MIRA
INFORM REPORT
|
Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
FRANCOIS COMPRESSORS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.147/1 (New), Village Pirangut, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.12.2006 |
|
|
|
|
Com. Reg. No.: |
11-129346 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120PN2006FTC129346 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF00942E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF0496K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Compressors and related accessories |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Net worth of the company has been eroded due to continuous accumulated
loss incurred from its operations. However, business is active. Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 tat 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.
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. Sachin Ambardekar |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-20-67916000 |
|
Date : |
09.09.2014 |
LOCATIONS
|
Registered Office / Factory : |
Gat No.147/1 (New), Village Pirangut, Lavale Road, Taluka Mulshi,
Pirangut – 412115, Maharashtra, India |
|
Tel. No.: |
91-20-67916000 |
|
Fax No.: |
91-20-67916001 |
|
E-Mail : |
DIRECTORS
AS ON 26.08.2013
|
Name : |
Mr. Christian Raymond Boon Falleur |
|
Designation : |
Managing Director |
|
Address : |
1640 Avenue Astrid 83, Rhode Saint Genese, Belgium- B1640 |
|
Date of Birth/Age : |
08.03.1947 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
02068673 |
|
|
|
|
Name : |
Ms. Radha Mohan Chandra Mohan Sukhia |
|
Designation : |
Director |
|
Address : |
Kalvovagen 17, Saltsjo Boo, Sweden- 13234 |
|
Date of Birth/Age : |
29.04.1939 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
01941372 |
|
|
|
|
Name : |
Mr. Didier Edouard Rolin Jacquemyns |
|
Designation : |
Director |
|
Address : |
Bremlaan, 20, Overijse, Belgium- B3090 |
|
Date of Birth/Age : |
23.08.1948 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
02157046 |
|
|
|
|
Name : |
Mr. Sahab Saran |
|
Designation : |
Whole Time Director |
|
Address : |
A-2, 101, Silver Oak, Floriana Estate, Kalyaninagar, Pune-411014,
Maharashtra, India |
|
Date of Birth/Age : |
09.01.1946 |
|
Date of Appointment : |
08.01.2009 |
|
DIN No.: |
02490719 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Ambardekar |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
AS ON 26.08.2013
|
Names of Shareholders |
No. of Shares |
|
Moteurs Et Francois Sa, Belgium |
999 |
|
Jacquemyns
Edouard Rolin Didier (Nominee: Moteurs et Francois SA), Belgium |
1 |
|
|
|
|
Total |
1000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.08.2013
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Compressors and related accessories |
|
|
|
|
Exports : |
|
|
Products : |
Finish Goods |
|
Countries : |
·
China ·
Belgium |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cheque and Credit |
|
|
|
|
Purchasing : |
L/C, Cheque and Credit |
GENERAL INFORMATION
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
·
ING Vysya Bank ·
Dena Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.G. Joshi and Company Chartered Accountant |
|
Address : |
6, Janhavi Apartments, 40/22, Bhonde Colony, Pune – 411004,
Maharashtra, India |
|
PAN No.: |
AABFP2335E |
|
|
|
|
Holding Company : |
·
Moteurs Et Francois SA |
|
|
|
|
Associates : |
·
Ateliers Francois S A ·
Ateliers Francois (Shanghai) Company Limited ·
Ateliers Francois Compressors Middle East Dubai ·
Ateliers Francois Compressors Tan. Ve. Tic. As.
Turkey ·
Ateliers Francois Nord Afrique ·
Ateliers Francois Compressors Kunshan ·
Af Distribution Centre FZE, Dubai |
CAPITAL STRUCTURE
AS ON 26.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3600 |
Equity Shares |
Rs.5000/- each |
Rs.18.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.5000/- each |
Rs.5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
(78.467) |
(30.169) |
6.860 |
|
(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) |
(73.467) |
(25.169) |
11.860 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
209.002 |
185.848 |
134.562 |
|
(b) Deferred tax liabilities (Net) |
0.387 |
0.413 |
0.315 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.014 |
0.539 |
0.257 |
|
Total Non-current Liabilities (3) |
210.403 |
186.800 |
135.134 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
255.816 |
146.758 |
62.085 |
|
(c) Other current
liabilities |
14.977 |
14.151 |
8.677 |
|
(d) Short-term provisions |
9.622 |
9.198 |
6.877 |
|
Total Current Liabilities (4) |
280.415 |
170.107 |
77.639 |
|
|
|
|
|
|
TOTAL |
417.351 |
331.738 |
224.633 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
156.834 |
132.431 |
129.488 |
|
(ii) Intangible Assets |
2.253 |
2.292 |
0.383 |
|
(iii) Capital
work-in-progress |
8.181 |
6.579 |
0.180 |
|
(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 |
3.723 |
3.263 |
2.393 |
|
(e) Other Non-current assets |
0.036 |
0.003 |
0.004 |
|
Total Non-Current Assets |
171.027 |
144.568 |
132.448 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
105.798 |
72.667 |
35.579 |
|
(c) Trade receivables |
63.603 |
38.993 |
32.009 |
|
(d) Cash and cash
equivalents |
26.815 |
34.171 |
6.689 |
|
(e) Short-term loans and
advances |
25.877 |
24.550 |
8.282 |
|
(f) Other current assets |
24.231 |
16.789 |
9.626 |
|
Total Current Assets |
246.324 |
187.170 |
92.185 |
|
|
|
|
|
|
TOTAL |
417.351 |
331.738 |
224.633 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operation |
|
175.855 |
132.345 |
|
|
|
Other Income |
|
1.722 |
6.756 |
|
|
|
TOTAL (A) |
268.135 |
177.577 |
139.101 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
|
140.924 |
87.543 |
|
|
|
Employee Benefit Expenses |
|
25.141 |
14.618 |
|
|
|
Other Expenses |
|
69.750 |
35.752 |
|
|
|
Preliminary / Preoperative / Misc Expenses written off |
|
0.001 |
0.001 |
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock
in Trade |
(33.131) |
(37.088) |
(9.954) |
|
|
|
TOTAL (B) |
316.458 |
198.728 |
127.960 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(48.323) |
(21.151) |
11.141 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
7.965 |
1.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(48.323) |
(29.116) |
9.835 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
7.827 |
3.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(48.323) |
(36.943) |
6.468 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.025) |
0.086 |
2.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(48.298) |
(37.029) |
4.373 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
157.150 |
84.781 |
61.610 |
|
|
|
Technical Consultancy Fees |
26.222 |
24.705 |
22.597 |
|
|
|
Commission Earnings |
0.641 |
0.342 |
1.751 |
|
|
|
Sales Commission |
1.997 |
0.792 |
2.883 |
|
|
|
Warranty Charges |
1.390 |
1.258 |
0.263 |
|
|
|
Service Labor |
0.953 |
0.000 |
0.000 |
|
|
|
Service Travel |
0.424 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
188.777 |
111.878 |
89.104 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spares |
132.910 |
65.318 |
26.279 |
|
|
TOTAL IMPORTS |
132.910 |
65.318 |
26.279 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(48298.00) |
(37029.00) |
4372.35 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
Expected Sales (2013-2014): Rs.300.000 Millions
The above information has been parted by Mr. Sachin Ambardekar (Accounts
Head)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(18.01) |
(20.85) |
3.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
(21.01 |
4.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.81) |
(11.36) |
2.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66 |
1.47 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.84) |
(7.38) |
11.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
1.10 |
1.19 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
6.860 |
(30.169) |
(78.467) |
|
Net
worth |
11.860 |
(25.169) |
(73.467) |
|
|
|
|
|
|
long-term borrowings |
134.562 |
185.848 |
209.002 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
134.562 |
185.848 |
209.002 |
|
Debt/Equity
ratio |
11.346 |
(7.384) |
(2.845) |
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 |
139.101 |
177.577 |
268.135 |
|
|
|
27.660 |
50.996 |
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
|
139.101 |
177.577 |
268.135 |
|
Profit |
4.373 |
(37.029) |
(48.298) |
|
|
3.14% |
(20.85%) |
(18.01%) |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
FINANCIAL RESULTS I
OPERATIONS:
During the
financial year 2012-2013 the company has known a substantial increase of its revenues.
The completion of the Pirangut facilities and the resolution of the access
problem has increased its production capacity resulting in a progression of the
export sales by 85%. The after sales services revenues, although representing
only 3% of the total revenue but has progressed by 70%.
However, due to
quality problems of the domestic sources, the company had to fall back to the
import of major parts for its production having as consequence a substantial
drop of its gross margin on produced machines. Combined with the further
build-up 'of the organization, in preparation of our expansion plans, and its
associated increase of costs, it has resulted in an operating loss.
The decline of the
INR, mainly towards the USD. Has resulted in substantial losses for the
consecutive second year on part of foreign exchange revaluation of the debts of
the company. Measures taken to renew the sourcing of their domestic
procurements and to improve the gross margin generated by the production, and
further increase of the production, make us confident that the current
financial year will establish a positive cash flow and operating profit for the
company.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Foreign currency
loan from promoters |
209.002 |
185.848 |
|
|
|
|
|
Total |
209.002 |
185.848 |
NO CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
·
Land
·
Factory Building
·
Data Processing
Equipments
·
Vehicles
·
Die Blocks and Patterns
·
Furniture and Fixture
·
Office Equipments
·
Tools and Equipments
·
Plant and Machinery
·
Electrical Installations
·
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 : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
13 |
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.