MIRA INFORM REPORT

 

 

Report No. :

336575

Report Date :

12.08.2015

 

IDENTIFICATION DETAILS

 

Name :

JABIL CIRCUIT INDIA PRIVATE LIMITED (w.e.f. 27.08.2007)

 

 

Formerly Known As :

PCB CONTRACT MANUFACTURING SERVICES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

17th Floor, Nirmal Towers, Nariman Point, Mumbai – 400 021, Maharashtra

Tel. No.:

91-22-66425687

 

 

Country :

India

 

 

Financials (as on) :

31.08.2014

 

 

Date of Incorporation :

27.08.2002

 

 

Com. Reg. No.:

11-136997

 

 

Capital Investment / Paid-up Capital :

Rs. 3403.751 Million

 

 

CIN No.:

[Company Identification No.]

U32109MH2002PTC136997

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEJ04704A

 

 

PAN No.:

[Permanent Account No.]

AACCP7114K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture of Electronic Products

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (63)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is subsidiary of Jabil (Mauritius) holding Limited, Mauritius.

 

It is well-established company incorporated during the year 2002 having a good track record.

 

Available financial indicates company strong financial risk profile marked by healthy net worth position with zero borrowings and good profitability of the company.

 

Fundamentals of the company are healthy.

 

Further, the rating also derives strength from its strong parentage.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

In view of strong holding support and sound financial position, the company can be considered good for normal 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

India Rating

Rating

Fund Based Limits = “IND AA+(SO)”/Stable

Rating Explanation

High degree of safety and carry low credit risk

Date

03.06.2015

 

Rating Agency Name

India Rating

Rating

Non Fund Based Limits = “IND A1+(SO)”

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

03.06.2015

 

 

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 31-03-2013.

 

 

INFORMATION DENIED

 

Management Non-operative (91-21-38662151)

 

LOCATIONS

 

Registered Office :

17th  Floor, Nirmal Towers, Nariman Point, Mumbai – 400 021, Maharashtra, India

Tel. No.:

91-22-66425687/66559701/2/3/4 / 66370031/32/ 66425706

Fax No.:

91-22-66559705

E-Mail :

 delhi@kochhar.com

Website :

www.jabil.com

 

 

Head Office :

5th and 17th Floor, World Trade Centre І,  Cuffe Parade, Mumbai – 400 005, Maharashtra, India

E-Mail :

d_sanyal@jabi.com

 

 

Factory :

B-26, MIDC, Ranjangaon, Taluka Sirur, District Pune – 412 220, Maharashtra, India

Tel. No.:

91-2138-562025/662109

Fax No.:

91-2138-560759/660759

Area :

(Land) 79786 Sq. fts

 

 

World H.Q.:

10560, 9th Street North, St. Peters Burg, Florida 337106, USA

Tel. No.:

7275779749

 

 

DIRECTORS

 

As on 28.02.2015

 

Name :

Mr. Forbes Ian James Alexander

Designation :

Director

Address :

1604, Country Trails Drive, Safety Harbor, FL 34695, U.S.A.

Date of Appointment :

Appointed as Additional Director on January 31, 2003. Confirmed as Director in the AGM of February 25, 2004.

DIN No.:

00195042

 

 

Name :

Mrs. Manishi Virendra Pathak

Designation :

Alternate Director (Alternate to Mr. Forbes Ian James Alexdander)

Address :

C-27, Rashmi Apartments, Harsh Vihar, Pitampura, New Delhi – 110 034, India

Date of Birth/Age :

23.02.1969

Date of Appointment :

01.03.2004

DIN No.:

00074992

 

 

Name :

Mr. Anoop Kumar Mehrotra

Designation :

Director

Address :

10-B, Tower D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai - 400 101, Maharashtra, India

Qualification:

BSC, FCA

Date of Appointment :

Appointed as Additional Director on October 10, 2008. Confirmed as a Director on February 28, 2009.

DIN No.:

02353302

 

 

Name :

Mr. Otto Johannnes Theodorus Maria Bik (Dutch)

Designation :

Director

Address :

Tweeriten 30, 5673 TV Nuenen, The Netherlands 5673TV 

Date of Appointment :

Appointed as Additional Director on January 2, 2009. Confirmed as a Director on February 28, 2009.

DIN No.:

02373775

 

 

Name :

Mr. Michael Dastoor

Designation :

Director

Address :

1918, Lago Vista Boulevard, Palm Harbour, Florida - 34685, USA

Date of Appointment :

Appointed as Additional Director on September 28, 2006. Confirmed in the AGM of May 31, 2007.

DIN No.:

00614734

 

 

Name :

Mr. Sergio Alonso Cadavid

Designation :

Director

Address :

14749, Waterchase Boulevard, Tampa, Florida, USA.- 33626

Date of Appointment :

Appointed as Additional Director on December 12, 2006. Confirmed as a Director on February 10, 2007.

DIN No.:

01052401

 

 

KEY EXECUTIVES

 

Name :

Ms. Hansa  Vaidya

Designation :

Company Secretary

Address :

507/B Ashoka Apartments, Mahatma Phule Road, Mumund (East), Mumbai- 400 081, Maharashtra, India

Date of Appointment :

07.01.2008

PAN No.:

ADTPV7733M

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 28.02.2015

 

Names of Equity Shareholders

 

No. of Shares

Jabil (Mauritius) Holdings Limited, Mauritius

 

334,264,181

Jabil Circuit Limited, Scotland

 

1931

 

 

 

Total

 

334,266,112

 

Names of Preference Shareholders

 

No. of Shares

Jabil (Mauritius) Holdings Limited, Mauritius

 

66,000,000

 

 

 

Total

 

66,000,000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 28.02.2015

 

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 :

Manufacture of Electronic Products

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name:

S. R. Batliboi and Company

Chartered Accountants

Address :

C-401, 4th Floor, Panchshil Tech Park, Yerwada (Near Don Boscoschool) Pune-411 006, Maharashtra, India

PAN No.:

ACHFS9180N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company:
  • Jabil (Mauritius) Holdings Limited, Mauritius

 

 

Ultimate Holding Company:
  • Jabil Circuit Inc., USA

 

 

Fellow subsidiaries:

  • Jabil Circuit Inc. - Corporate
  • Jabil Circuit Inc. - US-St. Petersburg, FL (Florida)
  • Jabil Circuit SDN BHD (Malaysia-Penang)
  • Jabil Circuit Inc. - US-Auburn Hills, MI (Michigan)
  • Jabil Circuit (Guangzhou) v. - (China Huangpu)
  • Jabil Circuit Technology India Private Limited
  • Jabil Circuit Inc. - US-San Jose, CA (California)
  • Jabil Circuit (Singapore) Pte. Limited. fka(CMS Singapore)
  • Jabil Circuit Hungary Limited. (Tiszaujavaros)
  • Celetronix India Private Ltd (CIPL-Mumbai)
  • Jabil Circuit Italia, S.r.l. (Marcianise/Caserta)
  • Jabil Circuit (Wuxi) Limited
  • Green Point (Suzhou) Technology Company Limited - GPS
  • Taiwan Green Point Enterprises Company Limited (TGP)
  • Jabil Circuit Austria GmbH (Vienna)
  • Jabil Circuit Ukraine Limited. (Ukraine-Uzhgorod)
  • Jabil Circuit Belgium N.V. - (Hasselt)
  • Jabil Global Services - St. Petersburg, FL
  • Jabil Circuit of Texas, LP (India Pune HUB)
  • Jabil Sdn Bhd. (Malaysia - Penang IT)
  • Jabil Circuit Belgium N.V. - (Hasselt) France
  • Jabil Circuit Hong Kong Limited.- (HongKong)
  • Jabil Circuit Inc. - US-Billerica, MS (Massachusetts)
  • Jabil Circuit Inc. - Mexico-(Guadalajara)
  • Jabil Luxembourg Mfg Sarl - (Guadalajara)
  • Jabil do Brasil Industria Electroelectronica ( Belo)
  • Jabil DO Brasil Ind.Ltda (Brasil)
  • Jabil DO Brasil (Brasil)
  • Jabil Industrial do Brasil LTDA (Brasil)
  • Jabil Hungary LP Services LLC
  • Jabil Circuit (Beijing) Limited
  • Jabil Global Services (Shanghai)
  • Jabil Circuit Austria GmbH (Vienna)
  • Jabil do Brasil Industria Electroelectronica (Manaus)
  • Jabil Circuit Inc. - Aerospace Services LLC-(MILSAP)
  • Jabil Global Services Szombathely (Hungary)
  • Jabil Circuit Hungary Limited. (Szombathely)
  • Jabil Circuit Inc. - Mexico-(Chihuahua)
  • Jabil Cirucit China Limited
  • Jabil Circuit Inc. - Tempe, AZ (Tempe)
  • Jabil Circuit (Singapore) Pte. Limited - IMAC
  • Jabil Vietnam Company Limited
  • Jabil Circuit Limited (Scotland-Livingston and Ayr)
  • Jabil Circuit (Shanghai) Co Company Limited.
  • Jabil Circuit Hungary Gyarto
  • Jabil Circuit Inc. - (JTS)
  • Jabil Circuit Inc. - US-Auburn Hills, MI (Michigan)

 

 

CAPITAL STRUCTURE

 

As on 28.02.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

434,050,000

Equity Shares

Rs.10/- each

Rs. 4340.500 Million

66,000,000

Preference Shares

Rs.10/- each

Rs. 660.000 Million

 

Total

 

Rs. 5000.500 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

334,266,112

Equity Shares

Rs.10/- each

Rs. 3342.661 Million

6,109,100

Preference Shares

Rs.10/- each

Rs. 61.090 Million

 

Total

 

Rs. 3403.751 Million

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.08.2014

31.08.2013

31.08.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

3403.751

4002.661

4002.661

(b) Reserves & Surplus

3349.936

1882.417

873.864

(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)

6753.687

5885.078

4876.525

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

23.755

20.791

22.526

Total Non-current Liabilities (3)

23.755

20.791

22.526

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

431.323

408.654

(b) Trade payables

5405.520

4754.303

4176.753

(c) Other current liabilities

98.971

126.440

194.278

(d) Short-term provisions

104.022

336.627

151.836

Total Current Liabilities (4)

5608.513

5648.693

4931.521

 

 

 

 

TOTAL

12385.955

11554.562

9830.572

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1430.903

1554.879

1833.878

(ii) Intangible Assets

2.506

0.825

2.556

(iii) Capital work-in-progress

218.776

23.313

20.912

(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)

110.384

205.757

76.656

(d)  Long-term Loan and Advances

356.801

325.969

353.095

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2119.370

2110.743

2287.097

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2380.038

2227.241

1846.189

(c) Trade receivables

3566.892

4619.065

3818.650

(d) Cash and cash equivalents

3874.879

2301.222

1851.353

(e) Short-term loans and advances

205.980

292.637

27.236

(f) Other current assets

238.796

3.654

0.047

Total Current Assets

10266.585

9443.819

7543.475

 

 

 

 

TOTAL

12385.955

11554.562

9830.572

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.08.2014

31.08.2013

31.08.2012

 

 

 

 

 

 

Net Sales

19648.492

18622.660

20486.974

 

 

 

 

 

 

Expenditure Including Depreciation and Financial Charges

17391.826

17455.643

18611.526

 

 

 

 

 

 

Profit / (Loss) Before Taxation

2289.842

1568.028

1941.516

 

 

 

 

 

 

Depreciation and Amortization

233.370

372.904

427.886

 

 

 

 

 

 

Interest on Term Loans

0.000

0.000

0.000

 

 

 

 

 

 

Other Interest

30.819

29.271

25.925

 

 

 

 

 

 

Profit/(Loss) After Taxation

1467.519

1008.553

1368.172

 

 

 

 

 

 

Profit/(Loss) Carried to Balance Sheet

2751.026

1882.417

873.864

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

17592.670

17749.047

NA

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

4.51

0.25

0.34

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.08.2014

31.08.2013

31.08.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

4005.309

1059.916

1991.252

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.08.2014

31.08.2013

31.08.2012

Net Profit Margin

(PAT / Sales)

(%)

7.47

5.42

6.68

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

18.99

13.85

19.95

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.34

0.27

0.40

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.07

0.08

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.83

1.67

1.53

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.08.2012

31.08.2013

31.08.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

4002.661

4002.661

3403.751

Reserves & Surplus

873.864

1882.417

3349.936

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

4876.525

5885.078

6753.687

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

408.654

431.323

0.000

Total borrowings

408.654

431.323

0.000

Debt/Equity ratio

0.084

0.073

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.08.2012

31.08.2013

31.08.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

20486.974

18622.660

19648.492

 

 

(9.100)

(5.509)

 

 

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.08.2012

31.08.2013

31.08.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

20486.974

18622.660

19648.492

Profit

1368.172

1008.553

1467.519

 

6.68%

5.42%

7.47%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

No

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

PARTICULAR

31.08.2014

31.08.2013

SHORT TERM BORROWINGS

 

 

Other loans and advance

0.000

431.323

 

 

 

Total

0.000

431.323

 

 

CORPORATE INFORMATION

Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956 on August 27, 2002 as PCB Contract Manufacturing Services (India) Private Limited, which was a subsidiary of Koninklijke Phillips Electronics N.V., Netherlands (KPENV).

 

The Company acquired the business involving assembly and customization of all types, varieties and specifications of printed circuit boards from Phillips India Limited (Phillips) with effect from November 23, 2002 in accordance with the terms of the Business transfer agreement.

 

On January 28, 2003, Jabil (Mauritius) Holdings Limited (the holding company) and Jabil Circuit UK acquired the shareholding of PCB Contract Manufacturing Services (India) Private Limited from KPENV. Consequently, the name of the Company was changed to its present name. The principle shareholders are group companies of Jabil Circuit Inc (the ultimate holding company).

 

The Company has sub leased factory premises from Phillips India Limited at M.I.D.C Bhosari Industrial Estate, Pimpri, Pune from where the business was carried on till July 2005, subsequent to which the entire operations were relocated to its own premises at Ranjangaon near Pune. The Company’s principle activities at Ranjangaon comprise of assembling printed circuit boards for Set Top boxes.

 

The Company has registered a part of its Ranjangaon factory under the Electronics and Hardware Technology Parks (EHTP) scheme in June 2007. Commercial production under the EHTP scheme had commenced in October 2007 and is catering to overseas customers as well as customers within the country having an export setup.

 

The Company had commenced commercial production of cell phone accessories at its Chennai unit (SEZ) situated in Nokia Telecom SEZ Sriperumbudur, Tamil nadu in October 2007, however the unit has discontinued operations from March 2009.

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments

 

Intangible assets

 

  • Computer software
  • Goodwill

 

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 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 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.64.17

UK Pound

1

Rs.99.85

Euro

1

Rs.70.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

63

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.