MIRA INFORM REPORT
|
Report No. : |
337898 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLSMIDTH PRIVATE
LIMITED |
|
|
|
|
Formerly Known
As : |
FLS AUTOMATION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Flsmidth House" 34, Egatoor, Rajiv Gandhi Salai, Kelambakkam, Chennai – 603103, Tamilnadu |
|
Tel. No.: |
91-44-47481000 / 27411000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.04.2000 |
|
|
|
|
Com. Reg. No.: |
18-044765 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.258.433 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26941TN2000PTC044765 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4997N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries ("Project Division") and renders related services and also renders certain engineering, information technology and related services. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 |
|
Maximum Credit Limit : |
USD 21000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of “FLSmidth Group”. It is a well-established
company having fine track record. Rating reflects company’s strong financial risk profile marked by
healthy capital structure from its sound networth base and strong debt
protection metrics and comfortable liquidity position during the year 2014. Trade relations are trustworthy. Business is active. Payment terms are
reported as regular and as per commitment. In view of strong support from its holding company, subject can be
considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bank
facilities = AA- |
|
Rating Explanation |
High degree of
safety and very low credit risk. |
|
Date |
January, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term bank
facilities = A1+ |
|
Rating Explanation |
Very strong degree of
safety and carry lowest credit risk. |
|
Date |
January, 2014 |
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 BY
|
Name : |
Mr. Prassana |
|
Designation : |
Secretary of Chief Financial Officer |
|
Contact No.: |
91-44-47481000 |
|
Date : |
24.08.2015 |
LOCATIONS
|
Registered Office : |
"Flsmidth House" 34, Egatoor, Rajiv Gandhi Salai, Kelambakkam, Chennai – 603103, Tamilnadu, India |
|
Tel. No.: |
91-44-47481000 / 27411000 |
|
Fax No.: |
91-44-27470301/ 0302 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Express Trade Tower 3, 1st and 2nd Floor, Plot No.79, Hero Honda Chowk, Sector-34, Gurgaon - 122001, Haryana, India |
|
Tel. No.: |
91-124-308700 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 7, Sector-8, HSIIDC Growth Centre, Bawal, District Rewari - 123501, Haryana, India |
|
Tel. No.: |
91-1284-337501-02 |
DIRECTORS
As on 26.12.2014
|
Name : |
Carsten Riisberg Lund |
|
Designation : |
Managing Director |
|
Address : |
Wallerfanger Strabe 25,, 66740 Saarlouis, Saarlouis, Na, Germany |
|
Date of Birth/Age : |
03.12.1962 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06375501 |
|
|
|
|
Name : |
Stephen James Gaffney |
|
Designation : |
Director |
|
Address : |
12 Perth Street, Camp Hill, Queensland - 4152, Australia |
|
Date of Birth/Age : |
06.05.1971 |
|
Date of Appointment : |
07.05.2013 |
|
DIN No.: |
06571464 |
|
|
|
|
Name : |
Mr. Sivasubramanian Natarajan |
|
Designation : |
Additional Director |
|
Address : |
New No.27, Old No.46-F, Veerapandi Nagar 1st Cross, Street, Choolaimedu, Chennai - 600094, Tamilnadu, India |
|
Date of Appointment : |
19.02.2015 |
|
DIN No.: |
07065048 |
KEY EXECUTIVES
|
Name : |
Mr. Prassana |
|
Designation : |
Secretary of Chief Financial Officer |
|
|
|
|
Name : |
Mr. Viraraghavan Vijayagopal |
|
Designation : |
Company Secretary |
|
Address : |
GF-2 Akshaya 12 Chamiers Road, Nandanam, Chennai - 600035, Tamil Nadu, INDIA |
|
Date of Appointment : |
06.11.2000 |
|
PAN No.: |
AADPV2272J |
MAJOR SHAREHOLDERS
As on 26.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Flsmidth Minerals Holding Aps, Denmark |
|
16999900 |
|
Flsmidth Minerals Holding Aps And Flsmidth A/S, Denmark |
|
100 |
|
Flsmidth Minerals Holding Aps, Denmark |
|
24143314 |
|
Total |
|
41143314 |
As on 26.12.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries ("Project Division") and renders related services and also renders certain engineering, information technology and related services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV 'N' Ramana Tower, No.52, Venkatnarayana Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
FLSmidth Minerals Holding ApS, Denmark |
|
|
|
|
Holding Company of
the Holding Company : |
FLSmidth A/S, Denmark |
|
|
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|
Ultimate Holding
Company : |
FLSmidth and Company A/S, Denmark |
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Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45200000 |
Equity Shares |
Rs.10/- each |
Rs.452.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25843314 |
Equity Shares |
Rs.10/- each |
Rs.258.433
Million |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
258.433 |
258.433 |
258.433 |
|
(b) Reserves &
Surplus |
7419.801 |
7312.122 |
7021.744 |
|
(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) |
7678.234 |
7570.555 |
7280.177 |
|
|
|
|
|
|
(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 |
190.059 |
669.689 |
625.564 |
|
(d) long-term provisions |
0.000 |
18.003 |
48.424 |
|
Total Non-current
Liabilities (3) |
190.059 |
687.692 |
673.988 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6.976 |
0.000 |
0.000 |
|
(b) Trade payables |
4823.965 |
3906.429 |
3241.556 |
|
(c) Other current
liabilities |
4937.671 |
2845.354 |
4415.487 |
|
(d) Short-term provisions |
1283.083 |
1597.572 |
1219.970 |
|
Total Current Liabilities
(4) |
11051.695 |
8349.355 |
8877.013 |
|
|
|
|
|
|
TOTAL |
18919.988 |
16607.602 |
16831.178 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3442.729 |
3125.329 |
1779.619 |
|
(ii) Intangible Assets |
0.803 |
1.793 |
0.282 |
|
(iii) Capital
work-in-progress |
17.562 |
71.649 |
30.905 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.896 |
663.176 |
2279.020 |
|
(c) Deferred tax assets
(net) |
169.176 |
121.548 |
93.299 |
|
(d) Long-term Loan and Advances |
496.933 |
550.965 |
446.295 |
|
(e) Other Non-current
assets |
1911.080 |
819.625 |
879.328 |
|
Total Non-Current Assets |
6039.179 |
5354.085 |
5508.748 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
40.352 |
170.990 |
160.376 |
|
(b) Inventories |
943.060 |
789.159 |
627.388 |
|
(c) Trade receivables |
7005.818 |
6299.882 |
6474.732 |
|
(d) Cash and cash
equivalents |
1146.329 |
1492.411 |
1342.459 |
|
(e) Short-term loans and
advances |
2216.192 |
1373.679 |
1377.991 |
|
(f) Other current assets |
1529.058 |
1127.396 |
1339.484 |
|
Total Current Assets |
12880.809 |
11253.517 |
11322.430 |
|
|
|
|
|
|
TOTAL |
18919.988 |
16607.602 |
16831.178 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
18459.062 |
18726.302 |
18678.980 |
|
|
Other Income |
328.028 |
130.789 |
211.276 |
|
|
TOTAL |
18787.090 |
18857.091 |
18890.256 |
|
|
|
|
|
|
|
Less |
EXPENSES |
18357.295 |
18213.848 |
17690.468 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
429.795 |
643.243 |
1199.788 |
|
|
|
|
|
|
|
Less |
TAX |
3.767 |
208.824 |
603.164 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
426.028 |
434.419 |
596.624 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
3921.347 |
3888.588 |
3291.964 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
4347.375 |
3921.347 |
3888.588 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Contract Revenue |
NA |
1204.520 |
597.247 |
|
|
Export of Products, Spares,
Parts and Components |
NA |
680.774 |
491.896 |
|
|
Sale from Services |
NA |
2076.948 |
2574.877 |
|
|
Commission Received |
NA |
4.374 |
39.873 |
|
|
Recovery of Costs |
NA |
68.793 |
60.200 |
|
|
Dividend Income |
NA |
0.236 |
0.898 |
|
|
TOTAL EARNINGS |
NA |
4035.645 |
3764.991 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
206.368 |
5.985 |
|
|
Components and Stores
parts |
NA |
1396.311 |
1885.836 |
|
|
Capital Goods |
NA |
13.348 |
14.098 |
|
|
TOTAL IMPORTS |
NA |
1616.027 |
1905.919 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
16.49 |
16.81 |
23.09 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
NA |
0.000 |
0.804 |
|
Net cash flows from (used in) operations |
(4.380) |
1160.854 |
965.536 |
|
Net cash flows from (used in) operating activities |
(346.249) |
883.858 |
379.807 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.31 |
2.32 |
3.19 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.33 |
3.43 |
6.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.29 |
4.08 |
8.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.08 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.35 |
1.28 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
258.433 |
258.433 |
258.433 |
|
Reserves & Surplus |
7021.744 |
7312.122 |
7419.801 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
7280.177 |
7570.555 |
7678.234 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
6.976 |
|
Total borrowings |
0.000 |
0.000 |
6.976 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.001 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
18678.980 |
18726.302 |
18459.062 |
|
|
|
0.253 |
(1.427) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
18678.980 |
18726.302 |
18459.062 |
|
Profit |
596.624 |
434.419 |
426.028 |
|
|
3.19% |
2.32% |
2.31% |
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 |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
MADRAS HIGH COURT |
|
|
CASE STATUS INFORMATION SYSTEM |
|
|
Case Status |
Pending |
|
Status of |
APPLICATION 4570 OF 2015 |
|
Litigants |
HUMBOLDT WEDAG INDIA (P) LIMITED, Vs. FLSMIDTH PRIVATE LIMITED |
|
Pet’s Adv. |
C. Daniel and Gladys Daniel |
|
Res’s Adv. |
--- |
|
Last Date Hearing |
--- |
|
Next / Final Date of Hearing |
--- |
|
Case Updated on |
Friday, July 10, 2015 |
|
Category |
--- |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM BORROWING |
|
|
|
Loans repayable on demand from banks |
1.631 |
0.000 |
|
Other loans and advances |
5.345 |
0.000 |
|
Total |
6.976 |
0.000 |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR):
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Bills
drawn on customers and discounted with Banks |
136.149 |
76.332 |
|
Outstanding letters of
credit with Bankers favouring Company’s
Suppliers are as below: |
|
|
|
-
US Dollars |
16.119 |
0.00 |
|
-
SEK |
0.000 |
11.736 |
|
-
Indian Rupees |
11.757 |
101.918 |
|
Claims
against the Company Not acknowledged as Debts: |
|
|
|
Service
Tax matters in Appeal |
7.462 |
7.462 |
|
Penalty
for Non-fulfillment of Export Obligations and the anticipated
customs duty liability |
57.387 |
57.387 |
|
Disallowance
on Tax Exemption - CST |
7045.897 |
0.000 |
|
Disallowance
on VAT Assessment |
2599.617 |
0.000 |
|
The
demand raised by the ESIC department against which Company
had filed an appeal before ESI Court, Gurgaon. (Amount
deposited Rs.418,328) |
1.628 |
1.628 |
|
Liquidated
damages deducted by customers not accepted by the Company
and pending settlement |
145.101 |
187.515 |
|
Show
Cause Notices Not acknowledged as Debts: |
|
|
|
Service
Tax |
1580.935 |
21.557 |
CORPORATE INFORMATION
The company was incorporated on 18 April 2000 [Corporate Identity Number (CIN): U26941TN2000PTC044765] and is a subsidiary of FLSmidth Minerals Holding ApS, Denmark. The Ultimate Holding Company is FLSmidth & Co. A/S, Denmark. The Company is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries ("Project Division") and renders related services. The Company also renders certain engineering, information technology and related services to its Group Companies. Pursuant to the receipt of approval from Hon’ble High Court of Judicature at Madras vide its order dated 7th February 2014 for the Scheme of Amalgamation between Ludowici India Private Limited ("LIPL") and Ludowici Mining Process India Private Limited ("LMPIPL"), Wholly Owned Subsidiaries and the Company, the assets and liabilities of Ludowici India Private Limited and Ludowici Mining Process India Private Limited have been transferred to the Company w.e.f. 1 April 2013. Pursuant to the receipt of approval from Hon’ble High Court of Judicature at Bombay vide its order dated 27th June 2014 for the Scheme of Amalgamation between FLSmidth Pfister India Limited ("Pfister"), Wholly Owned Subsidiary and the Company, the assets and liabilities of FLSmidth Pfister India Limited have been transferred to the Company w.e.f 1 April 2013. Refer Note 43A and 43B for details of the Amalgamation and related adjustments.
MERGER
The Scheme of amalgamation of Ludowici India Private Limited and Ludowici Mining Process India Private Limited (which became a subsidiary during the year) with the Company was approved by the High Court of Judicature at Madras on 7 th February 2014 with effect from 1 st April 2013 (the Appointed Date) which has been given effect to in the accounts.
The Scheme of amalgamation of FLSmidth Pfister India Limited with the Company was approved by the High Court of Judicature at Bombay on 27 th June 2014 with effect from 1 st April 2013 (the Appointed Date) which has been given effect to in the accounts.
PERFORMANCE REVIEW
The performance of the Company was satisfactory during the period.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No 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.66.70 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SNT / PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
68 |
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.