MIRA INFORM REPORT
|
Report No. : |
307166 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENISHAW METROLOGY SYSTEMS LIMITED (w.e.f. 17.05.2013) |
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|
|
|
Formerly Known
As : |
RENISHAW
METROLOGY SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
S No. 283 Hissa No.2, S No.284 Hissa No.2 and 3 A, Raisoni Estate
Village Mann, Taluka Mulshi, Pune –
411057, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.07.2000 |
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Com. Reg. No.: |
130509 |
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Capital
Investment / Paid-up Capital : |
Rs. 354.051 Millions |
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CIN No.: [Company Identification
No.] |
U85110PN2000PLC130509 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCR6361F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
29 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track. Financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to regular and as per commitments. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Amol Nazare |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-66746710 |
|
Date : |
09.02.2015 |
LOCATIONS
|
Registered Office / Factory : |
S No. 283 Hissa No.2, S No.284 Hissa No.2 and 3 A, Raisoni Estate Village Mann, Taluka Mulshi, Pune – 411057, Maharashtra, India |
|
Tel. No.: |
91-2066746734 / 6674 6200 / 66746710 / 6674 6753 |
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Fax No.: |
91-20 6674 6750 / 6674 6211 / 66746750 |
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E-Mail : |
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Website : |
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Sales Office : |
Located At Bangalore |
DIRECTORS
As on 01.08.2014
|
Name : |
Daniel John Deer |
|
Designation : |
Director |
|
Address : |
8, Beech Grove3, Chepstow, NP165BD, United Kingdom |
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Date of Birth/Age : |
13.01.1938 |
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Date of Appointment : |
27.07.2000 |
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DIN No.: |
00615041 |
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Name : |
Allen Christopher George Roberts |
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Designation : |
Director |
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Address : |
Hill Farm, Wyesham Road, Wyesham Monmouth, NP253JT United Kingdom |
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Date of Birth/Age : |
30.05.1949 |
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Date of Appointment : |
27/07/2000 |
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DIN No.: |
00615099 |
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Name : |
Mark Moloney |
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Designation : |
Director |
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Address : |
52, Brookville, Hunters Lane, Ashbourne, Ireland |
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Date of Birth/Age : |
07.12.1959 |
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Date of Appointment : |
08.05.2006 |
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DIN No.: |
01263389 |
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|
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Name : |
Rhydian Huw Pountney |
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Designation : |
Director |
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Address : |
67, Sheldons Court, Winchcombe Street, Cheltenham, GL 522NR, United Kingdom |
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Date of Birth/Age : |
05.03.1961 |
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Date of Appointment : |
14.06.2004 |
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DIN No.: |
01263434 |
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Name : |
Robert Charles Green |
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Designation : |
Director |
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Address : |
Maperin, Church Road, Cains Cross, Stroud. GL54JE United Kingdom |
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Date of Birth/Age : |
05.12.1952 |
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Date of Appointment : |
19.03.2014 |
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DIN No.: |
01269499 |
|
Name : |
Benjamin Roller Taylor |
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Designation : |
Director |
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Address : |
29, Court Meadow Stone, Berkeley, GL139LR, United Kingdom |
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Date of Birth/Age : |
29.11.1948 |
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Date of Appointment : |
27.07.2000 |
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DIN No.: |
01774624 |
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Name : |
Suhas Sadashiv Cholkar |
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Designation : |
Whole-time director |
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Address : |
Flat No 13, Sai Tower, 273 Narayan Peth, Pune - 411 030, Maharashtra, India |
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Date of Birth/Age : |
18.03.1968 |
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Date of Appointment : |
01.08.2014 |
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DIN No.: |
02677985 |
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Name : |
Avinash Arvind Mahajan |
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Designation : |
Whole-time director |
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Address : |
190, Shukrawar Peth, A/4, Dudhya Maruti Society, Pune – 411002, Maharashtra, India |
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Date of Birth/Age : |
26.05.1972 |
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Date of Appointment : |
01.07.2013 |
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DIN No.: |
02678002 |
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Name : |
Vikas Saxena |
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Designation : |
Whole-time director |
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Address : |
Flat No. A501, , Nirmiteeshree Apt.,Oppo. Ganesh Temple, Aundh Road, Pune - 411020, Maharashtra, India |
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Date of Birth/Age : |
20.11.1973 |
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Date of Appointment : |
01.08.2014 |
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DIN No.: |
02679589 |
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|
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Name : |
Nachiket Ratnakar Deo |
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Designation : |
Director |
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Address : |
Plot No. 133, Sr. No. 27, PCNTDA, Pradhikaran, Nigadi, Pune 411 044, Maharashtra, India |
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Date of Birth/Age : |
22.12.1978 |
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Date of Appointment : |
08.07.2014 |
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DIN No.: |
02842185 |
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Name : |
Vaishali Atul Bhagwat |
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Designation : |
Director |
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Address : |
1204/13, Namaskar Apt.,F6, Shivajinagar, Near Gajanan Maharaj Mandir, Pune - 411 004, Maharashtra, India |
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Date of Birth/Age : |
09.04.1969 |
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Date of Appointment : |
08.07.2014 |
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DIN No.: |
06908208 |
KEY EXECUTIVES
|
Name : |
Mr. Amol Nazare |
|
Designation : |
Finance Manager |
|
Name : |
Mitra Prasad Parchure |
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Designation : |
Secretary |
|
Address : |
306, Sangam Heritage, Bhoir Colony, Chinchwad, Pune - 411 033, Maharashtra, India |
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Date of Birth/Age : |
15.09.1979 |
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Date of Appointment : |
01.07.2014 |
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PAN No.: |
ANXPP3183C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Renishaw Plc, United Kingdom |
|
1 |
|
Renishaw International Limited, United Kingdom |
|
35405094 |
|
Renishaw Metrology Limited, United Kingdom |
|
1 |
|
Renishaw Transducer Systems Limited, United Kingdom |
|
1 |
|
Renishaw Pt Limited, United Kingdom |
|
1 |
|
Allen Christopher George Roberts |
|
1 |
|
Norma Shou Yee Tang |
|
1 |
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Total |
|
35405100 |
Equity Share Break up (Percentage of Total Equity)
As on 01.08.2014
|
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
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Line of Business : |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
All over the world mainly
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
29 (Approximately) |
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Bankers : |
HSBC Bank |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
703, 7th Floor, Godrej Castlemaine, Nxt to Ruby Hall Clinic, Bund Garden Road, Pune 411001 |
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Tel. No.: |
91- |
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Mobile No.: |
91- |
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Fax No.: |
91- |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Ultimate Holding
Company ("UHC") : |
Renishaw Plc., U.K. |
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Holding Company : |
Renishaw International Limited., U.K. |
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Other related
parties with whom transactions have taken place during the year / Fellow
subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42,000,000 |
Equity Shares |
Rs.10/- each |
Rs.420.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,405,100 |
Equity Shares |
Rs.10/- each |
Rs. 354.051
Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
354.051 |
405.000 |
405.000 |
|
(b) Reserves & Surplus |
742.286 |
790.373 |
558.689 |
|
(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) |
1096.337 |
1195.373 |
963.689 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
62.513 |
122.340 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
25.625 |
24.004 |
14.301 |
|
Total
Non-current Liabilities (3) |
25.625 |
86.517 |
136.641 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.118 |
1.242 |
0.933 |
|
(b) Trade payables |
71.689 |
57.560 |
51.798 |
|
(c) Other current liabilities |
95.508 |
79.313 |
71.209 |
|
(d) Short-term provisions |
16.619 |
12.755 |
4.855 |
|
Total
Current Liabilities (4) |
184.934 |
150.870 |
128.795 |
|
|
|
|
|
|
TOTAL |
1306.896 |
1432.760 |
1229.125 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
407.640 |
427.450 |
452.472 |
|
(ii) Intangible Assets |
2.133 |
1.244 |
0.702 |
|
(iii) Capital work-in-progress |
0.000 |
1.472 |
2.755 |
|
(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) |
19.150 |
13.283 |
2.232 |
|
(d) Long-term Loan and Advances |
24.222 |
33.606 |
42.134 |
|
(e) Other Non-current assets |
32.886 |
54.501 |
24.764 |
|
Total
Non-Current Assets |
486.031 |
531.556 |
525.059 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
297.263 |
291.972 |
230.992 |
|
(c) Trade receivables |
206.772 |
215.427 |
150.456 |
|
(d) Cash and cash equivalents |
297.041 |
371.476 |
273.314 |
|
(e) Short-term loans and
advances |
15.018 |
10.262 |
41.674 |
|
(f) Other current assets |
4.771 |
12.067 |
7.630 |
|
Total
Current Assets |
820.865 |
901.204 |
704.066 |
|
|
|
|
|
|
TOTAL |
1306.896 |
1432.760 |
1229.125 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1393.944 |
1256.351 |
1055.872 |
|
|
Other Income |
32.164 |
53.201 |
23.065 |
|
|
TOTAL |
1426.108 |
1309.552 |
1078.937 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
624.904 |
504.591 |
435.777 |
|
|
Purchases of
Stock-in-Trade |
70.193 |
42.207 |
32.756 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(16.286) |
(0.340) |
(1.307) |
|
|
Employees benefits
expense |
197.802 |
175.559 |
134.149 |
|
|
Other expenses |
184.312 |
174.405 |
148.058 |
|
|
TOTAL (B) |
1060.925 |
896.422 |
749.433 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
365.183 |
413.130 |
329.504 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
9.009 |
14.126 |
20.371 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
356.174 |
399.004 |
309.133 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.283 |
44.744 |
54.621 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
309.891 |
354.260 |
254.512 |
|
|
|
|
|
|
|
Less |
TAX (H) |
110.315 |
122.576 |
93.880 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
199.576 |
231.684 |
160.632 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1006.676 |
924.807 |
785.127 |
|
|
Other Earning |
10.675 |
91.662 |
10.493 |
|
|
TOTAL EARNINGS |
1017.351 |
1016.469 |
795.620 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
555.614 |
520.699 |
410.790 |
|
|
Components and Stores
parts |
59.033 |
42.206 |
32.667 |
|
|
Capital Goods |
2.444 |
2.022 |
7.824 |
|
|
TOTAL IMPORTS |
617.091 |
564.927 |
451.281 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.52 |
5.72 |
3.97 |
Expected Sales ( 2014-2015 ) : Rs.1400.000 Millions
The above information has been parted / denied by Mr. Amol Nazare.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
14.32 |
18.44 |
15.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
26.20 |
32.88 |
31.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.06 |
24.98 |
20.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.30 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.05 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.44 |
5.97 |
5.47 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
405.000 |
405.000 |
354.051 |
|
Reserves & Surplus |
558.689 |
790.373 |
742.286 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
963.689 |
1195.373 |
1096.337 |
|
|
|
|
|
|
long-term borrowings |
122.340 |
62.513 |
0.000 |
|
Short term borrowings |
0.933 |
1.242 |
1.118 |
|
Total borrowings |
123.273 |
63.755 |
1.118 |
|
Debt/Equity ratio |
0.128 |
0.053 |
0.001 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1055.872 |
1256.351 |
1393.944 |
|
|
|
18.987 |
10.952 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1055.872 |
1256.351 |
1393.944 |
|
Profit |
160.632 |
231.684 |
199.576 |
|
|
15.21% |
18.44% |
14.32% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
75.878 |
62.513 |
61.170
|
|
|
|
|
|
|
Total |
75.878 |
62.513 |
61.170
|
|
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Other external commercial borrowings |
0.00 |
62.513 |
|
Total |
0.00 |
62.513 |
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
FINANCIAL RESULTS
During the consideration, the turnover of the Company has increased by 11 % as against 31st March, 2013 which is the result of growth in all business segments. The Directors hope that in the current financial year, the company will continue to grow by persistent efforts of all.
The Directors are pleased to report that the Company achieved a profitable result during the financial year.
Manufacturing
Division:
Year 2013-14 was a year of success and achievement for Manufacturing Division of the Company. Following are some statistical information and features which are elaborating these achievements:
Manufacturing Division reported efficiency of 94.98% as against target 90% and plant utilisation of 91.69% against target of 90%
Due to design aspects of 6402 arms, cost of quality arrived at 0.72% of the manufacturing cost which is higher than budgeted 0.5%.
Despite of low yield, the division is asked to continue the production.
Customer complaints for arms and cable are also much less than target i.e. zero for arms and 100PPM against target 500PPM for cables.
Delivery Performance against first Promised date is 96.60% for target of >95% and Delivery Performance against customer requested date is 90.20% for target of >90%
Finished Goods Stock Policy (on Qty.): 68.4% (Target : >90% to
PRIMARY SEGMENT
REPORTING
Manufacturing Division - Engaged in manufacturing of Arms and Cables
Software Division - Engaged in software development services.
Sales and Marketing Division - Engaged in trading activity and marketing support services
BACKGROUND
The company was incorporated in July 2000 under the Companies Act, 1956. Renishaws principal products are in relation to automated metrology. Renishaw products provide manufacturers with the ability to machine components accurately and perform measurements traceable to international standards. A wide range of automated probing systems have been developed to meet the needs of post-process inspection and for quality control.
Renishaw International Limited, an entity registered in United Kingdom, is the Holding Company (the Holding Company). The Companys ultimate holding company (Ultimate Holding Company) is Renishaw Plc, an entity registered in the United Kingdom.
Renishaw Metrology Systems Limiteds operations comprise three lines of business, namely, a manufacturing division under the Export Oriented Unit (EOU) scheme for manufacture of arms, cables and manual control unit, a Software division registered under the Software Technology Parks of India (STPI) scheme providing software development services to Renishaw Plc.,and a sales and marketing division for sale of Renishaw Groups products in India.
CONTINGENT
LIABILITIES:
- For Income Tax not provided for Rs.26.935 Millions (Previous year: Rs.40.710 Millions)
- On account of Financial Guarantees Rs. 2.025 Millions (Previous year: Rs. Nil)
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.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.20.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
54 |
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.