MIRA INFORM REPORT
|
Report No. : |
355892 |
|
Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTEL TECHNOLOGY INDIA PRIVATE LIMITED |
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|
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Registered
Office : |
#23-56P, Deverabeesanahalli, Varthur Hobli, Bellandur Post, Outer Ring
Road, Bangalore – 560103, Karnataka |
|
Tel. No.: |
91-80-26053000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.01.1997 |
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Com. Reg. No.: |
08-021606 |
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Capital
Investment / Paid-up Capital : |
Rs.61.611 Million |
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CIN No.: [Company Identification
No.] |
U85110KA1997PTC021606 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction & Collection
Account No.] |
BLRI00675D |
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PAN No.: [Permanent Account No.] |
AAACI5394J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
primarily renders Hardware design support services, Software services,
Information technology enabled support services (erstwhile known as software
development and support services and consulting services) and Marketing
support services to Intel Group Companies worldwide. (Registered Activity) |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (86) |
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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 |
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Maximum Credit Limit : |
USD 27250000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a step down subsidiary of ‘Intel Corporation’. Intel is an American multinational technology company and one of the world largest and highest valued semiconductor chip maker. Intel makes motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing. Intel ranked 8th amongst world leading information technologies companies and it also ranked 182 in fortune 500 company with brand name value of USD 25,011 Million and enterprise value of USD 157,628 Million. For the financial year ended 2014, Intel Technology India has reported growth of 7% in total revenue of Rs.21950.000 Million as against Rs.20535.000 Million and net profit of company has registered a marginal growth of 4.68% as compared to that of previous year net profit. The Company possesses strong financial profile marked by its strong operating efficiencies along with adequate net worth base and strong debt coverage indicators. Furthermore, rating also takes into account of company’s diversified product portfolio backed by its global footprints in information technology sector and decent brand recognition among the customer worldwide. Trade relations are reported as trustworthy. Payments are reported to be regular and as per commitments. In view of aforesaid, the Company can be regarded as promising business partner for medium to long term business dealings at regular trade terms and conditions. Note: Management of the company has not filed its financial with government department for the year 2015 and same are not 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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
MANAGEMENT NON-COOPERATIVE (Tel. No.91-80-26055252)
LOCATIONS
|
Registered Office : |
#23-56P, Deverabeesanahalli, Varthur Hobli, Bellandur Post, Outer Ring
Road, Bangalore – 560103, Karnataka, India |
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Tel. No.: |
91-80-26053000 |
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Fax No.: |
91-80-26056190 |
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E-Mail : |
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Branch Office 1 : |
Campus 48, ECO Space 1, Outer Ring Road, Bellandur, Bangalore-560103,
Karnataka, India |
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Branch Office: |
Also Located at: ·
Mumbai ·
New Delhi ·
Chennai ·
Chandigarh ·
Kolkata |
DIRECTORS
AS ON 31.03.2015
|
Name : |
M. Vaibhav Vaman Natu |
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Designation : |
Director |
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Address : |
No 390, Adarsh Palm, Retreat Outer Ring Road, Devarabesanahalli, Bangalore - 560103, Karnataka, India |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
06396627 |
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Other Directorship:
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Name : |
Mr. Gary Kershaw |
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Designation : |
Director |
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Address : |
280, Powers Dr, El Dorado Hills, California - 95762, United States of America |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
07267114 |
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Other Directorship:
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Name : |
Ms. Tiffany Doon Silva |
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Designation : |
Director |
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Address : |
439, Midway Ave, San Mateo, California - 944021129, United States of America |
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Date of Birth/Age : |
24.08.1966 |
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Date of Appointment : |
11.12.2002 |
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DIN No.: |
01203087 |
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Other Directorship:
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Name : |
Mr. Ronald Dean Dickel |
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Designation : |
Director |
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Address : |
95, Church ST Apartment 2206, Los Gatos, California - 95030, United States of America |
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Date of Birth/Age : |
08.07.1960 |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
03212903 |
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Other Directorship:
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Name : |
Ms. Kumud Madhok Srinivasan |
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Designation : |
Director |
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Address : |
211-214,1st Floor, Ranka Park, 4, 5, 6, Lalbagh Road, Bangalore - 560027, Karnataka, India |
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Date of Birth/Age : |
07.02.1960 |
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Qualification : |
MS |
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Experience : |
29 Years |
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Date of Appointment : |
27.09.2013 |
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DIN No.: |
06487248 |
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Other Directorship:
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Name : |
Mr. Jitendra Chaddah |
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Designation : |
Additional Director |
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Address : |
No. 79/16, Sunny Brooks Layout, Sarjapur Road, Doddakanahalli, Bangalore - 560035, Karnataka, India |
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Date of Appointment : |
30.10.2015 |
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DIN No.: |
07310512 |
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KEY EXECUTIVES
|
Name : |
Mr. Sridhar H N |
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Designation : |
Secretary |
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Address : |
No F 16, Fortuna Icon, F Block, Sahakaranagar, Bangalore - 560092, Karnataka, India |
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Date of Appointment : |
21.12.2010 |
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PAN No.: |
ALIPM7399H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Intel Services, LLC, USA |
|
6161050 |
|
Intel Technology Finance Limited, Cayman |
|
2 |
|
Total |
|
6161052 |
AS ON 30.09.2014
|
Equity Share Break-up (Percentage of Total Equity) |
Percentage of
holding |
|
Category |
|
|
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
primarily renders Hardware design support services, Software services,
Information technology enabled support services (erstwhile known as software
development and support services and consulting services) and Marketing
support services to Intel Group Companies worldwide. (Registered Activity) |
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|
Products/ Services : |
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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
|
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 : |
S.R. Batliboi and Associates LLP Chartered Accountants |
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Address : |
12th and 13th floor, UB City, Canberra Block, No 24, Vittal Mallya Road, Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-40275000 |
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Fax No.: |
91-80-22106000 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABSFS4151K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Ultimate Holding
Company (As on 31.03.2014) : |
Intel Corporation, USA |
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Holding Company (As
on 31.03.2014) : |
Intel Services, LLC, USA |
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|
|
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Fellow Subsidiaries
(As on 31.03.2014) : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6161100 |
Equity Shares |
Rs.10/- each |
Rs.61.611 Million |
|
92870589 |
Preference Shares |
Rs.10/- each |
Rs.928.706 Million |
|
138311 |
Unclassified Shares |
Rs.10/- each |
Rs.1.383 Million |
|
|
Total
|
|
Rs.991.700
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6161052 |
Equity Shares |
Rs.10/- each |
Rs.61.611
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 |
61.611 |
61.611 |
61.600 |
|
(b) Reserves & Surplus |
9476.000 |
7824.000 |
6246.100 |
|
(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) |
9537.611 |
7885.611 |
6307.700 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Foreign currency monetary item translation difference liability account |
0.389 |
0.389 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
429.000 |
399.000 |
190.400 |
|
Total
Non-current Liabilities (3) |
429.389 |
399.389 |
190.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
3874.000 |
1214.700 |
|
(b) Trade payables |
1797.000 |
2318.000 |
1867.900 |
|
(c) Other current liabilities |
925.000 |
1847.000 |
1325.300 |
|
(d) Short-term provisions |
88.000 |
149.000 |
95.600 |
|
Total
Current Liabilities (4) |
2810.000 |
8188.000 |
4503.500 |
|
|
|
|
|
|
TOTAL |
12777.000 |
16473.000 |
11001.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4771.000 |
4562.000 |
3564.900 |
|
(ii) Intangible Assets |
55.000 |
35.000 |
20.600 |
|
(iii) Capital work-in-progress |
687.000 |
77.000 |
0.000 |
|
(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) |
229.000 |
241.000 |
246.700 |
|
(d) Long-term Loan and Advances |
5330.000 |
4115.000 |
3040.600 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
11072.000 |
9030.000 |
6872.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
520.000 |
875.000 |
392.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
698.000 |
960.000 |
942.100 |
|
(d) Cash and cash equivalents |
88.000 |
3731.000 |
1335.200 |
|
(e) Short-term loans and
advances |
201.000 |
288.000 |
374.100 |
|
(f) Other current assets |
198.000 |
1589.000 |
1085.400 |
|
Total
Current Assets |
1705.000 |
7443.000 |
4128.800 |
|
|
|
|
|
|
TOTAL |
12777.000 |
16473.000 |
11001.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
21744.000 |
20348.000 |
17862.700 |
|
|
Other Income |
206.000 |
187.000 |
112.200 |
|
|
TOTAL
|
21950.000 |
20535.000 |
17974.900 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
19502.000 |
18193.000 |
16224.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2448.000 |
2342.000 |
1750.800 |
|
|
|
|
|
|
|
Less |
TAX |
796.000 |
764.000 |
526.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1652.000 |
1578.000 |
1223.900 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Hardware design support services |
13156.000 |
12135.000 |
10434.200 |
|
|
Software services |
7487.000 |
7046.000 |
6093.900 |
|
|
Information technology enabled
support services |
274.000 |
317.000 |
369.100 |
|
|
Marketing support services |
827.000 |
850.000 |
965.600 |
|
|
Sale of fixed assets |
2.000 |
30.000 |
87.000 |
|
|
TOTAL
EARNINGS |
21746.000 |
20378.000 |
17949.800 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
1066.000 |
1783.000 |
1031.600 |
|
|
Consumables |
73.000 |
10.000 |
13.600 |
|
|
TOTAL
IMPORTS |
1139.000 |
1793.000 |
1045.200 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
268.14 |
256.13 |
198.65 |
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 |
2753.000 |
3266.000 |
3629.100 |
|
Net cash flow from operating activity |
1473.000 |
2220.000 |
2555.200 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.60 |
7.76 |
6.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.64 |
14.50 |
16.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.30 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.49 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.61 |
0.91 |
0.92 |
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 |
61.600 |
61.611 |
61.611 |
|
Reserves & Surplus |
6246.100 |
7824.000 |
9476.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6307.700 |
7885.611 |
9537.611 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1214.700 |
3874.000 |
0.000 |
|
Total
borrowings |
1214.700 |
3874.000 |
0.000 |
|
Debt/Equity
ratio |
0.193 |
0.491 |
0.000 |
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 |
17862.700 |
20348.000 |
21744.000 |
|
|
|
13.913 |
6.861 |
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 |
17862.700 |
20348.000 |
21744.000 |
|
Profit |
1223.900 |
1578.000 |
1652.000 |
|
|
6.85% |
7.76% |
7.60% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
NOTE:
The Registered office of the company has been shifted from 23-56P, Deverabeesanahalli, Varthur Hobli, Outer Ring Road, Bangalore – 560037, Karnataka, India to the present address w.e.f. 17.03.2009
BACKGROUND (AS ON
31.03.2014)
The Company was incorporated on January 3, 1997 and is a subsidiary of Intel Services LLC, USA (Holding Company).
The Company primarily renders Hardware design support services, Software services, Information technology enabled support services (erstwhile known as software development and support services and consulting services) and Marketing support services to Intel Group Companies worldwide.
BUSINESS SEGMENT (AS
ON 31.03.2014)
The Companys Operations are organised and managed into four primary business Segments, viz, Hardware Design Support Services (HDS), Software Services (SS), Information Technology Enabled Support Services (ITES) and Marketing Support Services (MSS) [erstwhile known as India Development Centre, Consulting services and Sales and Marketing group]. The HDS and SS segment renders hardware design support services and software development and support services respectively for the captive use of Intel group companies. The ITES Segment provides support in making and managing Intels strategic investments, acquisitions and divestments and cash management for Intel group companies. The MSS segment provides Sales & Marketing support for Intel products.
OPERATIONS AND
HIGHLIGHTS (AS ON 31.03.2014)
During the year, the Company earned revenue INR Rs.21950.000 million as against previous years revenue of INR Rs.20535.000 million and a profit after tax of INR Rs.1652.000 million as against previous years profit of Rs.1578.000 million.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short Term
Borrowings |
|
|
|
Working Capital loans from banks |
0.000 |
3874.000 |
|
Total |
0.000 |
3874.000 |
Note:
Foreign currency loan carries interest @ LIBOR plus 0.4% to 0.5%. The loan is repayable after 3 to 6 months from the date of its origination. The loan has been obtained for the purpose of meeting working capital requirements.
INDEX
OF CHARGES
No Charges Exist for Company
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Claims against the Company not acknowledged as debts |
|
|
|
Service tax matters (demands / show cause notices) |
1071.000 |
778.000 |
|
VAT / CST matters |
25.000 |
25.000 |
|
8Custom duty matters |
8.000 |
8.000 |
|
Withholding tax dispute |
10.000 |
10.000 |
|
Other matters |
159.000 |
159.000 |
|
Estimated amounts of contracts remaining to be executed on capital account and not provided for, net of advances |
515.000 |
319.000 |
|
Bank guarantees (furnished against income tax and sales tax matters in dispute) |
2453.000 |
1913.000 |
Note:
The Company has received assessment orders for the financial years ended March 31, 2006 to March 31, 2010, wherein certain adjustments in respect of transfer pricing under Section 92CA of the Income Tax Act, 1961 and other disallowances have been made to the taxable income and demand orders aggregating to Rs. 3504.000 million has been raised on the Company as at March 31, 2014. The above demands are disputed by the management and the Company has filed appeals against the aforesaid orders with appellate authorities. The management is of the view that the prices determined by it are at arms length and is confident that the demands raised by the assessing officer are not tenable under law. Pending outcome of aforesaid matters under litigation, no provision has been made in the books of accounts in this regard for the financial year ended March 31, 2006 to March 31, 2010 and the consequential impact, if any for the subsequent years.
The Company has accounted for input service tax receivable of Rs.2917.000 million as at March 31, 2014. However, for certain periods, the refund claims filed by the Company have been rejected and are pending under dispute before appellate authorities. The Management, based on advice received from its tax consultant is confident of receiving the refund and accordingly no provision has been made in this regard in the accounts.
FIXED ASSETS
·
· Building
· Leasehold Improvement
· Plant and Machinery
· Computers
· Furniture and Fittings
· Vehicles
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 records 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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
86 |
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.