25-30 bn by 2022, while that of the T&D equipment will be in the range of the US$ 70-75 bn. The global electrical equipment industry consists of the following two segments:
a) The global heavy electrical equipment market, including boilers, turbines, generators, wind turbines, solar power systems, etc.
b) The global T&D equipment market, including electric power cables, transformers, electrical switchgear, transmission line towers, conductors, control equipment, meters, etc.
The global electrical equipment market is expected to increase from a cumulative size of more than US$ 3 trillion (2008-15) to US$ 6.8 trillion (2016-30). This translates into around 2% CAGR over the long term. The cumulative investment during 2009-2035 is expected to amount to US$ 16.9 trillion, with US$ 9.8 trillion needed in generation and US$ 7.1 trillion in T$D.
Asia-Pacific and Europe together account for more than 70 of the global market, with the Asia-Pacific region’s share being 45%. This region is expected to see the strongest demand in future due to the region’s strong expected economic growth rates.
FIXED ASSETS
Tangible Assets
· Land
Building
Furniture
Office
Equipment
Plant
and Equipment
Motor
Vehicles
Computer
and Peripherals
Electrical
Equipment
Intangible Assets
· Computer 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 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.60.84 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
42 |
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.