MIRA INFORM REPORT

 

 

Report No. :

355748

Report Date :

25.12.2015

 

IDENTIFICATION DETAILS

 

Name :

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Plot No. 3, Phase II, SIPCOT Industrial Park, Sriperumbunder Taluk, Sandavellure C Village, Kancheepuram District – 602 106, Tamilnadu

Tel. No.:

91-44-67105158 / 67105018

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.01.2001

 

 

Com. Reg. No.:

18-070708

 

 

Capital Investment / Paid-up Capital :

Rs. 1746.763 Million

 

 

CIN No.:

[Company Identification No.]

U31909TN2001PTC070708

 

 

IEC No.:

0500076375

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACF5248E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of printed circuit  boards and multiplexers (From Indirect Source)

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (62)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 10000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 2001and it is manufacturer of printed circuit boards and multiplexers.

 

For the financial year ended 2014, company possesses sound operational performance and it has maintain adequate profitability margin at 9.08% during the year under review.

 

Rating takes into consideration company’s established track record of business operations supported by its healthy financial profile along with adequate net worth base and sound debt coverage indicators.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitments.

 

The company can be considered good for normal business dealings at usual 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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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

 

Management non cooperative (Tel No:-91-44-67105158 / 67105018)

 

 

LOCATIONS

 

Registered Office :

Plot No. 3, Phase II, SIPCOT Industrial Park, Sriperumbunder Taluk, Sandavellure C Village, Kancheepuram – 602 106, Tamilnadu, India

Tel. No.:

91-44-67105158 / 67105018

Fax No.:

Not available

E-Mail :

sabuj.choudhury@flextronics.com

Website :

http://www.flextronics.com 

 

 

Factory 1 :

A-380, Defense Colony, New Delhi-110 024, India

 

 

Factory 2 :

28A, Electronic City, Hosur Road, Bangalore, Karnataka, India

 

 

Branch Office 1:

17, Subhash Marg, Daryaganj, New Delhi – 110 002, India

Tel. No.:

91-11-23272024/ 64

Fax No.:

91-11-23287371

 

 

Branch Office 2:

Finance Shared Services, Baan Company 125, AP812, Ispahani Centre, 123/124, Nungambakkam High Road, Chennai – 600 034, Tamilnadu, India

Tel. No.:

91-44-66251200/ 67105152

 

 

Branch Office 3:

AP828 RMZ Millennia Business Park, 7th Floor, Campus II, No. 143, Dr. MGR Road, Kandanchavadi, Chennai-600 096, Tamilnadu, India

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Ashok Dhawan

Designation :

Managing Director

Address :

43B, Raheja Park Plaza, Near Yari Road, Andheri (West), Mumbai-400061, Maharashtra, India

Date of Birth/Age :

10.11.1964

Qualification :

Diploma in Hotel Management and MBA Finance

Date of Appointment:

29.09.2008

DIN No.:

00798959

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U31909TN2001PTC070708

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

Managing director

29-09-08

15-11-07

-

Active

NO

2

U51505TN2007FTC065546

FlexPower India Private Limited

Director

23-09-13

08-01-13

-

Amalgamated

NO

 

 

Name :

Mr. Manny Al Marimuthu

Designation :

Director

Address :

No. 5, Lot 32, Persiaran Kudalari Country Heights, Kajang 43000, Selangor Darul Ehsan, Kuala Lumpur- 43000, Malaysia

Date of Birth/Age :

11.10.1961

Date of Appointment:

12.01.2001

DIN No.:

00867715

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U31909TN2001PTC070708

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

Director

12-01-01

12-01-01

-

Active

NO

2

U30006KA2006PTC040491

Solectron India Private Limited

Director

25-09-08

01-10-07

-

Amalgamated

NO

3

U85110KA1994PTC015357

FLEXTRONICS DESIGN Private LIMITED

Director

28-11-07

09-11-07

-

Amalgamated

NO

4

U72200KA2003PTC031806

FLEXTRONICS DESIGN CONSUMER ELECTRONICS (INDIA) PRIVATE LIMITED

Director

30-09-08

27-11-07

-

Amalgamated

NO

5

L32109KA2006PLC040641

Solectron EMS India Limited

Director

24-03-08

28-11-07

-

Amalgamated

NO

6

U51505TN2007FTC065546

FlexPower India Private Limited

Director

21-04-08

21-04-08

-

Amalgamated

NO

7

U72900KA2004PTC034404

COLDWATT INDIA PRIVATE LIMITED

Director

25-09-08

25-06-08

-

Amalgamated

NO

8

L85110KA1993PLC013869

CENTUM ELECTRONICS LIMITED

Director

28-09-10

09-08-10

16-08-12

Active

NO

 

 

Name :

Mr. Sekaran Letchumanan

Designation :

Director

Address :

55 Lorong Permai 5, Kota Permai, Bukit Mertajam, Pulau Pinang- 14000,  Malaysia

Date of Appointment:

30.09.2013

DIN No.:

02069716

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51505TN2007FTC065546

FlexPower India Private Limited

Director

23-09-13

21-04-08

-

Amalgamated

NO

2

U31909TN2001PTC070708

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

Director

30-09-13

05-06-08

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Sabuj Das Choudhury

Designation :

Secretary

Address :

Villa C4, Phase 2, Chettinad Enclave, S.Kolathur Road, Pallikaranai, Chennai- 600100, Tamil Nadu, India

PAN No.:

ARPPS3640C

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 19.12.2014

 

Equity Shareholders:

 

Names of Shareholders

No. of Equity Shares

Flextronics International Asia Pacific Limited, Mauritius

59837066

Flextronics Telecom Systems Limited, Mauritius

1401914

Flextronics Mauritius Limited, Mauritius

302558

Flextronics Logistics B.V., Netherland

4

Power Systems Technologies Limited, Mauritius

7466506

 

 

Total

69008049

 

Preferences Shareholder:

 

Names of Shareholders

No. of Preferences Shares

Flextronics International Asia Pacific Limited, Mauritius

105668199

 

 

Total

105668199

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 19.12.2014

 

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 :

Manufacturer of printed circuit  boards and multiplexers (From Indirect Source)

 

 

Products :

ITEM CODE NO. (ITC)

PRODUCT DESCRIPTION

853400

Printed Circuit Boards

851700

Multiplexers

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

Jain Christopher Srikanth and Srikanth

Chartered Accountants

Address :

II Floor, Uniworth Plaza, No. 20, Sankey Road, Bangalore-560020, Karnataka, India

E-Mail :

srikanths@jcssglobal.com

PAN N Income-tax PAN of auditor or auditor's firm :

AADFJ0586H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Flextronics International Asia-Pacific Limited

 

 

Associates:
  • Flextronics America LLC, United States
  • Flextronics International USA Inc., United States
  • Flextronics Power System Dongguan Company Limited, China
  • Flextronics Technology Penang SDN BHD,  Malaysia
  • Flextronics Technology Malaysia SDN BHD, Malaysia
  • Flextronics automotive Suzhou Company Limited, China
  • Flextronics G L O B A L Enclosures Shanghai Company Limited, China
  • Flextronics Industrial Limited, United States
  • Flextronics Internation Limited, Mauritius
  • Flextronics International Japan Company Limited, Japan
  • Flextronics international Euro, Netherlands
  • Flextronics International Gmbh, Austria
  • Flextronics International KFT, Germany
  • Flextronics International Latin America L Limited, Mexico
  • Flextronics International Management Services Limited, Mauritius
  • Flextronics International Poland SP ZOO, Poland
  • Flextronics International Tecnologia LTDA,  Brazil
  • Flextronics International USA Limited., United States
  • Flextronics Logistics Hong Kong Limited, Hong Kong
  • Flextronics Logistics Singapore PTE Limited, Singapore
  • Flextronics Logistics USA Inc., United States
  • Flextronics Manufacturing (H.K.) Limited, Hong Kong
  • Flextronics Manufacturing Europe BV, Netherlands
  • Flextronics Manufacturing Mex S A de C V, Mexico
  • Flextronics Manufacturing Singapore Pte Limited, Singapore
  • Flextroni c s Manufacturing Tianjin Company Limited, China
  • Flextronics Manufacturing Zhuhai Company Limited, China
  • Flextronics Marketing L Limited, Malaysia
  • Flextronics Power System Dongguan Company Limited, China
  • Flextronics Sales & Marketing AP Limited, Mauritius
  • Flextronics Shah Alam Sdn.Bhd. Malaysia
  • Flextronics Shah Alam (Malaysia) , Malaysia
  • Flextronics Shanghai Electronic Equipment Repair S, China
  • Flextronics Telecom Systems Limited, Mauritius
  • Power Systems R&D Singapore Pte Limited, Singapore
  • Power Systems Technologies F, China
  • Power Systems Technologies Limited, Mauritius

 

 

CAPITAL STRUCTURE

 

As on 19.12.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

151020000

Equity Shares

Rs.10/- each

Rs.1510.200 Million

115000000

Preferences Shares

Rs.10/- each

Rs.1150.000 Million

 

TOTAL

 

Rs.2660.200 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

69008049

Equity Shares

Rs.10/- each

Rs.690.080 Million

105668199

Preferences Shares

Rs.10/- each

Rs.1056.682 Million

 

TOTAL

 

Rs. 1746.762 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

1746.763

1,672.097

1,659.146

(b) Reserves & Surplus

1752.170

753.370

431.652

(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)

3498.933

2425.467

2090.798

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2.479

2.479

14.978

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

14.335

28.925

(d) long-term provisions

253.640

125.289

99.598

Total Non-current Liabilities (3)

256.119

142.103

143.501

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

3249.957

719.883

615.037

(c) Other current liabilities

271.300

234.215

288.517

(d) Short-term provisions

512.881

292.180

329.429

Total Current Liabilities (4)

4034.138

1246.278

1232.983

 

 

 

 

TOTAL

7789.190

3813.848

3467.282

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1549.924

1,218.543

1,263.966

(ii) Intangible Assets

25.776

10.926

14.892

(iii) Capital work-in-progress

91.071

0.703

6.584

(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)

373.443

0.000

0.000

(d)  Long-term Loan and Advances

121.713

82.628

63.806

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2161.927

1312.800

1349.248

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1777.956

305.232

361.823

(c) Trade receivables

2539.210

1,192.517

796.687

(d) Cash and cash equivalents

733.488

529.083

613.964

(e) Short-term loans and advances

240.235

427.974

323.403

(f) Other current assets

336.374

46.242

22.157

Total Current Assets

5627.263

2501.048

2118.034

 

 

 

 

TOTAL

7789.190

3813.848

3467.282

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

TOTAL REVENUE

11287.356

5055.124

4162.521

 

 

 

 

 

Less

EXPENSES

 10610.284

4742.524 

4164.646 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

677.072

312.600

(2.125)

 

 

 

 

 

Less

TAX

(348.444)

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1025.516

312.600

(2.125)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

(2239.219)

(2454.335)

(2452.209)

 

 

 

 

 

 

Balance Carried to the B/S

(1240.418)

(2239.218)

(2454.335)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

11181.489

3972.166

3531.517

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

5.87

1.79

(0.01)

 

 

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

722.803

15.963

238.891

Net cash flow from operating activity

680.386

15.667

219.365

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Net Profit Margin
(PAT / TOTAL REVENUE)

(%)

9.09

6.18

(0.05)

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

6.00

6.18

(0.05)

 

 

 

 

 

Return on Total Assets (PBT/Total Assets}

(%)

9.24

8.32

(0.06)

 

 

 

 

 

Return on Investment (ROI) (PBT/Networth)

 

0.19

0.13

0.00

 

 

 

 

 

Debt Equity Ratio (Total Debt /Networth)

 

0.00

0.00

0.01

 

 

 

 

 

Current Ratio (Current Asset/Current Liability)

 

1.39

2.03

1.72

 

 

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

1659.146

1672.097

1746.763

Reserves & Surplus

431.652

753.370

1752.170

Net worth

2090.798

2425.467

3498.933

 

 

 

 

Long-term borrowings

14.978

2.479

2.479

Short term borrowings

0.000

0.000

0.000

Total borrowings

14.978

2.479

2.479

Debt/Equity ratio

0.007

0.001

0.001

 

 

 

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 Revenue

4162.521

5055.124

11287.356

 

 

21.444

123.285

 

 

 

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 Revenue

4162.521

5055.124

11287.356

Profit / (Loss)

(2.125)

312.600

1025.516

 

(0.05%)

6.18%

9.09%

 

 

 

 

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

Yes

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

 

 

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long Term borrowings:

 

 

Loans and advances from related parties

2.479

2.479

 

 

 

Total

2.479

2.479

 

 

INDEX OF CHARGES

 

No Charges Exist for Company

 

 

CONTINGENT LIABILITIES:

                                                                                                                                                (Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

Guarantees issued by banks

0.000

71.189

Income Tax demand for the assessment year 2006-07 and 2007-08

0.000

20.387

Declaration forms for sales made at concessional rates

0.000

28.704

 

 

 

Note: Contingent liabilities are disclosed by way of notes to the financial statements after evaluation by the management of the facts and legal aspects of the issue involved. (31.03.2014)

 

 

 

 

 

FIXED ASSETS

 

  • Freehold Land
  • Leasehold Land
  • Buildings
  • Plant and Machinery
  • Electrical Installations
  • Furniture and Fixtures
  • Office Equipment’s
  • Computer
  • Vehicles

 

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 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.66.20

UK Pound

1

Rs.98.29

Euro

1

Rs.72.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KRN

 

 

Report Prepared by :

VLS

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

 

62

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.