MIRA INFORM REPORT
|
Report No. : |
354659 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
RACOLD THERMO PRIVATE LIMITED (w.e.f. 10.06.2011) |
|
|
|
|
Formerly Known
As : |
ARISTON THERMO INDIA LIMITED (w.e.f. 19.02.2009) MERLONI THERMOSANITARI SSP LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 265/374/376, Kharabwadi, Chakan-Talegaon Road, Taluka – Khed,
Chakan, Pune – 410501, Maharashtra |
|
Tel. No.: |
91-2135-674700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
11.11.2004 |
|
|
|
|
Com. Reg. No.: |
11-019938 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.262.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PN2004PTC019938 |
|
|
|
|
IEC No.: |
3104011419 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM09177A/ PNEM00797G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM0766G/ AABCM8423H |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, trading, exporter and importer of Water-Heating
Equipments. [Confirmed
by management] |
|
|
|
|
No. of Employees
: |
448 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject company operates as a subsidiary of “Ariston Thermo Group SpA” Italy. It is engaged into manufacturing, trading, exporter and importer of Water-Heating Equipment’s. The rating reflect company's established market position in the domestic market, healthy operating efficiency, and healthy financial risk profile along with strong capital structure, marked by low gearing, negligible debt and strong liquidity. Rating further reflects the support that it receives from its ultimate holding company, giving a financial, managerial, and technical know-how in its manufacturing facilities. This rating strength is partially offsets by the intense competition from its well established brand in the market, volatility in raw material prices and seasonality nature of business. However, trade relations are fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for business dealings at usual trade terms and conditions. Note: As claimed by Ms. Radhika Kulkarni (Company Secretary) that the subject company got converted into Private Limited on 16th September, 2015. |
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 |
CARE |
|
Rating |
Solar Energy Grading SP 1A |
|
Rating Explanation |
Have highest performance capability and high
financial strength |
|
Date |
-- |
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 : |
Ms. Radhika Kulkarni |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-2135-674700 |
|
Date : |
11.12.2015 |
LOCATIONS
|
Registered Office : |
Gat No. 265/374/376, Kharabwadi, Chakan-Talegaon Road, Taluka – Khed,
Chakan, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-674700/253027 |
|
Fax No.: |
91-235-254025/252966 |
|
E-Mail : |
|
|
Website : |
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|
Location: |
Owned |
|
|
|
|
Factory : |
264, Kharabwadi, Chakan, Khed, Pune – 410501, Maharashtra, India |
|
|
|
|
Regional Office : |
C 42 Okhla Industrial Area Phase II, New Delhi- 110020, Delhi, India |
|
|
|
|
Branch Office : |
Located at: ·
New Delhi ·
Kolkata ·
Mumbai ·
Bengaluru ·
Chennai ·
Pune ·
Chandigarh ·
Hyderabad |
DIRECTORS
AS ON 30.04.2014
|
Name : |
Mr. Andreatini carlo |
|
Designation : |
Director |
|
Address : |
Patente n. AN2056620G (K3RLBS), lungom, senigallia-60019, Italy |
|
Date of Birth/Age : |
25.03.1965 |
|
Date of Appointment : |
09.04.2012 |
|
DIN No.: |
02660570 |
|
|
|
|
Name : |
Mr. Mathew Job |
|
Designation : |
Managing Director |
|
Address : |
E-102, Emerald Court II, Essel Tower, M G Road, Gurgaon – 122001
Haryana, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
03.02.2012 |
|
DIN No.: |
02922413 |
|
|
|
|
Name : |
Kaustubh Ramesh Roplekar |
|
Designation : |
Additional director |
|
Address : |
C- 4/4, Sukumar CHS., Dayaldas Road,, Vile Parle (E), Mumbai, 400057, Maharashtra, India |
|
Date of Appointment : |
22.09.2015 |
|
DIN No.: |
06812220 |
|
|
|
|
Name : |
Marcella Zacchei |
|
Designation : |
Additional director |
|
Address : |
Falconara Marittima, Ancona, 60015, Italy |
|
Date of Appointment : |
26.05.2015 |
|
DIN No.: |
06951926 |
|
|
|
|
Name : |
Antonio Picca Piccon |
|
Designation : |
Director |
|
Address : |
Via Valgioie n.71, Torino, 10146, Italy |
|
Date of Appointment : |
16.03.2015 |
|
DIN No.: |
07122483 |
|
|
|
|
Name : |
Paolo Cancellieri |
|
Designation : |
Director |
|
Address : |
Via Della Montagnola 97,, Ancona, 60127, Italy |
|
Date of Appointment : |
07.05.2012 |
|
DIN No.: |
05236130 |
KEY EXECUTIVES
|
Name : |
Kaustubh Ramesh Roplekar |
|
Designation : |
CFO |
|
Address : |
G-19, Konark Splendour Society, Matchwell Road, Wadgaon Sheri, Pune - 411014, Maharashtra, India |
|
Date of Appointment : |
05.08.2014 |
|
PAN No: |
AGWPR7233G |
|
|
|
|
Name : |
Radhika Rajendra Kulkarni |
|
Designation : |
Secretary |
|
Address : |
44/58, Nav Sahyadri Society, Karvenagar, Pune - 411052, Maharashtra, India |
|
Date of Appointment : |
03.08.2015 |
|
PAN No: |
CPFPK7376P |
MAJOR SHAREHOLDERS
AS ON 30.04.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ariston Thermo SPA, Italy |
|
5900954 |
|
Ariston Thermo International SRL, Italy |
|
20312508 |
|
Elico International GmbH |
|
1 |
|
Andreatini Carlo |
|
1 |
|
Ariston Thermo UK Limited, Italy |
|
3 |
|
Silvestro Luciani, Italy |
|
2 |
|
Sen Chandra Tejesh, India |
|
3 |
|
Job Mathew, India |
|
3 |
|
|
|
|
|
Total |
|
26213475 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.04.2014
|
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 |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, trading, exporter and importer of Water-Heating
Equipments. [Confirmed
by management] |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
448 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Muttha Towers,
5th Floor, Suite O. 8, Off. Airport Road, Yerwada, Pune - 411006,
Maharashtra, India |
|
PAN No.: |
AAFFP3698A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company : |
Ariston Thermo SpA |
|
|
|
|
Fellow Subsidiary
company : |
|
CAPITAL STRUCTURE
AS ON 30.04.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26213475 |
Equity Shares |
Rs.10/- each |
Rs. 262.100
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 |
262.100 |
262.135 |
262.135 |
|
(b) Reserves & Surplus |
930.800 |
860.200 |
704.200 |
|
(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) |
1192.900 |
1122.335 |
966.335 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
9.300 |
6.300 |
6.700 |
|
(c) Other long term
liabilities |
71.600 |
57.800 |
48.400 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
80.900 |
64.100 |
55.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
115.800 |
176.700 |
45.000 |
|
(b) Trade payables |
634.400 |
739.265 |
434.765 |
|
(c) Other
current liabilities |
77.100 |
66.300 |
58.100 |
|
(d) Short-term
provisions |
29.400 |
27.000 |
24.300 |
|
Total Current
Liabilities (4) |
856.700 |
1009.265 |
562.165 |
|
|
|
|
|
|
TOTAL |
2130.500 |
2195.700 |
1583.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
344.300 |
347.800 |
335.900 |
|
(ii)
Intangible Assets |
15.200 |
2.300 |
1.900 |
|
(iii) Capital
work-in-progress |
3.100 |
26.700 |
20.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
29.200 |
14.400 |
9.900 |
|
(c) Deferred tax assets (net) |
160.600 |
113.500 |
148.700 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
1.300 |
0.100 |
0.000 |
|
Total Non-Current
Assets |
553.700 |
504.800 |
517.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
418.300 |
420.000 |
372.600 |
|
(c) Trade
receivables |
1042.800 |
1128.400 |
523.100 |
|
(d) Cash
and cash equivalents |
88.000 |
121.600 |
133.200 |
|
(e)
Short-term loans and advances |
27.700 |
20.900 |
37.500 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1576.800 |
1690.900 |
1066.400 |
|
|
|
|
|
|
TOTAL |
2130.500 |
2195.700 |
1583.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2841.500 |
3012.900 |
2458.900 |
|
|
Other Income |
36.900 |
3.000 |
5.400 |
|
|
TOTAL |
2878.400 |
3015.900 |
2464.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1359.100 |
1456.500 |
1221.800 |
|
|
Purchases of Stock-in-Trade |
324.800 |
293.600 |
279.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(37.100) |
11.200 |
(65.700) |
|
|
Employees benefits expense |
353.800 |
281.700 |
226.300 |
|
|
Other expenses |
675.800 |
669.700 |
534.400 |
|
|
TOTAL |
2676.400 |
2712.700 |
2196.400 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
202.000 |
303.200 |
267.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
28.700 |
12.900 |
8.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
173.300 |
290.300 |
259.900 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
63.900 |
54.600 |
47.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
109.400 |
235.700 |
212.200 |
|
|
|
|
|
|
|
Less |
TAX |
38.800 |
79.700 |
69.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
70.600 |
156.000 |
142.300 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
101.400 |
102.400 |
102.000 |
|
|
TOTAL EARNINGS |
101.400 |
102.400 |
102.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
360.300 |
399.100 |
364.800 |
|
|
Stores & Spares |
0.100 |
1.100 |
0.900 |
|
|
Capital Goods |
30.000 |
6.200 |
47.500 |
|
|
TOTAL IMPORTS |
390.400 |
406.400 |
413.200 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.69 |
5.95 |
5.43 |
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 |
166.400 |
(21.000) |
65.500 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.48 |
5.18 |
5.79 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.11 |
10.06 |
10.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.65 |
11.55 |
15.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.21 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.16 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84 |
1.68 |
1.90 |
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 |
262.135 |
262.135 |
262.100 |
|
Reserves & Surplus |
704.200 |
860.200 |
930.800 |
|
Net
worth |
966.335 |
1122.335 |
1192.900 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
45.000 |
176.700 |
115.800 |
|
Total
borrowings |
45.000 |
176.700 |
115.800 |
|
Debt/Equity
ratio |
0.047 |
0.157 |
0.097 |
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 |
2458.900 |
3012.900 |
2841.500 |
|
|
|
22.530 |
(5.689) |
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 |
2458.900 |
3012.900 |
2841.500 |
|
Profit |
142.300 |
156.000 |
70.600 |
|
|
5.79% |
5.18% |
2.48% |
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 |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10529243 |
24/09/2014 |
608,570.00 |
The Hongkong and
Shanghai Banking Corporation Limi |
52/60 MAhatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, INDIA |
C32249203 |
|
2 |
90091242 |
13/04/2000 |
43,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PIMPRI, PUNE, Maharashtra - 411034, INDIA |
- |
|
3 |
90084444 |
11/04/1996 |
2,500,000.00 |
BANK OF MAHARASHTRA |
PIMPRI, PUNE, Maharashtra - 411018, INDIA |
- |
|
4 |
90087962 |
11/04/1996 |
3,000,000.00 |
BANK OF MAHARASHTRA |
PIMPRI, PUNE, Maharashtra - 411018, INDIA |
- |
|
5 |
90084293 |
10/03/1997 * |
1,500,000.00 |
BANK OF MAHARASHTRA |
PIMPRI, PUNE, Maharashtra - 411018, INDIA |
- |
|
6 |
90084181 |
10/02/1996 * |
500,000.00 |
CANARA BANK |
PARLIAMENT STREET,
NEW DELHI, Delhi - 110001, INDI |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
PRESS RELEASE
RACOLD THERMO PLANS TO DOUBLE REVENUE IN
THREE YEARS
Pune-based Racold Thermo Limited, a wholly owned subsidiary of Italy-based Ariston Thermo Group, on Thursday announced that it is planning to double the business from the Rs 250 crore posted last year, in next three years. The company, which is into manufacturing water heaters, is also planning capacity expansion by 2014, added company officials.
Announcing launch of four water heater products with new technologies in Chennai, Mathew Job, MD of Racold Thermo said, "The total water heater market in India is around Rs 12000.0000 Million and growing at around 10-12 per cent. We have a marketshare of 25 per cent with presence across the three product segments, electric, solar and gas powered water heaters. We expect with doubling the business our market share in India would go up over 30 per cent."
The company's manufacturing facility in Chakan, Maharashtra, currently has a capacity to produce 5 lakh water heaters a year. The capacity utilisation is around 75-80 per cent at present.
It is also planning to increase its reach across the market and introduce new technologies to grab the marketshare.
The utilisation of the existing capacity is expected to go up in next two years and it would look at capacity expansion in 2014, said Job.
The company is yet to finalise the various options and details of capacity expansion.
The Rs 12000.000 Million water heater market consists of Rs 6000.000 Million electric water heater, around Rs 5000.000 Million of solar water heater and around Rs 1000.000 Million of gas powered water heaters, in the country. Racold, which is present in all the three segments, expects the Solar powered water heater market to grow in higher rates, at around 15 per cent.
The company has around 4,000 dealers and around 150 odd service centres at present and plans are the increase this in next two years.
Racold Thermo on Thursday launched products with new technologies, including technology to prevent corrosion of the metal due to contact with hard water and a heating efficient varient.
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 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. 66.79 |
|
UK Pound |
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 73.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
52 |
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.