MIRA INFORM REPORT
|
Report No. : |
317592 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GREENTECH INDUSTRIES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
APIIC Multi Product SEZ, SY No.2 to 17,20,222,23, 219 to 224,
Dwarakapuram Village, Nadiupet – 524421, Andhra Pradesh |
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Tel. No.: |
91-8623-305000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.07.2008 |
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Com. Reg. No.: |
01-060331 |
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Capital
Investment / Paid-up Capital : |
Rs. 4982.454 Million |
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|
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CIN No.: [Company Identification
No.] |
U74900AP2008PTC060331 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of engine spare parts. |
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No. of Employees
: |
1700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 12000000 |
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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 well established company having moderate track. Management has filed “Form 20B”
depicting annual return for FY 14,
whereas failed to file any other statements for the same year, with the
statutary authorities. As per available , management
has reported consecutive losses leading to accumulation of the same during FY
13. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of strong parent, the
company can be considered for business dealings with caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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. Raghunathan |
|
Designation : |
Finance Department |
|
Contact No.: |
91-8623-305000 |
|
Date : |
14.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
APIIC Multi Product SEZ, SY No.2 to 17,20,222,23, 219 to 224,
Dwarakapuram Village, Nadiupet – 524421, Andhra Pradesh, India |
|
Tel. No.: |
91-8623-305000 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Area : |
2.10 acres |
|
Location : |
Leased |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Jung Jua Tseng |
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|
Designation : |
Director |
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Address : |
101, Lane 1441, Neighborhood 10, Ta Jen Village, He Ping Road, Taoyuan
Country, Province of China, Pate City – 333, Taiwan |
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Date of Birth/Age : |
07.08.1956 |
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Date of Appointment : |
08.08.2008 |
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DIN No.: |
02279817 |
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Other
Directorship :
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Name : |
Chih Ta Chin |
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Designation : |
Director |
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|
Address : |
6F, Bo. 18, Jhensing RD, Neighborhood 19, Beihua Village, Taoyuan
Country, Pingzhen City, Taiwan |
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Date of Birth/Age : |
31.12.1956 |
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Date of Appointment : |
31.08.2011 |
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DIN No.: |
02897585
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Name : |
Yu San Chen
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Designation : |
Director |
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|
Address : |
No.12-3, Lane 42, Sec. 1, Neighborhood 23, Shan Min Village, Shan Min
Road, Taoyaun Country, Province of China, Taoyuan City – 330, Taiwan |
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Date of Birth/Age : |
13.06.1935 |
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Date of Appointment : |
08.08.2008 |
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DIN No.: |
02279582 |
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Other
Directorship :
|
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KEY EXECUTIVES
|
Name : |
Srinivas Naidu Kotturi |
|
Designation : |
Company Secretary |
|
Address : |
No.1-9-1113/24C, Dayanand Nagar, Vidya Nagar, Hyderabad – 500044,
Andhra Pradesh, India |
|
Date of Birth/Age : |
28.07.1983 |
|
Date of Appointment : |
01.08.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Guide Luck Limited, Mauritius |
493245155 |
99.00 |
|
Mei Ta Industrial Company, Taiwan |
5000214 |
1.00 |
|
Total |
498245369 |
100.00 |
%20PRIVATE%20LIMITED%20%20-%20317592%2017-Apr-2015_files/image009.gif)
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
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 of engine spare parts. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Europe |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1700 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
Murali Krishna Gottipati Chartered Accountants |
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Address : |
#6-3-900/6-9, Flat # 104, Veeru Castle, Durganagar, Colony Panjagutta,
Andhra Pradesh, India |
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PAN No.: |
ABSFS8670D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Guide Luck Limited |
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Ultimate Holding Company : |
Mel-Ta Industrial Limited |
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|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Greentech Precision Engineering Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000000 |
Equity Shares |
Rs. 10/- each |
Rs. 6000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
498245369 |
Equity Shares |
Rs. 10/-
each |
Rs. 4982.454
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
4982.454 |
2336.411 |
767.914 |
|
(b) Reserves & Surplus |
(696.832) |
(386.566) |
(28.808) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
322.129 |
541.369 |
|
Total
Shareholders’ Funds (1) + (2) |
4285.622 |
2271.974 |
1280.475 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
14.204 |
17.005 |
0.000 |
|
(c) Other long term
liabilities |
1.551 |
0.000 |
2.488 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
15.755 |
17.005 |
2.488 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1399.659 |
1141.766 |
916.809 |
|
(c) Other
current liabilities |
12.259 |
7.729 |
1.679 |
|
(d) Short-term
provisions |
8.806 |
8.492 |
0.983 |
|
Total Current
Liabilities (4) |
1420.724 |
1157.987 |
919.471 |
|
|
|
|
|
|
TOTAL |
5722.101 |
3446.966 |
2202.434 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2883.236 |
2787.701 |
1721.705 |
|
(ii)
Intangible Assets |
0.037 |
0.050 |
0.054 |
|
(iii)
Capital work-in-progress |
178.606 |
162.438 |
271.917 |
|
(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 |
30.403 |
23.801 |
65.316 |
|
(e) Other
Non-current assets |
11.402 |
121.212 |
33.224 |
|
Total Non-Current
Assets |
3103.684 |
3095.202 |
2092.216 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
340.010 |
133.919 |
2.254 |
|
(c) Trade
receivables |
74.537 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
2184.369 |
201.648 |
100.565 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
19.501 |
16.197 |
7.399 |
|
Total
Current Assets |
2618.417 |
351.764 |
110.218 |
|
|
|
|
|
|
TOTAL |
5722.101 |
3446.966 |
2202.434 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
295.837 |
0.000 |
NA |
|
|
|
Other Income |
109.046 |
5.229 |
NA |
|
|
|
TOTAL (A) |
404.883 |
5.229 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
457.157 |
196.142 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(52.274) |
(190.914) |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(52.274) |
(190.914) |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
257.992 |
166.669 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(310.266) |
(357.583) |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(310.266) |
(357.583) |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.62) |
(0.72) |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1200.000 |
|
|
|
|
|
Expected Sales (2014-15): Rs. 1500.000 Million
The above information has been parted by Mr. Raghunathan (Finance
Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(104.88)
|
NA |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(17.67)
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.60) |
(10.89) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
(0.16) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84 |
0.30 |
0.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
767.914 |
2336.411 |
4982.454 |
|
Reserves & Surplus |
(28.808) |
(386.566) |
(696.832) |
|
Share Application money
pending allotment |
541.369 |
322.129 |
0.000 |
|
Net
worth |
1280.475 |
2271.974 |
4285.622 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20%20-%20317592%2017-Apr-2015_files/image011.gif)
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
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 |
INDEX OF CHARGES
NO CHARGES EXIST FOR THE COMPANY.
FIXED ASSETS
- Land
- Builidings
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
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 records 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. 62.40 |
|
|
1 |
Rs. 92.15 |
|
Euro |
1 |
Rs. 66.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
34 |
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.