MIRA INFORM REPORT

 

 

Report No. :

306984

Report Date :

10.02.2015 

 

IDENTIFICATION DETAILS

 

Name :

CRANE PROCESS FLOW TECHNOLOGIES (INDIA) PRIVATE LIMITED (w.e.f. 06.08.2014)

 

 

Formerly Known As :

CRANE PROCESS FLOW TECHNOLOGIES (INDIA) LIMITED

ALFA LAVAL SAUNDERS (INDIA) LIMITED

SAUNDER VALVES (INDIA) LIMITED

 

 

Registered Office :

"Solitaire", 5th and 6th Floor, Plot No.1 and 2, S. No.131/1 and 2, Aundh, Pune – 411 007, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

04.05.1990

 

 

Com. Reg. No.:

25-056417

 

 

Capital Investment / Paid-up Capital :

Rs.95.000 millions

 

 

CIN No.:

[Company Identification No.]

U29120PN1990PTC056417

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEA02690C

PNEC07006G

 

 

PAN No.:

[Permanent Account No.]

AABCA4702H

AAATC8152B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing of wide range of quality Industrial Valves namely Diaphragm Valves, Butterfly Valves, Actuators and Spares for Valves and also engaged in providing engineering services related to product designing and development activities, vendor development services related to sourcing from India, quality and pricing, etc. and sales solicitation services related to getting orders from Indian customers.

 

 

No. of Employees :

Information declined by the Management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (60)

 

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 1784000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established company having a good track record.

 

Financially company seems to be strong. Liquidity position is good. There appears no external borrowing.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment.

 

The company can be considered for normal business dealings at usual trade terms and condition.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

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 31-03-2014.

 

INFORMATION DECLINED BY

 

Name :

Mr. Dinesh Upadhyay

Designation :

Sales Director

Contact No.:

91-8007773081

Date :

07.02.2015

 

 

LOCATIONS

 

Registered Office/ Head Office :

"Solitaire", 5th and 6th Floor, Plot No.1 and 2, S. No.131/1 and 2, Aundh, Pune – 411 007, Maharashtra, India

Tel. No. :

91-20-30567800

Fax No. :

91-20-30567812

E-Mail :

avinash.chandavale@craneflow.com

 

 

Factory :

E7, E8/2, M.I.D.C., Satara – 415 004, Maharashtra, India

Tel. No.:

91-2162-244417/ 244486

Fax No.:

91-2162-245126

 

 

Branch Office :

Located at:

 

·         Vadodara

·         Bangalore

·         Chandigarh

·         Chennai

·         New Delhi

·         Kolkata

·         Orissa

·         Mumbai

·         Hyderabad

 

 

DIRECTORS

 

AS ON 24.06.2014

 

Name :

Mr. David George Jones

Designation :

Director

Address :

4, Clos Dwyerw, Caerphilly, United Kingdom CF831TE

Date of Birth/Age :

05.08.1969

Date of Appointment :

24.09.2008

DIN No. :

02516099

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

U29120PN1990PTC056417

CRANE PROCESS FLOW TECHNOLOGIES (INDIA) PRIVATE LIMITED

Director

24/09/2008

26/03/2008

-

Active

NO

2

U28999TN2001PLC047056

XOMOX SANMAR LIMITED

Director

25/09/2013

22/03/2013

-

Active

NO

 

 

Name :

Andrew Raymond Powell

Designation :

Director

Address :

33, Penrhos Radyr, Cardiff, United Kingdom, CF158RJ

Date of Birth/Age :

11.03.1975

Date of Appointment :

25.06.2012

DIN No. :

05137160

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

U29120PN1990PTC056417

CRANE PROCESS FLOW TECHNOLOGIES (INDIA) PRIVATE LIMITED

Director

25/06/2012

05/12/2011

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Dinesh Upadhyay

Designation :

Sales Director

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 24.06.2014

 

Names of Shareholders

 

 

No. of Shares

Crane Process Flow Technologies Limited, UK

 

7030000

Crane Limited, UK

 

2469995

Crane International Holding Inc., USA

 

1

Avinash Chandavale

 

1

Shashimohan Arora

 

1

Mark Tucker

 

1

David Jones

 

1

Total

 

9500000

 

AS ON 24.06.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

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

 

 

 

                 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of wide range of quality Industrial Valves namely Diaphragm Valves, Butterfly Valves, Actuators and Spares for Valves and also engaged in providing engineering services related to product designing and development activities, vendor development services related to sourcing from India, quality and pricing, etc. and sales solicitation services related to getting orders from Indian customers.

 

 

Products :

Item Code No. (ITC Code)

 

Product Description

84818030

Industrial Valve

84819090

Industrial Valve Components

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS (AS ON 31.12.2011):

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Industrial Valves

(Nos..)

N.A.

202,084

96,284

Industrial Valve Components

(Nos)

N.A.

N.A.

645,692

 

Notes:

 

1. Installed Capacity is as certified by the Works Manager.

2. N.A. – Not Applicable

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

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

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Indiabulls Finance Centre, 32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Mill Compound, Elphinstone (West), Mumbai – 400 013, Maharashtra, India

PAN No.:

AACFD4815A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:

Crane Process Flow Technologies Limited, UK

 

 

Ultimate Holding Company:

Crane Co., USA

 

 

Fellow Subsidiary Companies:

  • Crane Process Flow Technologies GmbH, Germany (Crane - Germany)
  • Crane Process Flow Technologies, S.r.l., Italy (Crane, Italy)
  • Crane Process Flow Technologies, S.P.R.L., Belgium, (Crane, Belgium)
  • MCC Holdings Inc (Crane Energy Flow Solutions)
  • Crane Resistoflex GMBH
  • Xomox International GMBH and Co.
  • Xomox Chihuahua S.A. DE C.V
  • Xomox Corporation
  • MCC Holdings Inc (Division - Pacific Valves)
  • MCC Holdings Inc (Division - Flowseal)
  • Barksdale GMBH
  • ELDEC Corporation (Crane Aerospace)
  • Crane Australia PTY Limited (Crane - Australia)
  • Crane International Trading (Beijing) Co. Limited (Crane - China)
  • Crane Ningjin Valve Co. Limited
  • Crane Limited (Crane Building Services and Utilities)
  • Barksdale Inc.
  • Crane Pumps and Systems, Inc.
  • Crane Nuclear Inc.
  • Crane Aerospace Inc. (Crane Aerospace and Electronics)
  • Crane Canada Company (Division - Cash Code)
  • Xomox Japan Limited
  • Xomox Korea Limited
  • Crane (Asia Pacific) PTE Limited
  • P.T. Crane Indonesia
  • Xomox Hungary Kft.
  • Crane Limited (Division - Viking Johnson)
  • MCC Holdings Inc (Resistoflex)
  • Flow Technologies, Inc
  • Friedrich Krombach GmbH Armaturanwerke
  • Crane Stockham Valve Limited
  • Crane Canada Company (Division - Crane Supply)
  • Crane Environmental Inc
  • Hydro-Aire, Inc.
  • Crane Electronics, Inc.
  • Crane Composites, Inc
  • Crane Merchandising Systems Limited
  • National Rejectors, Inc. GmbH
  • Money Controls UK Limited
  • Crane Fluid Systems

 

 

CAPITAL STRUCTURE

 

AS ON 24.06.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

9500000

Equity Shares

Rs.10/- each

Rs.95.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

9500000

Equity Shares

Rs.10/- each

Rs.95.000 millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2013

31.12.2012

31.12.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

95.000

95.000

95.000

(b) Reserves & Surplus

529.351

427.134

328.273

(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)

624.351

522.134

423.273

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

2.400

(d) Long-term provisions

10.512

12.441

15.649

Total Non-current Liabilities (3)

10.512

12.441

18.049

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

182.071

168.051

0.000

(c) Other current liabilities

16.375

18.160

187.534

(d) Short-term provisions

13.292

4.692

0.000

Total Current Liabilities (4)

211.738

190.903

187.534

 

 

 

 

TOTAL

846.601

725.478

628.856

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

67.959

73.936

44.499

(ii) Intangible Assets

7.354

3.201

3.326

(iii) Capital work-in-progress

0.646

0.758

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.005

0.005

0.005

(c) Deferred tax assets (net)

2.639

2.283

2.357

(d)  Long-term Loan and Advances

37.902

35.365

36.081

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

116.505

115.548

86.268

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

107.929

109.175

127.267

(c) Trade receivables

176.098

161.919

168.828

(d) Cash and cash equivalents

409.915

312.721

205.738

(e) Short-term loans and advances

24.491

17.608

34.483

(f) Other current assets

11.663

8.507

6.272

Total Current Assets

730.096

609.930

542.588

 

 

 

 

TOTAL

846.601

725.478

628.856

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2013

31.12.2012

31.12.2011

 

SALES

 

 

 

 

 

Revenue from Operations

938.907

966.103

906.532

 

 

Other Income

36.342

17.929

22.866

 

 

TOTAL                                     (A)

975.249

984.032

929.398

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

444.661

472.972

804.499

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

0.042

5.472

 

 

 

Employee benefit expense

157.270

131.708

 

 

 

Other expenses

204.018

212.111

 

 

 

TOTAL                                     (B)

805.991

822.263

804.499

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

169.258

161.769

124.899

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

0.229

0.003

3.713

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

169.029

161.766

121.186

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

13.667

12.695

9.003

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)           

155.362

149.071

112.183

 

 

 

 

 

Less

TAX                                                                  (H)

53.144

50.211

37.727

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

102.218

98.860

74.456

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

414.181

315.321

240.865

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

516.399

414.181

315.321

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB value of exports

266.868

252.533

251.251

 

 

Service Income

114.192

106.573

63.397

 

 

Commission income

0.000

0.367

0.303

 

TOTAL EARNINGS

381.060

359.473

314.951

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw materials and bought out components

73.103

84.820

117.992

 

TOTAL IMPORTS

73.103

84.820

117.992

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

10.76

10.41

7.84

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2013

31.12.2012

31.12.2011

Net Profit Margin

(PAT/Sales)

(%)

10.89

10.23

8.21

 

 

 

 

 

Operating Profit Margin

(PBDIT/ Sales)

(%)

18.03

16.74

13.78

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

18.42

20.63

17.91

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.29

0.27

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.45

3.19

2.89

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.12.2011

31.12.2012

31.12.2013

 

(INR in Mlns.)

(INR in Mlns.)

(INR in Mlns.)

Share Capital

95.000

95.000

95.000

Reserves & Surplus

328.273

427.134

529.351

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

423.273

522.134

624.351

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2011

31.12.2012

31.12.2013

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Revenue from Operations

906.532

966.103

938.907

 

 

6.571

(2.815)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2011

31.12.2012

31.12.2013

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Revenue from Operations

906.532

966.103

938.907

Profit

74.456

98.860

102.218

 

8.21%

10.23%

10.89%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

-----

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

-----

22]

Litigations that the firm / promoter involved in

-----

23]

Banking Details

No

24]

Banking facility details

No

25]

Conduct of the banking account

-----

26]

Buyer visit details

-----

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

Note:

 

The registered office of the company has been shifted from 9th Floor, Amar Avinash Corporate Plaza, Near Inox Multiplex, Bund Garden Road, Pune – 411 001, Maharashtra to the present address w.e.f. 12.03.2012.

 

COMPANY BACKGROUND:

 

The Company was incorporated in 1990. The Company has put up its manufacturing facility at MIDC, Satara near Pune, India. The Company is an ISO 9001 Company and engaged in manufacturing of wide range of quality Industrial Valves namely Diaphragm Valves, Butterfly Valves, Actuators and Spares for Valves. These products finds application in different segments of industries such as Chemicals, Fertilizers, Petrochemicals, Paper, Sugar, Pharmaceuticals, Paints, Water Treatment, etc.

 

REVIEW OF BUSINESS OPERATIONS:

 

Besides marginal decrease in the turnover of the Company due to global slowdown, the profits of the Company after tax were increase as compared to previous year. The management of the Company has controlled the input costs of the products which ultimately reduced expenditures of the Company and rise in profits.

 

The management of the Company has decided to convert Company into private limited company and accordingly resolution is placed before the forth coming Annual General Meeting.

 

FUTURE PROSPECTS

 

The growth on export front is likely to remain stable in the current year; the domestic market will witness major growth considering the present prospect.

 

Barring unforeseen contingencies, business in the current year is likely to be very satisfactory.

 

 

INDEX OF CHARGES

 

No Charges Exist for Company.

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.12.2013

(Rs. in Millions)

31.12.2012

(Rs. in Millions)

i) Income Tax demands disputed in appeals

Primarily relates to disallowance of provision for obsolete and slow moving inventory, penalty, disallowance of certain expenses, etc. for various assessment years. Company has filed appeals before the Commissioner of Income-Tax (Appeals) and Income Tax Appelate Tribunal

1.622

1.378

ii) Sales Tax demands disputed in appeals

Primarily relates to non-submission of ‘C’ forms for various years. The matter is pending before Assistant Commissioner of Sales Tax (Appeals)

Note:

In all the above matters, the Company is hopeful of succeeding and as such does not expect any significant liability to crystallize.

--

0.847

 

 

FIXED ASSETS

 

Tangible Assets

·         Leasehold Land

·         Buildings and Roads

·         Plant and Equipment

·         Moulds and Dies

·         Furniture and Fixtures

·         Vehicles

·         Leasehold Improvements

·         Office Equipments

·         Computers

Intangible Assets

·         Software

 

 

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.62.14

UK Pound

1

Rs.94.79

Euro

1

Rs.70.38                                

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

-- PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

6

--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

 

60

 

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.