MIRA INFORM REPORT
|
Report No. : |
337923 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
IRCON
INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Plot No. C-4, District Centre, Saket, New Delhi – 110017 |
|
Tel. No.: |
91-11-29565666 / 26530456 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.04.1976 |
|
|
|
|
Com. Reg. No.: |
55-008171 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.198.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203DL1976GOI008171 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI0684H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is provides construction services. |
|
|
|
|
No. of Employees
: |
1579 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (88) |
|
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 |
|
Maximum Credit Limit : |
USD 85000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1976 as Indian Railway
Construction Company. It is a Central Government Company with 99.73% of holding
by Government of India. It has an excellent track record. The rating takes into consideration the established track record and
proven project execution capabilities of the company in varied construction
activities, technical expertise in the railway sector. Further, the company has strong financial risk profile along with zero
debt balance sheet profile, comfortable, profitability with decent sales
turnover. Trade relations are reported as fair. Business is active. Payment
terms are regular and as per commitment. In view of government holding and long business track record, the
company 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 |
CARE |
|
Rating |
Long term bank facilities
= AAA |
|
Rating Explanation |
Highest degree of
safety and carry lowest credit risk. |
|
Date |
December 12, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank
facilities = A1+ |
|
Rating Explanation |
Very strong degree of
safety and carry lowest credit risk. |
|
Date |
December 12, 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
Management non co-operative (91-11-29565666)
LOCATIONS
|
Registered Office : |
Plot No. C-4, District Centre, Saket, New Delhi – 110017, India |
|
Tel. No.: |
91-11-29565666 / 26530456 |
|
Fax No.: |
91-11-26522000 / 26854000 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Mohan Tiwari |
|
Designation : |
Managing Director |
|
Address : |
808, Nikka Singh Block, Asiad Village, New Delhi - 110049, India |
|
Date of Birth/Age : |
01.10.1958 |
|
Date of Appointment : |
08.08.2003 |
|
DIN No.: |
00191363 |
|
|
|
|
Name : |
Mr. Krishan Kumar Garg |
|
Designation : |
Whole-Time Director |
|
Address : |
556, Sachin Nag Block, Asiad Village, New Delhi - 110049, India |
|
Date of Birth/Age : |
15.04.1958 |
|
Date of Appointment : |
03.11.2009 |
|
DIN No.: |
01495050 |
|
|
|
|
Name : |
Mr. Hitesh Khanna |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No. 563, Sachin Nag Block, Asiad Village, New Delhi - 110049, India |
|
Date of Birth/Age : |
07.10.1958 |
|
Date of Appointment : |
07.03.2011 |
|
DIN No.: |
02789681 |
|
|
|
|
Name : |
Mr. Deepak Sabhlok |
|
Designation : |
Whole-Time Director |
|
Address : |
B-262, Asiad Village, New Delhi - 110049, India |
|
Date of Birth/Age : |
31.10.1959 |
|
Date of Appointment : |
16.04.2010 |
|
DIN No.: |
03056457 |
|
|
|
|
Name : |
Anjum Pervez |
|
Designation : |
Nominee Director |
|
Address : |
301-2c, Railway Officers Colony, Chelmsford Road, New Delhi - 110001, India |
|
Date of Birth/Age : |
17.09.1988 |
|
Date of Appointment : |
15.07.2013 |
|
DIN No.: |
06682287 |
|
|
|
|
Name : |
Mr. Hari Krishna Kala |
|
Designation : |
Nominee Director |
|
Address : |
533, RWF East Colony, Doddaballapura Road, Near NES Office Yelahanka, Bangalore - 560064, Karnataka, India |
|
Date of Appointment : |
02.06.2015 |
|
DIN No.: |
07200108 |
KEY EXECUTIVES
|
Name : |
Mr. Sumita Sharma |
|
Designation : |
Company Secretary |
|
Address : |
1245, Rani Bagh, Delhi, 110034, Delhi, India |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
AORPS5725B |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders |
No. of Shares |
|
President of India |
19738400 |
|
Bank of India |
4800 |
|
Indian Railway Finance Corporation |
48800 |
|
Kulbhushan Jai Prakash Goyal |
400 |
|
Pramod Kantilal Sharma |
400 |
|
Arunendra Kumar Gupta |
400 |
|
Deviprasad Pande |
400 |
|
Rashmi Kapoor |
400 |
|
Vijay Kumar Gupta |
400 |
|
Alok Ravishankar Johri |
400 |
|
Ashok Kumar Mittal |
400 |
|
Ajay Kumar Rawal |
400 |
|
Saroj Maharaj Singh Rajware |
400 |
|
Total |
19796000 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government
(Central and State) |
99.73 |
|
Government
Companies |
0.25 |
|
Nationalized or other banks |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is provides construction services. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
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 : |
1579 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Vinod Kumar and Associates Chartered Accountants |
|
Address : |
909, Chiranjiv Towers43, Nehru Place, New Delhi, India s |
|
PAN No.: |
AADFV0820A |
|
|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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Subsidiaries : |
|
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|
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|
Joint Ventures : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19796000 |
Equity Shares |
Rs.10/- each |
Rs.198.000
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 |
198.000 |
198.000 |
99.000 |
|
(b) Reserves &
Surplus |
29732.300 |
22805.700 |
17330.400 |
|
(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) |
29930.300 |
23003.700 |
17429.400 |
|
|
|
|
|
|
(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 |
1722.200 |
3826.100 |
2714.600 |
|
(d) long-term provisions |
4071.500 |
4201.000 |
4157.400 |
|
Total Non-current
Liabilities (3) |
5793.700 |
8027.100 |
6872.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
5945.000 |
6337.100 |
5299.100 |
|
(c) Other current
liabilities |
11780.100 |
17815.900 |
18819.600 |
|
(d) Short-term provisions |
8158.500 |
6922.200 |
4707.000 |
|
Total Current Liabilities
(4) |
25883.600 |
31075.200 |
28825.700 |
|
|
|
|
|
|
TOTAL |
61607.600 |
62106.000 |
53127.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1530.900 |
1779.300 |
1934.400 |
|
(ii) Intangible Assets |
0.100 |
0.000 |
0.100 |
|
(iii) Capital
work-in-progress |
156.400 |
8.800 |
24.000 |
|
(iv) Intangible assets
under development |
10.100 |
8.000 |
2.600 |
|
(b) Non-current Investments |
3182.100 |
2303.400 |
1957.900 |
|
(c) Deferred tax assets
(net) |
3013.700 |
2689.800 |
1893.800 |
|
(d) Long-term Loan and Advances |
6745.200 |
4040.700 |
3173.400 |
|
(e) Other Non-current
assets |
48.900 |
674.600 |
815.600 |
|
Total Non-Current Assets |
14687.400 |
11504.600 |
9801.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1760.200 |
649.500 |
125.100 |
|
(b) Inventories |
1188.000 |
1245.600 |
1345.100 |
|
(c) Trade receivables |
6624.300 |
10987.800 |
8466.000 |
|
(d) Cash and cash
equivalents |
26753.600 |
30837.700 |
26011.900 |
|
(e) Short-term loans and
advances |
5610.600 |
4447.600 |
4502.700 |
|
(f) Other current assets |
4983.500 |
2433.200 |
2874.500 |
|
Total Current Assets |
46920.200 |
50601.400 |
43325.300 |
|
|
|
|
|
|
TOTAL |
61607.600 |
62106.000 |
53127.100 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
40572.000 |
42208.400 |
36014.100 |
|
|
Other Income |
2493.700 |
2503.700 |
1805.100 |
|
|
TOTAL |
43065.700 |
44712.100 |
37819.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2606.100 |
4218.600 |
4501.900 |
|
|
Prior Period Items |
0.000 |
0.000 |
(114.900) |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
29.400 |
(193.700) |
219.200 |
|
|
Employees benefits
expense |
2210.700 |
1976.100 |
1583.100 |
|
|
Other expenses |
25008.000 |
28012.800 |
24745.200 |
|
|
TOTAL |
29854.200 |
34013.800 |
30934.500 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
13211.500 |
10698.300 |
6884.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
384.500 |
108.700 |
65.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
12827.000 |
10589.600 |
6819.600 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
336.400 |
442.300 |
568.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
12490.600 |
10147.300 |
6251.200 |
|
|
|
|
|
|
|
Less |
TAX |
3425.600 |
2847.400 |
1322.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
9065.000 |
7299.900 |
4929.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
600.200 |
557.400 |
214.400 |
|
|
TOTAL IMPORTS |
600.200 |
557.400 |
214.400 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
457.92 |
368.75 |
248.98 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
2691.500 |
10473.500 |
6794.700 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
22.34 |
17.29 |
13.69 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
32.56 |
25.35 |
19.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.61 |
17.77 |
12.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
0.44 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.63 |
1.50 |
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 |
99.000 |
198.000 |
198.000 |
|
Reserves & Surplus |
17330.400 |
22805.700 |
29732.300 |
|
Net worth |
17429.400 |
23003.700 |
29930.300 |
|
|
|
|
|
|
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 |
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 |
36014.100 |
42208.400 |
40572.000 |
|
|
|
17.200 |
(3.877) |
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 |
36014.100 |
42208.400 |
40572.000 |
|
Profit |
4929.000 |
7299.900 |
9065.000 |
|
|
13.69% |
17.29% |
22.34% |
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
LITIGATION DETAILS
|
IN THE HIGH COURT OF DELHI AT NEW DELHI O.M.P.(T) 14/2015 AND I.A. No. 12599/2015 HINDUSTAN CONSTRUCTION COMPANY LIMITED
…….
Petitioner Through: Mr.
Ananya Kumar and Ms. Pragya Chauhan, Advocates Versus IRCON INTERNATIONAL LIMITED
……..Respondent Through: Mr.
S.K. Jain Ms. Anmol Sharma and Ms. Garima Jain, Advocates O.M.P.(T) 15/2015 AND I.A. No. 12600/2015 HINDUSTAN CONSTRUCTION COMPANY LIMITED
……. Petitioner Through: Mr. Ananya
Kumar and Ms. Pragya Chauhan, Advocates Versus IRCON INTERNATIONAL LIMITED
……..Respondent Through: Mr.
S.K. Jain Ms. Anmol Sharma and Ms. Garima Jain, Advocates Order 29.07.2015 Hon’ble Mr. Justice J. R. Midha is not holding the court today. List on 25th August, 2015 BY
ORDER COURT
MASTER TO HMJ
J.R. MIDHA |
OUTLOOK
Vision, Mission, and Objectives of the Company as stated in its Memorandum of Understanding with the Ministry of Railways for 2014-15 are:-
Vision
To be recognized nationally and internationally as a specialised construction organization comparable with the best in the field covering the entire spectrum of construction activities and services in the infrastructure sector.
Mission
i) To effectively position the Company so as to meet the construction needs of infrastructure development of the changing economic scene in India and abroad.
ii) To earn global recognition by providing high quality products and services in time and in conformity with the best engineering practices.
Objectives
i) To enhance the size and value of business activities of the Company so as to achieve a turnover of Rs. 5500 crores by the year 2016-17.
ii) To achieve reasonable returns on the capital employed.
FINANCIAL PERFORMANCE
In the year 2013-14, the Company has registered total income of Rs. 43070.000 Million, as compared to the total income of Rs. 44710.000 Million achieved in 2012-13. Nearly 94% of the total income (amounting to Rs. 40670.000 Million) has arisen from operation, out of which 53% (Rs. 21370.000 Million) has been contributed by foreign projects. Operating income from foreign projects has increased by nearly 8.2% in the last one year.
Profit before tax increased by 23.05% from Rs.10150.000 Million in 2012-13 to Rs.12490.000 Million in 2013-14, and Profit after Tax has also increased by 24.25% from Rs.7300.000 Million in 2012-13 to Rs.9070.000 Million in 2013-14. Net Worth has increased by 30.13% during the year. Earnings per share have increased by 23.08% from Rs. 368.76 in 2012-13 to Rs. 453.88 in 2013-14.
The Board of Directors has recommended a dividend @ Rs. 41 per share (410% on the paid-up share capital) for consideration and declaration by the shareholders. The Company has already paid an interim dividend @ Rs. 51 per share (510%) in February 2014. The dividend of Rs.811.600 Million payable after declaration at the Annual General Meeting together with the interim dividend already paid (Rs.1009.600 Million) would take the total dividend pay-out for the year 2013-14 to Rs.1821.200 Million, which is 920% of the existing paid-up share
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10571230 |
12/08/2014 |
4,017,176.00 |
BNP PARIBAS |
EAST TOWERS (SOOD TOWERS), 8TH FLOOR, 25, BARAKHAMBA ROAD, NEW DELHI - 110001, Delhi, INDIA |
C53966271 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 : |
GAY |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
10 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
88 |
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.