MIRA INFORM REPORT
|
Report No. : |
352729 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOMATSU INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot No.A-1, SIPCOT Industrial Park, Growth Centre, Orgadam,
Sriperumbudur Taluk, Kanchipuram – 602105, Tamilnadu |
|
Tel. No.: |
91-44-27155000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.12.2005 |
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Com. Reg. No.: |
18-058357 |
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Capital Investment
/ Paid-up Capital : |
Rs. 6690.455 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U29244TN2005PTC058357 |
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IEC Code : |
0406005818 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEK07797G |
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PAN No.: [Permanent Account No.] |
AACCK7292H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of construction equipment like, excavator,
dumper, Dump Trucks, Reman Engine and Spare Parts. [Confirmed by Management] |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1069000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Rating is constrained on company’s moderate financial risk profile and
huge losses incurred by a company from its operational activities. Rating further constrained on account of company’s negative reserves
and leverage balance sheet of the company. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of leverage balance sheet profile, the company can be
considered for business dealing with some cautions. |
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
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
31-03-2015.
LOCATIONS
|
Registered Office : |
Plot No.A-1, SIPCOT Industrial Park, Growth Centre, Orgadam,
Sriperumbudur Taluk, Kanchipuram – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27155000/ 27155065/ 27155090/ 27155072/ 27155085 |
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Fax No.: |
91-44-27155085 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
‘Pride Quadra' 1st Floor, No.30, Bellary Road, Hebbal, Bangalore - 560024, Karnataka, India |
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Tel. No.: |
91-80-23556021~26 |
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Fax No.: |
91-80-23556020 |
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|
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Branch Office 2 : |
517-519, 5th Floor, Vipul Trade Center, Sec-48 Sohna Road, Gurgaon -122004, Haryana, India |
|
Tel. No.: |
91-124-4196900 |
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Fax No.: |
91-124-4196910 |
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Branch Office 3 : |
Plot No. A-64, H – Block, MIDC Pimpri, Pune – 411018, Maharashtra, India |
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Other Branch Offices : |
Located at : · Delhi · Nagpur · Kolkata |
DIRECTORS
AS ON 20.08.2014
|
Name : |
Korekiyo Yanagisawa |
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Designation : |
Director |
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Address : |
No.202, Winchester Apartments, No.3, Rest House Crescent Road, Bangalore - 560001, Karnataka, India |
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Date of Appointment : |
24.08.2011 |
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DIN No.: |
02833435 |
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|
Name : |
Jun Takashima |
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Designation : |
Director |
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Address : |
Row House No 136b Sobha Malachite, 3rd Phase Jakkur Plantations Jekkur Post Yelahanka, Bangalore - 560064, Karnataka, India |
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Date of Birth/Age : |
20.07.1962 |
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Date of Appointment : |
20.04.2011 |
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DIN No.: |
03591878 |
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Name : |
Isao Oya |
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Designation : |
Director |
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Address : |
No.5 Bougainvillea 11, 12 Bishop Waller Avenue, CIT Colony Mylapore, Chennai - 600004, Tamil Nadu, India |
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Date of Birth/Age : |
04.01.1967 |
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Date of Appointment : |
02.01.2012 |
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DIN No.: |
05195441 |
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Name : |
Kiyoshi Mizuhara |
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Designation : |
Managing director |
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Address : |
Flat No.203, 1st Floor, Embassy Orchid, Sadashiva Nagar, Bangaluru, 560080, Karnataka, India |
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Date of Birth/Age : |
13.01.1960 |
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Date of Appointment : |
01.04.2013 |
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DIN No.: |
06574215 |
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Other Directorship :
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Name : |
Masaaki Kamizono |
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Designation : |
Director |
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Address : |
Villa No 168b, Shobha Malachite-III, Jakkur, Bangalore, 560064, Karnataka, India |
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Date of Birth/Age : |
04.07.1966 |
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Date of Appointment : |
08.04.2014 |
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DIN No.: |
06878057 |
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Name : |
Mr. Hirotada Osari |
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Designation : |
Director |
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|
Address : |
Aju Ryokan Pvt Ltd, A-13 Green Wood City Sector-45 Gurgaon, Haryana - 122002, Japan |
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|
Date of Appointment : |
06.04.2015 |
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DIN No.: |
07183285 |
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KEY EXECUTIVES
|
Name : |
T Lakshminarayana |
|
Designation : |
Secretary |
|
Address : |
35/64, Bajanai Koil Street, Choolaimedu, Chennai -- 600094, Tamil Nadu, India |
|
Date of Birth/Age : |
31.07.1967 |
|
Date of Appointment : |
02.01.2009 |
|
PAN No.: |
AAGPT5228H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.08.2014
|
Names of Shareholders |
No. of Shares |
|
Komatsu Asia and Pacific Pte. Limited, Singapore |
464499999 |
|
Komatsu Parts Asia Co. Limited, Thailand |
1 |
|
Komatsu Limited, Japan |
204545454 |
|
|
|
|
Total |
669045454 |
AS ON 20.08.2014
|
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 : |
Manufacturer, Exporter and Importer of construction equipment like, excavator,
dumper, Dump Trucks, Reman Engine and Spare Parts. [Confirmed by Management] |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
|
Address : |
10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Ultimate Holding Company: |
Komatsu Limited |
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Holding Company: |
Komatsu Asia and Pacific Pte Limited |
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Fellow Subsidiaries : |
· Bangkok Komatsu Co. Limited · Hensley Industries Inc. · Komatsu (Changzhou) Construction Co. · Komatsu (Shanghai) Limited · Komatsu America Corporation · Komatsu Castex Limited · Komatsu Do Brasil Limited · Komatsu Engineering Corporation · Komatsu Europe International NV · Komatsu General Services Limited · Komatsu Industries (Thailand) Co., Limited · Komatsu Industries Corp · Komatsu Industries Europe Gmbh · Komatsu Logistics Corporation · Komatsu Manufacturing Russia LLC · Komatsu Mining Germany GMBH · Komatsu Parts Asia Co., Limited · Komatsu Shantui · Construction Machinery Co Limited · Komatsu Southern Africa (Pty) Limited · Komatsu Under Carriage, · Komatsu Utility Co. Limited · PT Komatsu Marketing and Support ID · PT Komatsu Under Carriage · PT. Komatsu Indonesia ·
PT. Komatsu Patria Attachment |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
669,045,454 |
Equity Shares |
Rs. 10/- each |
Rs. 6690.455 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
669,045,454 |
Equity Shares |
Rs. 10/- each |
Rs. 6690.455
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 |
6690.455 |
4645.000 |
4645.000 |
|
(b) Reserves & Surplus |
(2949.901) |
(2443.925) |
(2008.530) |
|
(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) |
3740.554 |
2201.075 |
2636.470 |
|
|
|
|
|
|
(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 |
61.007 |
45.133 |
41.218 |
|
Total
Non-current Liabilities (3) |
61.007 |
45.133 |
41.218 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3166.749 |
3110.583 |
4222.988 |
|
(b)
Trade payables |
2111.017 |
586.869 |
1278.800 |
|
(c)
Other current liabilities |
264.803 |
245.473 |
173.281 |
|
(d)
Short-term provisions |
38.035 |
22.344 |
10.565 |
|
Total
Current Liabilities (4) |
5580.604 |
3965.269 |
5685.634 |
|
|
|
|
|
|
TOTAL |
9382.165 |
6211.477 |
8363.322 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
755.449 |
737.441 |
753.805 |
|
(ii)
Intangible Assets |
5.421 |
6.617 |
7.813 |
|
(iii)
Capital work-in-progress |
5.387 |
7.177 |
0.649 |
|
(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 |
523.227 |
276.241 |
296.065 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1289.484 |
1027.476 |
1058.332 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3361.516 |
2739.682 |
2853.867 |
|
(c)
Trade receivables |
3691.764 |
1353.652 |
2792.504 |
|
(d)
Cash and cash equivalents |
243.536 |
172.149 |
89.713 |
|
(e)
Short-term loans and advances |
788.739 |
906.153 |
1496.277 |
|
(f)
Other current assets |
7.126 |
12.365 |
72.629 |
|
Total
Current Assets |
8092.681 |
5184.001 |
7304.990 |
|
|
|
|
|
|
TOTAL |
9382.165 |
6211.477 |
8363.322 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12306.180 |
6415.390 |
8890.580 |
|
|
|
Other Income |
292.700 |
462.89 |
667.560 |
|
|
|
TOTAL (A) |
12598.880 |
6878.280 |
9558.140 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
13544.060 |
7115.290 |
9155.110 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(945.180) |
(237.010) |
403.030 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
107.310 |
107.850 |
179.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(1052.490) |
(344.860) |
223.270 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.030 |
90.530 |
91.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(1160.520) |
(435.390) |
132.030 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1160.520) |
(435.390) |
132.030 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(2443.920) |
(2008.530) |
(2140.560) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3604.440) |
(2443.920) |
(2008.530) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.73) |
(0.94) |
0.28 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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 |
(2214.504) |
1439.682 |
(1830.117) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(9.43) |
(6.79) |
1.49 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(7.68) |
(3.69) |
4.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.38) |
(7.02) |
1.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.31) |
(0.20) |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.85 |
1.41 |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.31 |
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 |
4645.000 |
4645.000 |
6690.455 |
|
Reserves & Surplus |
(2008.530) |
(2443.925) |
(2949.901) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2636.470 |
2201.075 |
3740.554 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
4222.988 |
3110.583 |
3166.749 |
|
Total
borrowings |
4222.988 |
3110.583 |
3166.749 |
|
Debt/Equity
ratio |
1.602 |
1.413 |
0.847 |
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 |
8890.580 |
6415.390 |
12306.180 |
|
|
|
(27.841) |
91.823 |
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 |
8890.580 |
6415.390 |
12306.180 |
|
Profit |
132.030 |
(435.390) |
(1160.520) |
|
|
1.49% |
(6.79%) |
(9.43%) |
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) |
Yes |
|
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
1438.583 |
|
Working capital loans from banks |
3166.749 |
1672.000 |
|
|
|
|
|
Total |
3166.749 |
3110.583 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from I-B, ‘Prabha’
17, Bishop Wallers Avenue (east), Mylapore, Chennai – 600004, Tamilnadu, India
to the present address.
BACKGROUND
The company was incorporated on 19 December 2005 as a wholly owned subsidiary of Komatsu Asia Pacific Pte Limited, a Company registered in Singapore. The Company forms part of Komatsu Limited group, Japan. The Company is engaged in the business of manufacture and sale of dump trucks, reman engine and spare parts.
ISO 14001CERTIFICATION:
As informed earlier, the Company has obtained the SIO14001:2004 certification from Bureau VERITAS Certification (India) Private Limited on 8th January 2010 and has become an environmental friendly company. The validity of the certificate is subject to compliance of annual surveillance audit. The Re-certification is due for renewal in November 2014.
DIVERSIFICATION OF
BUSINESS AND STRENGTHEN THE OPERATIONS:
As informed in the previous year in order to cater to the needs of domestic customers in construction and mining industry, a new line of product called Hydraulic Excavators have started from April 2013 in association with LTCEL in Bangalore. As per the MOU, LTCEL will manufacture and sell the products to KIPL. KIPL in turn will sell to the customers in accordance with marketing and support arrangement with L and T. KIPL has obtained a dealer license to carry out the above activities. In order to avoid the delay in supply of products to the customers in North Eastern Area, sales depots have been opened at Ahmadabad, Bhopal, Durgapur, Guwahati Ranchi and Udaipur. The company is in the process of setting up a new manufacturing facility for the manufacture of Hydraulic Excavators, which is expected to commence its operation in the next year.
CHALLENGES AND
BOTTLENECKS AND STEPS TAKEN TO OVERCOME:
The company has been facing challenges due to bottlenecks like tough competition, Government policy on environment, high input costs due to large dependency on imports. In order to overcome these difficulties, the company has taken lot of steps to improve the business operations, like exploration of export market and localization of inputs thereby reduce the dependency on imports and improve the profitability
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Other plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
·
Leasehold Improvements
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.66.81 |
|
|
1 |
Rs.100.37 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.