MIRA
INFORM REPORT
|
Report No. : |
301606 |
|
Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPICER INDIA LIMITED |
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Registered
Office : |
29 Milestone, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.07.1993 |
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Com. Reg. No.: |
11-073227 |
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Capital
Investment / Paid-up Capital : |
Rs.978.300 millions |
|
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CIN No.: [Company Identification
No.] |
U34300MH1993PLC073227 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES11424A |
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PAN No.: [Permanent Account No.] |
AAECS1869C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in business of manufacturing of drivetrain products and service parts namely axles, driveshaft’s and components. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
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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 record. There seems some dip in the turnover and profit of the company during
FY 2014 however, financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal 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
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 DENIED
Management Non Co-operative (91-2135-616100)
LOCATIONS
|
Registered Office : |
29 Milestone, Pune-Nashik
Highway, Village Kuruli, Taluka
Khed, Pune – 410 501, Maharashtra, India |
|
Tel. No.: |
91-2135-301100 / 301125/ 301122 91-20-24102501/ 02 / 03/ 04 / 05 / 562501 / 2135-2301125 / 301100 |
|
Mobile No. : |
91-9623121814 [Mr. Pravin] |
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Fax No.: |
91-2135-301122 91-20-24102516 / 2135-252229/24120516 / 562516 / 2301122 (General office) / 301133 (Axle Office) |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate
Office: |
Survey No.24/P and 29/9 Village, Jodalli –
580 114, Karnataka, India |
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Factory 1: |
Village, Jodalli, Taluka Kalghatgi, District Dharwad, Jodalli - 580 114, Karnataka, India |
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Tel No: |
91-836-2310482/3 |
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Fax No: |
91-836-2310481 |
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Factory 2: |
Plot 144, SIPCOT Industrial Comples, Phase – I, Hosur – 635 126, Tamilnadu, India. |
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Tel No: |
91-4344-277026 |
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Fax No: |
91-4344-277803 |
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Factory 3: |
Gat No.74/A, Tulja Bhavani Industrial Estate, Near to Additional M.I.D.C. Karandwadi, Satara – 415 004, Maharashtra, India |
|
Tel No: |
91-2162-246503/4/6 |
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Fax No: |
91-2162-246505 |
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Factory 4: |
622-626, Kuruli, Chakan, Pune – 410 501, Maharashtra, India |
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Tel No: |
91-2135-252228 |
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Factory : |
Also located at: · Santnagar, Uttarakhand, India ·
Hobli Uttarakhand, India |
DIRECTORS
AS ON 18.08.2014
|
Name : |
Mr. Deepak Chopra |
|
Designation : |
Managing Director |
|
Address : |
7 and 8, Anfilco Housing Colony, Anand Farm, Palam Gurgaon Road, Gurgaon – 122
016, Haryana, India
|
|
Date of Birth/Age : |
15.12.1954 |
|
Qualification : |
ACA, ACS |
|
Date of Appointment : |
19.01.2014 |
|
DIN No.: |
00028770 |
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PAN No.: |
ACEPC2926R |
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|
|
|
Name : |
Mr. Deep Chand Anand |
|
Designation : |
Director |
|
Address : |
No.1, Sri Aurobindo Marg,
Hauz Khas, New Delhi -
110 016, India |
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Date of Birth/Age : |
26.08.1933 |
|
Date of Appointment : |
29.07.1993 |
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DIN No.: |
00090123 |
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|
Name : |
Mr. Robert David Pyle |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
No.4, Gao An Road, Xuhui
District, Shanghai 200030, China |
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Date of Birth/Age : |
12.12.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.06.2012 |
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DIN No.: |
03622775 |
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Name : |
Mr. Mark Emerson Wallace |
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Designation : |
Director appointed in casual vacancy |
|
Address : |
790 Broad CT N, Naples FL, 34102, United States of America |
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Date of Birth/Age : |
16.01.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
16.09.2011 |
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DIN No.: |
03645546 |
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Name : |
Mr. Jason Wesley Johnson |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
2311 Gibley Park Road, Toledo OH, 43617,
United States of America |
|
Date of Birth/Age : |
15.03.1972 |
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Date of Appointment : |
07.03.2012 |
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DIN No.: |
05226025 |
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Name : |
Mr. Saket Sapra |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Hotel Oakwood Premier, 81, Mundhwa, Koregaon Park Annex, Pune – 411
036, Maharashtra, India |
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Date of Birth/Age : |
14.09.1971 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
05154694 |
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Name : |
Mr. Manoj Rajendra
Kolhatkar |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
C-8, Kapil Malhar,
S.No.184 188, Baner, Pune
– 411 045, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1968 |
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Date of Appointment : |
25.06.2013 |
|
DIN No.: |
03553983 |
MAJOR SHAREHOLDERS
AS ON 18.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Dana World Trade Corporation, USA |
|
73274670 |
|
Asia Investments Limited, India |
|
24555325 |
|
Praveshkumar Srivastava |
|
1 |
|
Chandrakant Somabhai Patel |
|
1 |
|
K.K. Jaggi |
|
1 |
|
Deepak R. Chopra |
|
1 |
|
Charanjit Singh |
|
1 |
|
Total |
|
97830000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 18.08.2014
|
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 |
74.90 |
|
Bodies corporate |
25.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in business of manufacturing of drivetrain products and service parts namely axles, driveshaft’s and components. |
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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 : |
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
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Deutsche Bank, Hazarimal Somani Marg, Fort, Mumbai – 400001, Maharashtra, India · Bank of Nova Scotia, Mittal Towers, 'B' Wing, Nariman Point, Mumbai - 400021, Maharashtra, India · Standard Charted Grindlays Bank Limited ·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai –
400013, Maharashtra, India ·
Yes Bank ·
Kotak Mahindra Bank
Limited |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No.
8, Airport Road, Yerawada, Pune
– 411006, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
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Membership : |
-- |
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Holding Company : |
Dana World Trade Corporation, United States |
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Ultimate Holding
Company: |
Dana Automotive Systems Group, LLC, United States |
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Fellow Subsidiary Companies : |
·
C.A. Danaven ·
Dana India Private Limited, India ·
Dana Australia Pty. Limited, Australia ·
Dana Austria GmbH, Austria ·
Dana Global Products, Inc., United States ·
Dana GmbH, Germany ·
Dana Heavy Vehicle Systems Group, LLC ·
Dana Industrias Ltda., Brazil ·
Dana Italia, SpA, Italy
·
Dana Japan, Limited, Japan ·
Dana Spicer (Thailand) Limited, Thailand ·
Dana Spicer Europe Limited, United Kingdom ·
Dana Spicer Industria e
Comercio Autopecas Ltda., Brazil ·
Dana UK Driveshaft Limited, United Kingdom ·
Dana de México Corporation, S. de R.L. de C.V.,
Mexico ·
Fujian Spicer Drivetrain System Co., Limited, China ·
Gearmax (Pty) Limited,
South Africa ·
Industria de Ejes y Transmissiones S.A.,
Colombia · Najico Spicer Company, Limited, Japan · ROC Spicer Limited, Taiwan ·
Spicer Axle Australia Pty Limited, Australia ·
Spicer Ayra Cardan, S.A., Spain · Spicer Ejes Pesados S.A., Argentina · Spicer France S.A.S., France · Spicer Gelenkwellenbau GmbH, Germany ·
Spicer Nordiska Kardan AB, Sweden |
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|
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Asia Investments Private Limited, India (CIN No.: U65993MH1966PTC206200) |
CAPITAL STRUCTURE
AS ON 18.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109000000 |
Equity Shares |
Rs.10/- each |
Rs.1090.000 Millions |
|
100000 |
Preference Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.1100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
97830000 |
Equity Shares |
Rs.10/- each |
Rs.978.300 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
978.300 |
978.300 |
978.300 |
|
(b) Reserves & Surplus |
1531.880 |
1341.723 |
1065.641 |
|
(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) |
2510.180 |
2320.023 |
2043.941 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
152.653 |
|
(b) Deferred tax liabilities (Net) |
53.689 |
88.324 |
20.665 |
|
(c) Other long term liabilities |
7.152 |
7.003 |
6.992 |
|
(d) long-term provisions |
51.428 |
10.859 |
10.201 |
|
Total Non-current Liabilities (3) |
112.269 |
106.186 |
190.511 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2110.128 |
2480.579 |
2231.418 |
|
(c) Other current
liabilities |
134.175 |
249.118 |
198.468 |
|
(d) Short-term provisions |
329.892 |
361.600 |
375.256 |
|
Total Current Liabilities (4) |
2574.195 |
3091.297 |
2805.142 |
|
|
|
|
|
|
TOTAL |
5196.644 |
5517.506 |
5039.594 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1747.070 |
1739.463 |
1612.275 |
|
(ii) Intangible Assets |
65.612 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
60.073 |
53.183 |
127.145 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
156.957 |
300.754 |
257.283 |
|
(e) Other Non-current assets |
2.742 |
6.788 |
9.192 |
|
Total Non-Current Assets |
2032.461 |
2100.195 |
2005.902 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
897.777 |
937.775 |
929.669 |
|
(c) Trade receivables |
1171.791 |
1485.939 |
1403.044 |
|
(d) Cash and cash
equivalents |
739.418 |
714.572 |
450.165 |
|
(e) Short-term loans and
advances |
318.128 |
256.000 |
246.588 |
|
(f) Other current assets |
37.069 |
23.025 |
4.226 |
|
Total Current Assets |
3164.183 |
3417.311 |
3033.692 |
|
|
|
|
|
|
TOTAL |
5196.644 |
5517.506 |
5039.594 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
9461.587 |
11819.631 |
10438.478 |
|
|
|
Other Income |
115.373 |
23.207 |
26.636 |
|
|
|
TOTAL (A) |
9576.960 |
11842.838 |
10465.114 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6367.272 |
8175.230 |
7347.130 |
|
|
|
Purchases of stock-in-trade |
32.689 |
39.494 |
6.756 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(52.659) |
29.252 |
(15.716) |
|
|
|
Employee benefit expense |
576.864 |
592.456 |
488.204 |
|
|
|
Other expenses |
1530.765 |
1759.466 |
1674.437 |
|
|
|
TOTAL (B) |
8454.931 |
10595.898 |
9500.811 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1122.029 |
1246.940 |
964.303 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.255 |
8.757 |
14.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1117.774 |
1238.183 |
949.824 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
225.472 |
193.610 |
152.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
892.302 |
1044.573 |
797.480 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
271.422 |
311.799 |
220.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
620.880 |
732.774 |
577.380 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2267.565 |
2072.000 |
1860.000 |
|
|
TOTAL EARNINGS |
2267.565 |
2072.000 |
1860.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
493.385 |
627.772 |
656.234 |
|
|
|
Stores & Spares |
10.000 |
45.925 |
13.323 |
|
|
|
Capital Goods |
0.954 |
33.532 |
206.224 |
|
|
TOTAL IMPORTS |
504.339 |
707.229 |
875.781 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
6.35 |
7.49 |
5.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
6.56 |
6.20 |
5.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.86 |
10.55 |
9.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.37 |
19.12 |
16.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.45 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.11 |
1.08 |
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 |
978.300 |
978.300 |
978.300 |
|
Reserves & Surplus |
1065.641 |
1341.723 |
1531.880 |
|
Net
worth |
2043.941 |
2320.023 |
2510.180 |
|
|
|
|
|
|
long-term borrowings |
152.653 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
152.653 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.075 |
0.000 |
0.000 |
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 |
10438.478 |
11819.631 |
9461.587 |
|
|
|
13.231 |
(19.950) |
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
|
10438.478 |
11819.631 |
9461.587 |
|
Profit |
577.380 |
732.774 |
620.880 |
|
|
5.53% |
6.20% |
6.56% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10027654 |
31/07/2009 * |
525,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A68980234 |
|
2 |
90084549 |
18/11/1996 |
70,000,000.00 |
DEUTSCHE BANK |
HAZARIMAL SOMANI MARG, FORT, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90084503 |
02/08/1996 |
50,000,000.00 |
ANZ GRINDLAYS BANK |
P.I.C. FORT BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90084495 |
24/07/1996 |
100,000,000.00 |
ANZ GRINDLAYS BANK |
P.I.C. FORT BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
5 |
90090308 |
14/05/1996 |
50,000,000.00 |
THE BANK OF NOVA SCOTIA |
MITTAL TOWERS; 'B' WING;, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
*Date of modification Charges
Fixed Assets:
· Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computers
· Vehicles
· Computer Software
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.63.28 |
|
|
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
64 |
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.