MIRA INFORM REPORT
|
Report No. : |
352731 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
Tower XIV, Cybercity, Magarpatta City Hadapsar, Pune – 411 013,
Maharashtra |
|
Tel. No.: |
91-20-66425000 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.12.1997 |
|
|
|
|
Com. Reg. No.: |
11-112441 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2783.574 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74220PN1997PTC112441 |
|
|
|
|
IEC No.: |
3100006364 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ00773D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4233B |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
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|
Line of Business
: |
Subject is primarily engaged in the manufacturing and
marketing of tractor and related agriculture products, and providing IT and
IT enabled services. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of ‘John Deere Asia Singapore Pte Limited’, Singapore. It is mainly engaged in the manufacturing and marketing of tractor and related products (agriculture products) and providing IT and IT enabled services. For the financial year ended 2014, company has reported 26.54% sales turnover growth as compared to previous sales turnover and it has maintained average profitability margin at 4.96% during the year under review. Rating takes into consideration company’s established track record of business operations marked by its sound financial base along with adequate net worth position and satisfactory debt coverage indicators. Rating also takes into account of strong financial and managerial support that company receives from its joint venture entity backed by its well experienced management team. Trade relations are reported as fair. Payments are reported to be regular and as per commitments. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. Note: As per registrar of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but the documents related to the financials for the year 31.03.2015 are not available from any source. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-020-66425000 |
|
Date : |
02.12.2015 |
LOCATIONS
|
Registered Office / Technology Center : |
Tower XIV, Cybercity, Magarpatta City Hadapsar, Pune – 411 013,
Maharashtra, India |
|
Tel. No.: |
91-20-66425013/ 66425000/ 67264510 |
|
Fax No.: |
91-20-66425001 |
|
E-Mail : |
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|
Website : |
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|
|
|
Factory 1 : |
Off Pune Nagar Road, Sanaswadi, Pune - 412208, Maharashtra, India |
|
Tel. No. : |
91-2137-667111 |
|
|
|
|
Factory 2 : |
Survey No. 501, Near Dewas-Bhopal Highway, Village-Khatamba,
Post-Jamgod, District-Dewas – 455115, Madhya Pradesh, India |
|
|
|
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Factory 3 : |
Sanghar Warehousing, Gat 26/1 and 27, Nagar Road, Lonikand, Pune –
412216, Maharashtra, India |
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|
|
|
Factory 4 : |
Village-Amampur, Chalaila Road, District-Patiala-147001, Punjab, India |
|
|
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Factory 5: |
Sr No. 168, 169, 171, 275, Mauja, Gondhkairi, Taluka – Kalmeshwar,
Nagpur – 440023, Maharashtra, India |
DIRECTORS
AS ON 06.06.2014
|
Name : |
Mr. Rajesh Kumar Sinha |
|
Designation : |
Director |
|
Address : |
Y-602, Sacred Heart Town, Waneworie, Pune-411040, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1969 |
|
Date of Appointment : |
04.05.2013 |
|
DIN No.: |
06448595 |
|
|
|
|
Name : |
Mr. Ravi Chudamani Guttal |
|
Designation : |
Director |
|
Address : |
5021, Black Hawk Tran CT, Bettendore IA 411028, USA |
|
Date of Birth/Age : |
07.06.1967 |
|
Date of Appointment : |
04.05.2013 |
|
DIN No.: |
06453125 |
|
|
|
|
Name : |
Mr. Ravi Achyutha Menon |
|
Designation : |
Director |
|
Address : |
606, Cosmos Building R, Magar, Patta City, Hadapsar, Pune – 411 028,
Maharashtra, India |
|
Date of Birth/Age : |
15.07.1961 |
|
Date of Appointment : |
13.07.2012 |
|
DIN No.: |
05344407 |
|
|
|
|
Name : |
Mr. Satish Bhimarao Nadiger |
|
Designation : |
Managing Director |
|
Address : |
No.601, Building A3, Aditya Shagun, NDA, Pashan Road, Bavadhan, Pune –
411 021, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1963 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
00633892 |
|
|
|
|
Name : |
Mr. Ritu Raj |
|
Designation : |
Director |
|
Address : |
A-702, Water Front, Kalyani Nagar, Pune – 411006, Maharashtra, India |
|
Date of Birth/Age : |
16.03.1971 |
|
Date of Appointment : |
06.06.2014 |
|
DIN No.: |
06762617 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit Prakash Jain |
|
Designation : |
Secretary |
|
Address : |
Flat No.602, Building D/1, Bramha Suncity, Vadgaon Sheri, Pune – 411
014, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1974 |
|
Date of Appointment : |
02.06.2012 |
|
PAN No: |
ABMPJ8624L |
MAJOR SHAREHOLDERS
As on 06.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
John Deere Asia (Singapore) Private Limited,
Singapore |
|
278357343 |
|
Deere and Company, US |
|
10 |
|
Total |
|
278357353 |
Equity Share Break up (Percentage of Total Equity)
AS ON 06.06.2014
|
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 : |
Subject is primarily engaged in the manufacturing and
marketing of tractor and related agriculture products, and providing IT and
IT enabled services. [Registered
Activity] |
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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 : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Beasant Road, Opposite Shivsagar Industrial Estate,
Worli, Mumbai - 400018, Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ASDFG1234H |
|
|
|
|
Auditors : |
|
|
Name : |
Jdnassa and Associates Chartered Accountants |
|
Address : |
Flat /no. 9/7, Karan Aniket, Level 5/4, Plot No. 37, Shri Varanasi
Scoiety, Behind Atul Nagar, Off Mumbai Banglore By-Pass, Warji, Pune –
411058, Maharashtra, India |
|
Tel. No.: |
91-20-25204357/4359 |
|
|
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding Company: |
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Fellow Subsidiaries : |
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Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 06.06.2014
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
653641000 |
Equity Shares |
Rs.10/- each |
Rs.6536.410 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
278357353 |
Equity Shares |
Rs.10/- each |
Rs. 2783.574 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 |
2783.570 |
3448.570 |
3448.570 |
|
(b) Reserves & Surplus |
13039.800 |
14468.370 |
12562.040 |
|
(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) |
15823.370 |
17916.940 |
16010.610 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3900.980 |
3799.950 |
3559.150 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
6.630 |
|
(c) Other long term
liabilities |
245.950 |
223.940 |
259.090 |
|
(d) long-term
provisions |
2812.240 |
358.540 |
283.040 |
|
Total Non-current
Liabilities (3) |
6959.170 |
4382.430 |
4107.910 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
6796.820 |
6506.610 |
6624.860 |
|
(c) Other
current liabilities |
1157.780 |
788.670 |
601.600 |
|
(d) Short-term
provisions |
1406.370 |
1008.660 |
1113.120 |
|
Total Current
Liabilities (4) |
9360.970 |
8303.940 |
8339.580 |
|
|
|
|
|
|
TOTAL |
32143.510 |
30603.310 |
28458.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7728.930 |
5720.740 |
4951.330 |
|
(ii)
Intangible Assets |
24.350 |
16.450 |
18.030 |
|
(iii)
Capital work-in-progress |
958.220 |
1157.980 |
529.130 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1900.000 |
400.000 |
20.000 |
|
(c) Deferred tax assets (net) |
975.400 |
102.950 |
0.000 |
|
(d) Long-term Loan and Advances |
2564.200 |
4746.670 |
409.260 |
|
(e) Other
Non-current assets |
671.140 |
343.850 |
460.170 |
|
Total Non-Current
Assets |
14822.240 |
12488.640 |
6387.920 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4543.450 |
4523.440 |
7313.010 |
|
(c) Trade
receivables |
5325.470 |
7861.800 |
7327.890 |
|
(d) Cash
and cash equivalents |
2273.860 |
4668.710 |
3952.520 |
|
(e)
Short-term loans and advances |
4662.130 |
692.460 |
3230.390 |
|
(f) Other
current assets |
516.360 |
368.260 |
246.370 |
|
Total
Current Assets |
17321.270 |
18114.670 |
22070.180 |
|
|
|
|
|
|
TOTAL |
32143.510 |
30603.310 |
28458.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
53316.000 |
42132.000 |
39878.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
48407.000 |
38380.000 |
35392.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4909.000 |
3752.000 |
4486.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
232.000 |
298.000 |
18.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4677.000 |
3454.000 |
4468.000 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
923.000 |
749.000 |
648.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3754.000 |
2705.000 |
3820.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1112.000 |
653.000 |
1132.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2642.000 |
2052.000 |
2688.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) FROM DISCONTINUING OPERATIONS |
(280.000) |
(146.000) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9005.000 |
7098.000 |
4410.000 |
|
|
|
|
|
|
|
|
|
APPROPRIATED FOR
SHARE BUY BACK |
(3577.000) |
0.000 |
0.000 |
||
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7790.000 |
9005.000 |
7098.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
9.49 |
7.37 |
9.65 |
|
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 |
7899.610 |
3751.270 |
1243.010 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.96 |
4.87 |
6.74 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.04 |
6.42 |
9.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.26 |
9.35 |
13.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.15 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.25 |
0.21 |
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
2.18 |
2.65 |
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 |
3448.570 |
3448.570 |
2783.570 |
|
Reserves & Surplus |
12562.040 |
14468.370 |
13039.800 |
|
Net
worth |
16010.610 |
17916.940 |
15823.370 |
|
|
|
|
|
|
long-term borrowings |
3559.150 |
3799.950 |
3900.980 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
3559.150 |
3799.950 |
3900.980 |
|
Debt/Equity
ratio |
0.222 |
0.212 |
0.247 |
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) |
|
Total Income |
39878.000 |
42132.000 |
53316.000 |
|
|
|
5.652 |
26.545 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
39878.000 |
42132.000 |
53316.000 |
|
Profit |
2688.000 |
2052.000 |
2642.000 |
|
|
6.74% |
4.87% |
4.96% |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
BENCH:-BOMBAY |
|||
|
Presentation Date:- |
21/08/2015 |
||
|
|
|
|
|
|
Lodging No.:- |
ITXAL/1242/2015 |
Filing Date:- |
21/08/2015 |
|
|
|
|
|
|
District:- |
PUNE |
|
|
|
Bench:- |
DIVISION |
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Last Date:- |
28/08/2015 |
Stage:- |
|
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
||
|
|
|
|
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|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
OPERATIONS
Total domestic
tractor industry sale was 634,153 numbers against 527,441 numbers of last
financial year. The company recorded total sales of 51,035 numbers of tractors
against 46,930 numbers of tractors sold during the previous year. In the
domestic market, the company recorded a sale of 37,508 units against 29,801
units sold during the last Financial Year recording an increase of 25.9%.
Domestic market share of the company was 5.9% in the current Financial Year
compared to 5.7% during the previous Financial Year. The new Tractor factory in
Dewas, Madhya Pradesh has started commercial production during the current
financial year.
The Company
recorded total sales of 104 numbers of grain harvester against 41 numbers of
grain harvester sold during the previous year from its Sirhind Combine
manufacturing facility.
During the year
the Company continued its progress in providing IT and IT enabled services. The
business has created substantial value to the parent company and is also the
Net Positive Foreign Exchange earner in the year. The Product Engineering
Centre (PEC) continued to provide Engineering Support. Your Company continued
to provide the best-in-class quality products and innovative services to
farmers, such as agricultural equipment, micro irrigation, after-sales service and
installation, advisory services. Deere & Co has reached to a definitive
agreement to sell its Water business worldwide which shall also include India
water operations. The closing of the transaction is expected by end of May
2014.
UNSECURED LOAN
|
Unsecured Loan |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loan From Other |
3900.980 |
3799.950 |
|
TOTAL
|
3900.980 |
3799.950 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS
Tangible
Assets
·
Furniture and
Fixtures
·
Office Equipment
·
Computers
·
Building
·
Leasehold
Improvements
·
Motor Cars
·
Plant and Machinery
Intangible
Assets
·
Software and
Licenses
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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.66.62 |
|
UK Pound |
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
72 |
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.