MIRA INFORM REPORT
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Report No. : |
309246 |
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Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ALPHA DESIGN TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
# 9, Service Road, Hal II Stage, Indiranagar, Bangalore - 560008,
Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.07.2003 |
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Com. Reg. No.: |
032191 |
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Capital
Investment / Paid-up Capital : |
Rs. 452.767 Million |
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CIN No.: [Company Identification
No.] |
U74140KA2003PTC032191 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA04710G |
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PAN No.: [Permanent Account No.] |
AAECA3323P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing integrated system solutions including simulated models,
software requirements for electronic systems and equipment, Industrial and
Security fencing. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2600000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has shown growth in the turnover and profitability during
financial year 2014. Trade relations are reported to be fair. Business is active. Payments
terms are reported to be slow but correct. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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
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Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities (Fund Based) = BB+ |
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Rating Explanation |
Have moderate risk of default |
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Date |
December 12, 2014 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities (Non Fund Based) = A4+ |
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Rating Explanation |
Have minimal degree of safety and carry very high credit risk |
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Date |
December 12, 2014 |
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. Ranga |
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Designation : |
Not Divulged |
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Contact No.: |
91-80-42556907 |
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Date : |
24.02.2015 |
LOCATIONS
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Registered Office/ Factory : |
# 9, Service Road, Hal II Stage, Indiranagar, Bangalore -
560008, Karnataka, India |
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Tel. No.: |
91-80-25212760 / 25212762 / 41264776 / 42556930 / 42556909 / 25216642 |
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Fax No.: |
91-80-25216541 / 25212761 |
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E-Mail : |
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Website : |
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Delhi Office : |
D-11, 1st Floor, Defence Colony, New Delhi – 110 024, India |
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Tel. No.: |
91-11-43136400 |
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Fax No.: |
91-11-41555487 |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr. Holenarasipura Srikantaiah Shankar |
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Designation : |
Managing Director |
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Address : |
# 3778, 13th Main Road, Hal II Stage, Bangalore – 560008, Karnataka, India |
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Date of Birth/Age : |
08.03.1943 |
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Date of Appointment : |
02.07.2003 |
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DIN No.: |
00279285 |
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Other Directorship :
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Name : |
Mr. Rakesh Dhar Jayal |
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Designation : |
Whole-time Director |
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Address : |
A- 16/9, Vasant Vihar, Delhi – 110057, India |
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Date of Birth/Age : |
04.11.1949 |
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Date of Appointment : |
29.09.2011 |
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DIN No.: |
02220460 |
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Other Directorship :
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Name : |
Mr. Akunuri Mohana Rao |
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Designation : |
Director |
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Address : |
Flat No: 307, Ps Pride Apartment No: 54, K.R Road, Basavanagudi, Bangalore - 560004, Karnataka, India |
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Date of Birth/Age : |
02.04.1943 |
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Date of Appointment : |
30.09.2009 |
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DIN No.: |
02712090 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Gurumurthy G Hegde |
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Designation : |
Secretary |
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Address : |
No.270/A, 13th Main, 4th Cross, Mathikere, Bangalore – 560054, Karnataka, India |
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Date of Birth/Age : |
23.09.1981 |
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Date of Appointment : |
01.12.2009 |
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PAN No.: |
ACYPH0540C |
MAJOR SHAREHOLDERS
As on 30.09.2014
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Names of Equity Shareholders |
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No. of Shares |
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Vasaka Promoters and Developers Private Limited, India |
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32066666 |
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Col. (Retd.) H.S. Shaimkar |
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10000 |
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Total |
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32076666 |
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Names of Preference Shareholders |
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No. of Shares |
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Midpoint Marketing Private Limited, India |
|
13200000 |
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Total |
|
13200000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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Bodies corporate |
99.97 |
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Directors or relatives of Directors |
0.03 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing integrated system solutions including simulated models,
software requirements for electronic systems and equipment, Industrial and
Security fencing. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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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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Facilities : |
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Auditors : |
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Name : |
B.P. Rao and Company Chartered Accountants |
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Address : |
No.5, Poorna Prasad Road, High Grounds, Bangalore – 560001, Karnataka, India |
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PAN No.: |
AAAFB0643G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Vasaka Promoters and Developers Private Limited |
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Subsidiary Company
: |
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Joint Venture
Company : |
Alpha Electromachina Power Systems Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Million |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000 Million |
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Total |
|
Rs.600.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
32076666 |
Equity Shares |
Rs.10/- each |
Rs.320.767 Million |
|
13200000 |
Preference Shares |
Rs.10/- each |
Rs.132.000 Million |
|
45276666 |
Total |
|
Rs. 452.767
Million |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
452.767 |
317.600 |
300.100 |
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(b) Reserves &
Surplus |
468.045 |
373.630 |
264.861 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
920.812 |
691.230 |
564.961 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
236.082 |
225.714 |
278.539 |
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(b) Deferred tax
liabilities (Net) |
37.329 |
8.087 |
0.000 |
|
(c) Other long term
liabilities |
109.736 |
219.014 |
14.539 |
|
(d) long-term provisions |
0.123 |
2.364 |
1.466 |
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Total Non-current
Liabilities (3) |
383.270 |
455.179 |
294.544 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
249.270 |
253.249 |
253.924 |
|
(b) Trade payables |
411.358 |
761.916 |
378.301 |
|
(c) Other current
liabilities |
141.099 |
218.199 |
110.263 |
|
(d) Short-term provisions |
22.855 |
5.517 |
0.552 |
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Total Current Liabilities
(4) |
824.582 |
1238.881 |
743.040 |
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TOTAL |
2128.664 |
2385.290 |
1602.545 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
295.395 |
259.603 |
177.755 |
|
(ii) Intangible Assets |
88.469 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
195.851 |
192.791 |
393.200 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
53.227 |
53.726 |
48.327 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
2.719 |
|
(d) Long-term Loan and Advances |
26.262 |
50.640 |
94.824 |
|
(e) Other Non-current
assets |
22.397 |
20.864 |
18.777 |
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Total Non-Current Assets |
681.601 |
577.624 |
735.602 |
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(2) Current assets |
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|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
505.338 |
242.727 |
354.666 |
|
(c) Trade receivables |
547.637 |
1206.856 |
239.924 |
|
(d) Cash and cash
equivalents |
234.000 |
260.196 |
226.218 |
|
(e) Short-term loans and
advances |
115.768 |
74.251 |
25.949 |
|
(f) Other current assets |
44.320 |
23.636 |
20.186 |
|
Total Current Assets |
1447.063 |
1807.666 |
866.943 |
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|
|
|
|
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TOTAL |
2128.664 |
2385.290 |
1602.545 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1422.728 |
1041.383 |
441.315 |
|
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Other Income |
78.385 |
84.849 |
42.669 |
|
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TOTAL (A) |
1501.113 |
1126.232 |
483.984 |
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||
|
Less |
TOTAL EXPENSES (B) |
1292.505 |
1013.792 |
479.094 |
|
|
|
|
|
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
208.608 |
112.440 |
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|
|
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|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
42.226 |
49.183 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
166.382 |
63.257 |
(Including
Depreciation and Finance ) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.486 |
22.432 |
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|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
130.896 |
40.825 |
4.890 |
|
|
|
|
|
|
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Less |
TAX (H) |
52.315 |
19.556 |
0.867 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
78.581 |
21.269 |
4.023 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
778.820 |
32.151 |
130.700 |
|
|
Export of Services |
2.520 |
8.685 |
5.900 |
|
|
Others Reimbursement
Received |
0.000 |
0.000 |
1.653 |
|
|
TOTAL EARNINGS |
781.340 |
40.836 |
138.253 |
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
Raw Materials |
780.602 |
638.671 |
264.400 |
|
|
Components and Stores
parts |
0.000 |
0.000 |
0.000 |
|
|
Capital Goods |
0.644 |
93.138 |
79.100 |
|
|
TOTAL IMPORTS |
781.246 |
731.809 |
343.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.74 |
0.47 |
0.09 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/ Sales) |
(%) |
5.52 |
2.04 |
0.91 |
|
|
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|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.66 |
10.80 |
1.11 |
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.96 |
1.91 |
0.42 |
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|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.06 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53 |
0.69 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.46 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
300.100 |
317.600 |
452.767 |
|
Reserves & Surplus |
264.861 |
373.630 |
468.045 |
|
Net worth |
564.961 |
691.230 |
920.812 |
|
|
|
|
|
|
long-term borrowings |
278.539 |
225.714 |
236.082 |
|
Short term borrowings |
253.924 |
253.249 |
249.270 |
|
Total borrowings |
532.463 |
478.963 |
485.352 |
|
Debt/Equity ratio |
0.942 |
0.693 |
0.527 |
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 |
441.315 |
1041.383 |
1422.728 |
|
|
|
135.973 |
36.619 |
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 |
441.315 |
1041.383 |
1422.728 |
|
Profit |
4.023 |
21.269 |
78.581 |
|
|
0.91% |
2.04% |
5.52% |
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 |
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 |
Yes |
Note:
The Registered office of the company has been shifted 1st
Floor, No. 24 Service Road, Domlur IInd Stage Extension,
Indiranagar, Bangalore – 560071, Karnataka, India to the present address w.e.f.
18.08.2006
FINANCIAL REVIEW:
During the year, the Company has reported total turnover of Rs. 1422.728 Million during the year against Rs. 1041.383 Million of total turnover registered in the previous year i.e. increase by 36.61%. The turnover of the Company has been increased on account of execution of additional orders bagged by Company. The net profit after tax has increased by 269.46% to Rs. 78.581 compared to Rs. 21.269 Million for the previous year.
The Company performance will improve further due to execution of export orders bagged during the year 2013-14. The Directors expect further improvement in the performance of the Company in the years to come due to business strategies adopted by the Company and strong order book position.
BUSINESS PERFORMANCE:
The Company has succeeded in performing well during the last year. The successful execution and completion of projects in hand has earned the Company, a prominent position in the Indian Defence Sector among private sector organizations. The Company has successfully completed supply of Missile Launch Detection System (MILDS) to Bharat Electronics Limited and Thermal Image Sight Kit to Elbit Systems Electro-Optics-Elop Ltd., as part of the Offset Programme, which has created a huge impact on the business revenue for the last year.
During the year, the Company has signed offset contracts (Exports) for USD 37.20 Million towards supply of 1000 numbers of manufactured parts/assemblies of Thermal Imager Fire Control Systems (TIFCS). As part of its Offset Programmes, the Company is expecting to sign several offset contracts in the forthcoming years. Apart from Offset, the Company has been declared as L1 for manufacture and supply of 6804 numbers of Optical Sight for AK 47, BMP II Simulator, Generic Smart Display Unit during the year.
The Company being an Offset Partner for establishing 3 Simulator Centres at different Air Force Stations, constructions of buildings at Sarsawa, Adhampur and Bagdogra has been started and the Company will provide training to Airforce Pilots at these centers and steady year-wise turnover is expected for next 20 years.
As a part of procurement policy of Ministry of Defence, the Company is participating in trials and development process for various projects, among others, Zu 23mm Gun Upgrade, Inertial Navigation System, Micro and Mini UAV, Alpha Radar-Seeker and Miscellaneous activities of MIG? 29 Aircraft are the major one. For the current year, the Company will execute major orders i.e. Missile Launch Detection System (MILDS), ULSB MK-III, TISK and TIFCS which will boost the turnover.
Research and Developments investments made in the earlier years are in the final stages and are expected to yield results in near future. Association with DRDO, DRDL, Defense PSU’s and Foreign Collaborators in Niche technologies has resulted in strengthening the position of the Company in the Defence Sector. The Company has business advantage over its competitors since the Company is not adhered to any one particular segment in the defense industry but it has professional competence and capability to design, develop, manufacture and execution of products or projects in the segments like Optronics and Fire Control Systems, Communications and C3I, Electronic Warfare, Simulators, Microwave and other related areas.
By delivering the orders in time bound manner with assured quality level, the Company has strengthened its footprints in the defence sector. During the year many actions have been taken to strengthen the Company’s business and delivery capabilities. By developing large number of in house R & D projects, a firm base has been established for accomplishing greater success in the years to come.
INDUSTRY REVIEW:
Indian industry is upbeat about the opportunities in the Indian defense sector. The Indian defense market presents attractive and significant opportunity for Indian companies. India has the third-largest armed forces in the world, and its defense budget is about 1.90% of its GDP. India is one of the largest importers of conventional defense equipment and spends about 40% of its total defense budget on capital acquisitions. In the budget for FY 2014-15, Government of India increased the Foreign Direct Investment in the defence sector to 49% as compared to 26% earlier, to boost the development of indigenous hardware.
To provide further impetus to building a domestic industrial base, the government announced a defense offset policy that mandated a minimum 30% plough-back of foreign outflows from defense procurement exceeding INR 30 billion into the Indian defense industry. The policy allows foreign suppliers to choose their Indian offset partner'in either the private or public sector’in discharging their offset obligations. Transfer of technology (ToT) has been made eligible for offsets, multipliers allowed; banking provisions liberalized, and time frames for the discharge of offsets relaxed.
FUTURE OUTLOOK:
The outlook for the Defence Industry and the Company is bright and cheerful for the financial year 2014-15 and beyond. Continues efforts and commitment from the Indian Government for the security of the nation will boost the demand in the defence sector. The demand for the Indian defence will enhance because of changing geopolitical scenarios on India’s border, new procurement will be necessary to replace obsolete equipment’s, internal security requirements and strong underlying economic growth would allow for increased government spending on defence and that will help the Company to procure large number of orders in future.
Even though there will be huge competition in the market, the Company will tackle the opportunities in the market based on its core strengths such as experienced managerial team with considerable domain and technology expertise, in house developed technical know-how, necessary infrastructure facilities and strong marketing and supply chain. The hard working team of the Company along with its experts will help the Company to grow and sustain in the industry. The Company plans to enter into strategic partnerships with International and Domestic companies to expand and continue to maintain its position in the industry.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debenture intercorporate |
107.000 |
0.000 |
|
Loans and advances from related parties |
124.500 |
26.402 |
|
Other loans and advances |
4.500 |
199.000 |
|
Total |
236.000 |
225.402 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10502481 |
21/05/2014 |
52,828,000.00 |
Indian Overseas Bank |
15th Cross Road,10th Main Road, Malleswaram, Bangalore, Karnataka - 560055, INDIA |
C06363592 |
|
2 |
10049852 |
12/07/2013 * |
479,200,000.00 |
State Bank of India |
No.20, Badaganadu sangha, Girls High School Street, Seshadripuram, kumarapark (West), Bangalore, Karnataka - 560020, INDIA |
B80644156 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Income Tax Demand |
1.033 |
98.593 |
|
Guarantees - Corporate Guarantee to Bank for lending to Subsidiary |
63.500 |
63.500 |
|
Total |
64.533 |
162.093 |
FIXED ASSETS
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Other equipments
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 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. 62.28 |
|
|
1 |
Rs. 96.21 |
|
Euro |
1 |
Rs. 70.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
45 |
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.