MIRA INFORM REPORT
|
Report No. : |
338588 |
|
Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
FCA INDIA AUTOMOBILES PRIVATE LIMITED (w.e.f.20.03.2015) |
|
|
|
|
Formerly Known
As : |
FIAT GROUP AUTOMOBILES INDIA PRIVATE LIMITED (w.e.f.26.07.2012) AKAT
AUTOMOTIVE DISTRIBUTION COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Benefice Building, Mathuradas Mill Compound, 2nd Floor, Opposite Kamala
Mills Compound, Lower Parel (West), Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-39462600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
07.03.2012 |
|
|
|
|
Com. Reg. No.: |
11-227795 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1789.900
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50102MH2012PTC227795 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA41251A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCA3372J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distribution of FIAT branded motor vehicles, spare parts and conducting and carrying out Engineering and Procurement activity for FIAT branded motor vehicles and parts. |
|
|
|
|
No. of Employees
: |
83 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
FCA India Automobiles Private Limited is a subsidiary of FCA Italy
S.p.A. It is an established company having moderate track record. The company has incurred a huge accumulated loss which has eroded the
networth of the company. However, the company receives strong operational and financial support
from its parent company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong holding, the company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-22-39462600)
LOCATIONS
|
Registered Office : |
Benefice Building, Mathuradas Mill Compound, 2nd Floor, Opposite Kamala
Mills Compound, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-39462600 |
|
Fax No.: |
91-22-39462609 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.03.2015
|
Name : |
Mr. Kevin John Flynn |
|
Designation : |
Managing director |
|
Address : |
108 Hawtgorn Way Shepperton, TW17 8QD, London |
|
Date of Birth/Age : |
17.05.1959 |
|
Date of Appointment : |
05.02.2015 |
|
DIN No.: |
07087793 |
|
|
|
|
Name : |
Mr. Pindanappilly Anil Kumar |
|
Designation : |
Director |
|
Address : |
290-D, Pocket 2, Mayur Vihar, Phase I, Delhi – 110091, India |
|
Date of Birth/Age : |
12.01.1961 |
|
Date of Appointment : |
17.09.2013 |
|
DIN No.: |
03494014 |
|
|
|
|
Name : |
Mr. Stefano Luigi Salvini |
|
Designation : |
Director |
|
Address : |
Strada Ferrero Di, Cambiano 49, Moncalieri, Torino, Italy 10024 |
|
Date of Birth/Age : |
24.12.1965 |
|
Date of Appointment : |
17.09.2013 |
|
DIN No.: |
06714843 |
|
|
|
|
Name : |
Mr. Gerard Strayhorn Joseph |
|
Designation : |
Director |
|
Address : |
House No. 145, No. 2, Area Lane 599, Jinfeng Road, Shanghai |
|
Date of Birth/Age : |
19.03.1960 |
|
Date of Appointment : |
28.11.2014 |
|
DIN No.: |
07031106 |
KEY EXECUTIVES
|
Name : |
Mr. Harsh Kumar Mishra |
|
Designation : |
Secretary |
|
Address : |
A-503, Jasper CHS, Hirandani Estate, Thane (West), Mumbai – 400607,
Maharashtra, India |
|
Date of Birth/Age : |
24.06.1974 |
|
Date of Appointment : |
02.09.2013 |
|
PAN No.: |
AGAPM0649K |
|
|
|
|
Name : |
Mr. Ramesh Rao Kruttiuenti |
|
Designation : |
Chief Financial Officer |
|
Address : |
Flat 8045, Section D, Pocket 8, Vasant Kunj, New Delhi – 110070, India
|
|
Date of Birth/Age : |
02.12.1970 |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
AIDPK0403E |
|
|
|
|
Name : |
Mr. Ravi G Bhatia |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Mr. Sanjay Gopalakrishnan |
|
Designation : |
Assistant Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
FCA Italy S.p.A. (Formerly known as Fiat Group Automobiles S.p.A.),
Italy |
|
196989999 |
|
FGA Investimenti S.p.A., Italy |
|
1 |
|
|
|
|
|
Total |
|
196990000 |
AS ON 19.05.2015
|
Names of Allottee |
|
No. of Shares |
|
FCA Italy S.p.A. (Formerly known as Fiat Group Automobiles S.p.A.),
Italy |
|
11000000 |
|
|
|
|
|
Total |
|
11000000 |
AS ON 25.03.2015
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distribution of FIAT branded motor vehicles, spare parts and conducting and carrying out Engineering and Procurement activity for FIAT branded motor vehicles and parts. |
|
|
|
|
Brand Names : |
“FIAT” |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
83 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACGFS9180N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company : |
FCA Italy S.p.A. |
|
|
|
|
Fellow Subsidiary
company : |
· Chrysler Group International LLC · Chrysler Group LLC · Fiat I.T.E.M. SpA · Magneti Marelli Poland SO. Z.O.O. · Magneti Marelli Powertrain India Private Limited [U40300HR2007PTC046166] · Magneti Marelli UM Electronic Systems Private Limited [U32204HR2008PTC046212] · Magneti Marelli Motherson Shock Absorbers India Private Limited [U74900PN2008PTC132425] · Comau India Private Limited [U74999MH1997PTC110889] · FGA Investimenti S.p.A · Fiat Group Automobiles UK Limited |
CAPITAL STRUCTURE
AFTER 25.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
207,990,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2079.900
Million |
|
|
|
|
|
AS ON 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
178,990,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1789.900
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1789.900 |
937.900 |
112.100 |
|
(b) Reserves & Surplus |
(4035.649) |
(2897.748) |
(2185.850) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
900.000 |
500.000 |
750.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(1345.749) |
(1459.848) |
(1323.750) |
|
|
|
|
|
|
(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 |
10.931 |
7.658 |
5.834 |
|
Total
Non-current Liabilities (3) |
10.931 |
7.658 |
5.834 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
515.072 |
0.000 |
0.000 |
|
(b)
Trade payables |
3546.195 |
2977.031 |
2216.024 |
|
(c)
Other current liabilities |
201.718 |
223.750 |
81.743 |
|
(d)
Short-term provisions |
457.227 |
575.853 |
317.640 |
|
Total
Current Liabilities (4) |
4720.212 |
3776.634 |
2615.407 |
|
|
|
|
|
|
TOTAL |
3385.394 |
2324.444 |
1297.491 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
39.028 |
28.457 |
7.368 |
|
(ii)
Intangible Assets |
71.991 |
115.954 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
61.967 |
|
(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 |
39.825 |
31.166 |
108.965 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
150.844 |
175.577 |
178.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1007.135 |
356.976 |
410.378 |
|
(c)
Trade receivables |
482.733 |
497.575 |
20.748 |
|
(d)
Cash and cash equivalents |
95.368 |
673.175 |
672.373 |
|
(e)
Short-term loans and advances |
1636.596 |
619.985 |
15.186 |
|
(f)
Other current assets |
12.718 |
1.156 |
0.506 |
|
Total
Current Assets |
3234.550 |
2148.867 |
1119.191 |
|
|
|
|
|
|
TOTAL |
3385.394 |
2324.444 |
1297.491 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
|
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
7605.000 |
4682.000 |
388.430 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
12151.000 |
8697.000 |
3022.280 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(4546.000) |
(4015.000) |
(2633.850) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(4546.000) |
(4015.000) |
(2633.850) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of trading goods |
9.700 |
14.700 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of Cars |
|
5.461 |
|
|
|
|
Purchase of Intangible assets |
|
55.929 |
|
|
|
TOTAL IMPORTS |
NA |
205.657 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(33.5) |
(96.2) |
(234.96) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
(5731.491) |
(3867.701) |
(579.658) |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(134.28) |
(172.73) |
(213.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.38 |
2.75 |
1.99 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(0.38) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69 |
0.57 |
0.43 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.12.2013
[9 Months] |
31.12.2014
[12 Months] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
112.100 |
937.900 |
1789.900 |
|
Reserves & Surplus |
(2185.850) |
(2897.748) |
(4035.649) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
750.000 |
500.000 |
900.000 |
|
Net
worth |
(1323.750) |
(1459.848) |
(1345.749) |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
515.072 |
|
Total
borrowings |
0.000 |
0.000 |
515.072 |
|
Debt/Equity ratio |
0.000 |
0.000 |
-0.383 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.12.2013
[9
Months] |
31.12.2014
[12
Months] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
388.430 |
4682.000 |
7605.000 |
|
|
|
1,105.365 |
62.431 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.12.2013
[9
Months] |
31.12.2014
[12
Months] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
388.430 |
4682.000 |
7605.000 |
|
Profit/ (Loss) |
(2633.850) |
(4015.000) |
(4546.000) |
|
|
(678.08%) |
(85.75%) |
(59.78%) |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.12.2014 (Rs.
In Million) |
31.12.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
330.000 |
0.000 |
|
Other loans and advances |
185.072 |
0.000 |
|
|
|
|
|
Total |
515.072 |
0.000 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Corporate
Park - II, 5th Floor, Sion - Trombay Road, Mumbai - 400071, Maharashtra, India to
the present address w.e.f.20.12.2012
CORPORATE INFORMATION:
Fiat
Group Automobiles India Private Limited (the Company) is a private limited
company incorporated in India on March 07, 2012 and is a wholly owned
subsidiary of FCA Italy S.p.A. (formerly known as Fiat Group Automobiles
S.p.A., Italy). The Company is licensed by its holding company under a Vehicle
Product License Agreement to manufacture, by itself or through other
manufacturers, and distribute, the Fiat branded vehicles and spare parts. The
Company has an arrangement to get the Fiat Branded vehicles manufactured in
India through Fiat India Automobiles Limited (a 50:50 Joint venture between
Tata Motors Limited and FCA Italy S.p.A.). The Company also carries out
engineering, procurement, import and distribution activities of vehicles and
spare parts of other brands owned by FCA group.
PROPOSED NAME CHANGE OF THE COMPANY
In
keeping with the newly adopted global identity of Fiat Chrysler Automobiles
(FCA) group, the Company has made an application to the Ministry of Corporate
Affairs, Government of India in the month of February 2015 to change its name
to FCA India Automobiles Private Limited which is under consideration with the
said Ministry. Approval of the Shareholders for the said proposed name change
has been obtained by way of a special resolution passed at the extraordinary
general meeting of the Company held on 29th January 2015.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2014 (Rs.
In Million) |
31.12.2013 (Rs.
In Million) |
|
|
|
|
|
Bank Guarantee |
4.401 |
1.000 |
|
Bank Guarantee of 4.000 Million was given to Central excise department against execution of UT-1 Form (Letter of undertaking), which is used for export of spare parts without payment of excise duty and bank guarantee of 0.400 Million was given to Federation of Indian Chambers of Commerce and Industry against issue of ATA Carnet, which is used for export of vehicle. |
||
FIXED ASSETS:
·
Plant and equipment
·
Furniture and fixtures
·
Office equipment
·
Computer equipments
·
Other equipments
·
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. 66.06 |
|
|
1 |
Rs. 102.35 |
|
Euro |
1 |
Rs. 74.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.