MIRA
INFORM REPORT
|
Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
T D WILLIAMSON INDIA
PRIVATE LIMITED (w.e.f. 25.10.2013) |
|
|
|
|
Formerly known
as : |
T D W INDIA LIMITED |
|
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|
|
Registered
Office : |
Plot No. 16, Phase – lll, Alindra Savli GIDC, Opposite Overhead Tank,
Savli, District, Vadodara – 391775, Gujarat
|
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.11.1992 |
|
|
|
|
Com. Reg. No.: |
04-039396 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.175 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29246GJ1992PTC039396 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT00229F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company’s primary business segment comprises:- ·
Services of pipelines and sales of equipment to
other Indian / International customers (Non associated entities) ·
Manufacture and sale of equipment for Oil and
Natural Gas Pipeline performance to TDW group companies (Associated entities) |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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|
|
Payment Behaviour : |
Slow But Correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of T. D. Williamson Inc. It is an established company having moderate track record. The management of the company has changed its financial year from (31st
Dec, 2011 to 31st March, 2013) ranging from January 2012-March
2013 for 15 months. The company is continuously incurring losses. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
Management Non Cooperative. (91-2667-619900)
LOCATIONS
|
Registered Office : |
Plot No. 16, Phase – lll, Alindra Savli GIDC, Opposite Overhead Tank,
Savli, District- Vadodara – 391775, Gujarat, India |
|
Tel. No.: |
91-2667-619900 |
|
Fax No.: |
91-2667-619501 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Robert Doyle Mcgrew |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
20.07.1962 |
|
Date of Appointment : |
03.04.2006 |
|
DIN No.: |
00065381 |
|
|
|
|
Name : |
Mr. Robert Allen Johnson |
|
Designation : |
Director |
|
Address : |
11002, South Toledo, |
|
Date of Birth/Age : |
09.11.1948 |
|
Date of Appointment : |
20.08.1999 |
|
DIN No.: |
01339510 |
|
|
|
|
Name : |
Mr. Anjeev Pandey |
|
Designation : |
Director |
|
Address : |
Room No. 406A, Subbreeeze Tower I, Vaishali Sector – 5, Ghaziabad –
210101, Uttar Pradesh, India |
|
Date of Birth/Age : |
29.03.1971 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
01799059 |
|
|
|
|
Name : |
Mr. Samyak Sahani |
|
Designation : |
Additional Director |
|
Address : |
5A, Pragati Nagar Society, Near Arunachal Society, Subhanpura,
Vadodara – 390023, |
|
Date of Birth/Age : |
11.09.1974 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
03153922 |
|
|
|
|
Name : |
Dixit Babulal Kadakia |
|
Designation : |
Additional Director |
|
Address : |
|
|
Date of Birth/Age : |
01.04.1955 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
02447007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
T D Williamson INC |
|
29899573 |
|
Richard Brooks Williamson |
|
2 |
|
Rathina Gunavel Rathinam |
|
2 |
|
Samyak Sahani |
|
10 |
|
Robert Allen Johnson |
|
1 |
|
Robert Morris |
|
4 |
|
Dixit Babulal Kadakia |
|
20 |
|
Vasant Patel |
|
10 |
|
Mayurprabhu Melanaturu |
|
10 |
|
Easo George |
|
10 |
As on: 19.08.2013
|
Name Of
Allottees |
No. Of Shares |
|
|
|
|
T D W India Limited |
16960000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company’s primary business segment comprises:- ·
Services of pipelines and sales of equipment to
other Indian / International customers (Non associated entities) ·
Manufacture and sale of equipment for Oil and
Natural Gas Pipeline performance to TDW group companies (Associated entities) |
||||
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Declined By The Management |
|
|
|
|
Bankers : |
Not Available |
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|
|
|
Facilities : |
-- |
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra,
India |
|
PAN No.: |
AAAFP8828M |
|
|
|
|
Associates/Subsidiaries : |
TDW Services, Incorporation, United States TDW Offshore Services AS, Norway Pt. Td Williamson Indonesia T. D. Williamson, China T. D. Williamson (France),
France T. D. Williamsons (Thailand) Company Limited. Thailand T. D. Williamsons (UK) Limited, United Kingdom T. D. Williamsons Asia Pacific Private Limited, Singapore T. D. Williamson Italiana S. R. L., Italy T. D. Williamson Middle Wast FZE, United Arab Emirates T. D. Williamsons S. A., Belgium T. D. Williamson Services Latinoamericana Ca Td Williamsons Australia Pty Limited. Australia Wimaco Bvba, Belgium T. D. Williamson (France) S. A. S., France |
CAPITAL STRUCTURE
As on: 30.09.213
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29899650 |
Equity Shares |
Rs.10/- each |
Rs. 298.966
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50001000 |
Equity Shares |
Rs.10/- each |
Rs.500.100 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10017570 |
Equity Shares |
Rs.10/- each |
Rs.100.175
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 (15 Months) |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
100.175 |
3.175 |
|
(b) Reserves & Surplus |
|
155.189 |
244.314 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
198.821 |
42.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
454.185 |
289.489 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.240 |
2.621 |
|
Total Non-current Liabilities (3) |
|
5.240 |
2.621 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
120.942 |
302.007 |
|
(b) Trade payables |
|
370.044 |
222.986 |
|
(c) Other current
liabilities |
|
92.988 |
67.030 |
|
(d) Short-term provisions |
|
2.513 |
0.000 |
|
Total Current Liabilities (4) |
|
586.487 |
592.023 |
|
|
|
|
|
|
TOTAL |
|
1045.912 |
884.133 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
374.814 |
309.322 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
17.580 |
|
(d) Long-term Loan and Advances |
|
47.636 |
71.944 |
|
(e) Other Non-current assets |
|
0.050 |
32.436 |
|
Total Non-Current Assets |
|
422.500 |
431.282 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
159.594 |
123.957 |
|
(c) Trade receivables |
|
311.772 |
231.550 |
|
(d) Cash and cash
equivalents |
|
132.989 |
76.016 |
|
(e) Short-term loans
and advances |
|
18.047 |
21.328 |
|
(f) Other current
assets |
|
1.010 |
0.000 |
|
Total Current Assets |
|
623.412 |
452.851 |
|
|
|
|
|
|
TOTAL |
|
1045.912 |
884.133 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.176 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
336.348 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
339.524 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
145.200 |
|
|
TOTAL BORROWING |
|
|
145.200 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.319 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
487.043 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
305.737 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
49.175 |
|
|
Sundry Debtors |
|
|
148.929 |
|
|
Cash & Bank Balances |
|
|
71.935 |
|
|
Other Current Assets |
|
|
68.308 |
|
|
Loans & Advances |
|
|
1.849 |
|
Total
Current Assets |
|
|
340.196 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
117.341 |
|
|
Other Current Liabilities |
|
|
24.739 |
|
|
Provisions |
|
|
16.810 |
|
Total
Current Liabilities |
|
|
158.890 |
|
|
Net Current Assets |
|
|
181.306 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
487.043 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 (15 Months) |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
779.215 |
355.958 |
381.986 |
|
|
|
Other Income |
15.385 |
37.226 |
6.361 |
|
|
|
TOTAL (A) |
794.600 |
393.184 |
388.347 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
292.789 |
148.664 |
239.266 |
|
|
|
Purchases of Stock-in-Trade |
24.909 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(7.827) |
30.936 |
0.000 |
|
|
|
Employees benefits expense |
186.445 |
110.281 |
59.893 |
|
|
|
Other expenses |
277.215 |
143.001 |
64.462 |
|
|
|
TOTAL (B) |
773.531 |
432.882 |
363.621 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.069 |
(39.698) |
24.726 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.567 |
28.369 |
6.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(9.498) |
(68.067) |
18.592 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
66.230 |
40.105 |
17.265 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(75.728) |
(108.172) |
1.327 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.397 |
(16.138) |
0.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(89.125) |
(92.034) |
0.929 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
254.742 |
64.096 |
40.235 |
|
|
TOTAL EARNINGS |
254.742 |
64.096 |
40.235 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(10.97) |
(289.81) |
2.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (15 Months) |
31.12.2011 |
31.12.2010 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
(11.22) |
(23.41) |
0.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(9.72) |
(30.39) |
0.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.24) |
(12.48) |
0.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17) |
(0.37) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
1.04 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
0.76 |
2.14 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
3.175 |
100.175 |
|
Reserves & Surplus |
244.314 |
155.189 |
|
Share Application Pending
Money Allotment |
42.000 |
198.821 |
|
Net worth |
289.489 |
454.185 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
302.007 |
120.942 |
|
Total borrowings |
302.007 |
120.942 |
|
Debt/Equity ratio |
1.220 |
0.474 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
381.986 |
355.958 |
779.215 |
|
|
|
(6.814) |
118.906 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.12.2011 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
381.986 |
355.958 |
779.215 |
|
Profit |
0.929 |
(92.034) |
(89.125) |
|
|
0.24% |
(25.86%) |
(11.44%) |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note: The Registered
Office of the company has been shifted from 401-402, Sampatti Premises, Bombay
Shopping Centre Lane, R. C. Dutt Road, Alkapuri, Vadodara – 390007, Gujarat,
India to the present address w.e.f. 01.09.2010.
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.12.2011 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS: |
|
|
|
Working capital loans from banks |
120.942 |
302.007 |
|
Total |
120.942 |
302.007 |
INDEX OF CHARGES:
No Charges Exist for Company
FIXED ASSETS:
- Electrical
Fittings
- Furniture and
Fixtures
- Computer
- Plant and
Machinery
- Office
Equipment
- Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 judgment 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.61.95 |
|
UK Pound |
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.