MIRA INFORM REPORT
|
Report No. : |
353050 |
|
Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
TEREX INDIA PRIVATE LIMITED DEMAG CRANES AND COMPONENTS PRIVATE LIMITED (AMALGAMATED WITH TEREX INDIA PRIVATE LIMITED) |
|
|
|
|
Registered
Office : |
Plot No. E-18, Phase-II, Expansion-II, SIPCOT Industrial Complex, Hosur- 635109, Tamilnadu |
|
Tel. No.: |
91-4344-302200 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.04.2007 |
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Com. Reg. No.: |
18-020724 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 2147.715 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101TZ2007FTC020724 |
|
|
|
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IEC No.: |
0508058724 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AACCT6500D |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture, market, sell, repair, design,
design out-sourcing and provide services for a broad range of equipment and machinery
for a variety of industries, including the construction, mining, materials
processing, material handling, work platform, industrial, agricultural
business, infrastructure, quarrying, surface mining, shipping,
transportation, refining, utility and market sectors. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is subsidiary of “TEREX CORPORATION” UNITED STATES. It is established company having satisfactory track record. The rating is constrained on company’s declining total income in FY-14 marked by continuous losses from its operations over the past two years. Ratings further get constrained on its unfavourable gap between trade payables to its receivables. However, rating takes consideration on company’s strong managerial, technical and financial support received from its holding company. It further takes into account on company strong capital structure, timely equity infusion by its holding company along with above average debt protection metrics. Trade relations seem to be fair. Business is active. Payment terms are slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note:- As claimed by Mr. Milind Naik (AGM Finance), Demag Cranes and Components (India) Private Limited has been amalgamated with the Terex India Private Limited Dated on 30th October 2015. Further he denied providing proof document related documents of amalgamation.
As per registrar of companies the date of balance sheet (i.e. financial filed) is show as 31.03.2015 but the documents related to the financials are not been available from any sources. |
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 DENIED BY
|
Name : |
Mr. Milind Naik |
|
Designation : |
Assistant General Manager Finance |
|
Contact No.: |
91-2135-614200 |
|
Date : |
07.12.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. E-18, Phase-II, Expansion-II, SIPCOT Industrial Complex, Hosur- 635109, Tamilnadu, India |
|
Tel. No.: |
91-4344-302200 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
5th Floor, West Wing, E. City Tower 2 # 94/2 and 95/2, Electronic City Phase 1 Bangalore – 560 100, Karnataka, India |
|
Tel. No.: |
91-80-33151000 |
|
Fax No.: |
91-80-33151001 |
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|
|
|
Factory 2 : |
Plot No 22, Udyog Vihar, Greater Noida, P. O. Surajpur Pradesh - 201306, Uttar, India |
|
Tel. No.: |
91-120-4194100 / 2560830 |
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Fax No.: |
91-120-2560541 |
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|
|
|
Factory 3 |
Gat No:-330,332,333,334, Nanekarwadi (Chakan) Talauka–Khed, District–Pune-410501 Maharashtra, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Brian Jerome Henry |
|
Designation : |
Director |
|
Address : |
500, Old Academy Road,, Fairfield,, CT, 06824, United States of America |
|
Date of Appointment : |
11.04.2007 |
|
DIN No.: |
00835028 |
|
|
|
|
Name : |
Mr. Eric Cohen I |
|
Designation : |
Director |
|
Address : |
32-Burn Ham Hill Road, Westport, Ct06880, United States of America |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
02171716 |
|
|
|
|
Name : |
Srikanth Ekambaram |
|
Designation : |
Director |
|
Address : |
B-102, Sterling Park Kodigehalli,, Main Road Kodigehalli,, Bangalore-560092, Karnataka, India |
|
Date of Appointment : |
23.09.2011 |
|
DIN No.: |
03607330 |
|
|
|
|
Name : |
Jaideep Shekhar |
|
Designation : |
Director |
|
Address : |
C-508, New Arohi Apartments, Plot No-13, Sector-12, Dwarka, New Delhi-110075, Delhi, India |
|
Date of Appointment : |
14.02.2012 |
|
DIN No.: |
05218221 |
|
|
|
|
Name : |
George Wayne Ellis |
|
Designation : |
Director |
|
Address : |
1460, Fairfield Beach Road, Fairfield Connecticut, 06824, United States of America |
|
Date of Appointment : |
22.02.2013 |
|
DIN No.: |
06508072 |
KEY EXECUTIVES
|
Name : |
Mr. Milind Naik |
|
Designation : |
Assistant General Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Terex Corporation, United State of America |
74243669 |
34.57 |
|
Terex Asia, Mauritius |
140527849 |
65.43 |
|
Total |
214771518 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 31.03.2015
|
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 : |
Manufacture, market, sell, repair, design,
design out-sourcing and provide services for a broad range of equipment and
machinery for a variety of industries, including the construction, mining,
materials processing, material handling, work platform, industrial,
agricultural business, infrastructure, quarrying, surface mining, shipping,
transportation, refining, utility and market sectors. (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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Facilities : |
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Financial Institution : |
Kotak Mahindra Prime Limited, 27BKC, C 27, G Block, Bandra
Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra, India |
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building No. 8, Tower B, 8th Floor, DLF Cyber City, Gurgaon-122002, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Ultimate Holding company |
Terex Corporation, United States of America |
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Fellow Subsidiary Companies : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Rs. 4312.000 Million
Issued, Subscribed & Paid-up Capital : Rs.2147.715
Million
As on 31.03.2015
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 |
|
|
|
|
|
|
214,771,518 |
Equity Shares |
Rs.10/- each |
Rs. 2147.715
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 |
2147.715 |
1873.665 |
1873.665 |
|
(b) Reserves & Surplus |
(1089.453) |
(963.813) |
(799.180) |
|
(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) |
1058.262 |
909.852 |
1074.485 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
153.606 |
390.469 |
362.663 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
69.246 |
49.287 |
32.000 |
|
(d) long-term
provisions |
21.126 |
19.200 |
11.883 |
|
Total Non-current
Liabilities (3) |
243.978 |
458.956 |
406.546 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
263.775 |
401.257 |
246.639 |
|
(b) Trade
payables |
1136.048 |
1093.247 |
856.545 |
|
(c) Other
current liabilities |
41.839 |
58.548 |
43.100 |
|
(d) Short-term
provisions |
31.366 |
44.193 |
43.994 |
|
Total Current
Liabilities (4) |
1473.028 |
1597.245 |
1190.278 |
|
|
|
|
|
|
TOTAL |
2775.268 |
2966.053 |
2671.309 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
848.398 |
931.307 |
936.204 |
|
(ii)
Intangible Assets |
27.204 |
13.904 |
5.172 |
|
(iii)
Capital work-in-progress |
0.000 |
0.202 |
37.034 |
|
(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 |
48.953 |
43.659 |
42.412 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
924.555 |
989.072 |
1020.822 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
981.327 |
932.238 |
784.011 |
|
(c) Trade
receivables |
550.387 |
748.407 |
518.317 |
|
(d) Cash
and cash equivalents |
93.695 |
47.242 |
21.566 |
|
(e) Short-term
loans and advances |
213.881 |
223.451 |
257.091 |
|
(f) Other
current assets |
11.423 |
25.643 |
69.502 |
|
Total
Current Assets |
1850.713 |
1976.981 |
1650.487 |
|
|
|
|
|
|
TOTAL |
2775.268 |
2966.053 |
2671.309 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2192.000 |
2326.000 |
1995.000 |
|
|
|
Other Income |
79.000 |
30.000 |
0.000 |
|
|
|
TOTAL (A) |
2271.000 |
2356.000 |
1995.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2180.000 |
2310.000 |
2028.000 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
91.000 |
46.000 |
(33.000) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
100.000 |
91.000 |
50.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(9.000) |
(45.000) |
(83.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
117.000 |
120.000 |
126.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(126.000) |
(165.000) |
(209.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(126.000) |
(165.000) |
(209.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(964.000) |
(799.000) |
(590.000) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1090.000) |
(964.000) |
(799.000) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
(0.58) |
(0.88) |
NA |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.650 |
0.500 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
(125.639) |
(164.654) |
(209.447) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.75) |
(7.09) |
(10.48) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.15 |
1.98 |
(1.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.54) |
(5.56) |
(7.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12) |
(0.18) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39 |
0.87 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.24 |
1.39 |
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 |
1873.665 |
1873.665 |
2147.715 |
|
Reserves & Surplus |
-799.180 |
-963.813 |
-1089.453 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1074.485 |
909.852 |
1058.262 |
|
|
|
|
|
|
long-term borrowings |
362.663 |
390.469 |
153.606 |
|
Short term borrowings |
246.639 |
401.257 |
263.775 |
|
Total
borrowings |
609.302 |
791.726 |
417.381 |
|
Debt/Equity
ratio |
0.567 |
0.870 |
0.394 |
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 |
1995.000 |
2326.000 |
2192.000 |
|
|
|
16.591 |
(5.761) |
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 |
1995.000 |
2326.000 |
2192.000 |
|
Profit |
(209.000) |
(165.000) |
(126.000) |
|
|
(10.48%) |
(7.09%) |
(5.75%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
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 |
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 |
FINANCIAL RESULTS
The overall market for construction equipment shrunk by about 20%. The company made good to some extent the loss in the domestic market with some exports. The company took steps to localise Chambers during the year which has been completed in some of the models during the year and expect to complete the localisation on all models in the next year. We started manufacture of 125TPH capacity plants to increase our product portfolio. This product was taken over from Voltas during the year. The company was able to improve upon the Engineering support services to Terex companies across the world to 265000 hours up by 20% over previous year
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties (Repayable on September 30, 2019 with 4% interest per annuam) |
149.730 |
389.886 |
|
Loans and advances from related parties |
67.000 |
0.000 |
|
Total |
216.730 |
389.886 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10594000 |
06/08/2015 |
751,630.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C65501983 |
|
2 |
10593690 |
06/08/2015 |
1,004,817.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra
- 400051, INDIA |
C65505166 |
|
3 |
10594811 |
31/07/2015 |
463,621.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C65515702 |
|
4 |
10590406 |
24/06/2015 |
640,520.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C63506141 |
|
5 |
10590207 |
09/06/2015 |
753,338.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C63538722 |
|
6 |
10590407 |
29/05/2015 |
720,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra
- 400051, INDIA |
C63509566 |
|
7 |
10590210 |
20/04/2015 |
1,497,291.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C63507818 |
|
8 |
10590206 |
18/04/2015 |
653,919.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C63506612 |
|
9 |
10590397 |
18/04/2015 |
566,702.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C63508337 |
|
10 |
10583364 |
16/01/2015 |
686,426.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra
- 400051, INDIA |
C60475431 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Furniture And Fixtures
- Plant And Equipment
- Vehicle
- Office Equipment
- Vehicle
- Computer
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.66.74 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
42 |
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.