MIRA INFORM REPORT
|
Report No. : |
302274 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE WEST BENGAL POWER DEVELOPMENT CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
Bidyut Unnayan Bhaban, 3/C, LA-Block, Sector-III, Bidhannagar, Kolkata
– 700098, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.07.1985 |
|
|
|
|
Com. Reg. No.: |
21-089154 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41133.255 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01222WB1985PLC089154 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation of Electricity. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 153100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned company by Government of West Bengal. It is an
established company having good track record. Financial position of the
company is sound. Trade relation reported to be fair. Business appears to strike off as
per status in registrar of companies but business is active as confirmed by
Mr. Deepchand Chatterjee. Payment terms are reported to be regular and as per
commitment. In view of government support, company can be considered normal for
business dealing 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Deepchand Chatterjee |
|
Designation : |
DGM Finance |
|
Contact No.: |
91-33-23393171 |
|
Date : |
07.01.2015 |
LOCATIONS
|
Registered/ Corporate Office : |
Bidyut Unnayan Bhaban, 3/C, LA-Block, Sector-III, Bidhannagar, Kolkata
– 700098, West Bengal, India |
|
Tel. No.: |
91-33-23350571 / 23393100/ 23393200 |
|
Fax No.: |
91-33-23393286 (Directors) 91-33-23350523 (CMD) 91-33-23350516 (Planning Cell) 91-33-23350424 (IT & MIS, Civil) 91-33-23393197 (HR&A) 91-33-23393186 (F & A) 91-33-23393137 (Corporate Communication) |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant 1: |
Bakreswar Thermal Power Station P.O BkTPP Dist. Birbhum – 731104, West Bengal, India |
|
Tel. No.: |
91-346-2220214 |
|
E-Mail: |
|
|
|
|
|
Plant 2: |
Sagardighi Thermal Power Project P.O. Monigram, P.S. Sagardighi, District Murshidabad – 742237, West Bengal, India |
|
E-Mail: |
|
|
|
|
|
Plant 3: |
Bandel Thermal Power Station P.O Tribeni, District Hooghly – 712503, West, Bengal, India |
|
E-Mail: |
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|
|
|
Plant 4: |
Santaldih Thermal Power Station P.O Santaldih, Thermal Plant, District Purulia – 723146, West Bengal, India |
|
Tel. No.: |
91-3251-260222/226/227/341 |
|
Fax No.: |
91-3251-260217 |
|
E-Mail: |
|
|
|
|
|
Plant 5: |
Kolaghat Thermal Power Station P.O Mecheda, Kolaghat, District East Midnapore – 721137, West Bengal, India |
|
Tel. No.: |
91-3228-231110 |
|
Fax No.: |
91-3228-231280 |
|
E-Mail: |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Barun Kr. Ray |
|
Designation : |
IAS – Chairman and Managing Director |
|
Date of Appointment: |
23.11.2012 |
|
|
|
|
Name : |
Mr. Malay Kumar De |
|
Designation : |
IAS – Director |
|
|
|
|
Name : |
Mr. H. K. Dwivedi |
|
Designation : |
IAS – Director |
|
|
|
|
Name : |
Mr. Ardhendu Sen |
|
Designation : |
IAS (Retd.) – Director |
|
|
|
|
Name : |
Mr. N. N. Misra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Radhakrishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajat Kumar Majumder |
|
Designation : |
Director |
|
Date of Appointment: |
13.03.2013 |
|
|
|
|
Name : |
Mr. Monotosh Raychaudhuri |
|
Designation : |
Director (F and A and RA) |
|
|
|
|
Name : |
Mr. Ashis Kumar Ghoshal |
|
Designation : |
Director (Projects) |
|
|
|
|
Name : |
Mr. Syamsunder Sen |
|
Designation : |
Director (O and M) |
|
Date of Appointment: |
04.06.2013 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Bhattacharyya |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Deepchand Chatterjee |
|
Designation : |
DGM Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Equity Shares |
Number
of Shares |
|
The Governor of West Bengal |
41133145 |
|
Total |
41133145 |
BUSINESS DETAILS
|
Line of Business : |
Generation of Electricity. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
-- |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
31.03.2013 |
|
A. Licensed Capacity |
|
Not Applicable |
|
|
|
|
|
B. Installed Capacity |
|
|
|
(i) Kolaghat |
MW |
1260 |
|
(ii) Bakreswar |
MW |
1050 |
|
(iii) Bandel |
MW |
450 |
|
(iv) Santaldih* |
MW |
500 |
|
(v) Sagardighi |
MW |
600 |
|
TOTAL |
|
3860 |
Note:
*Unit No.6 of Santaldih of 250 MW capacity declared for commercial
operation w.e.f. 30.09.2011.
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
State Bank of India ·
Allahabad Bank ·
United Bank of India ·
Indian Bank ·
Indian Overseas bank ·
HDFC Bank
Limited · Punjab National bank
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
|
|
|
Statutory Auditors : |
|
|
|
|
|
Name : |
R. Kothari and Company Chartered Accountants |
|
|
|
|
Cost Auditors : |
|
|
Name : |
S.S. Sonthalia and Company Cost Accountants |
|
|
|
|
Joint Venture : |
·
Bengal EMTA Coal Mines Limited (BECML) ·
West Bengal Green Energy Development Corporation
Limited (WBGEDCL) |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.1000/- each |
Rs.50000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41133255 |
Equity Shares |
Rs.1000/- each |
Rs.41133.255 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
41133.255 |
39613.255 |
39613.255 |
|
(b) Reserves & Surplus |
12468.133 |
11151.495 |
7419.519 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.001 |
820.001 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
53601.389 |
51584.751 |
47032.774 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
63116.310 |
54703.770 |
49645.105 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2752.805 |
2596.040 |
2558.144 |
|
(d) long-term
provisions |
6271.892 |
5356.196 |
4916.661 |
|
Total Non-current
Liabilities (3) |
72141.007 |
62656.006 |
57119.910 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
10404.037 |
10269.430 |
9453.930 |
|
(b) Trade
payables |
17478.404 |
14744.602 |
6547.541 |
|
(c) Other
current liabilities |
30657.529 |
24362.355 |
22979.672 |
|
(d) Short-term
provisions |
1676.763 |
1347.444 |
396.229 |
|
Total Current
Liabilities (4) |
60216.733 |
50723.831 |
39377.372 |
|
|
|
|
|
|
TOTAL |
185959.129 |
164964.588 |
143530.056 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
85036.425 |
88731.114 |
80870.602 |
|
(ii)
Intangible Assets |
19.514 |
4.541 |
0.000 |
|
(iii)
Capital work-in-progress |
19688.222 |
7503.642 |
11159.957 |
|
(iv)
Intangible assets under development |
0.000 |
15.046 |
0.000 |
|
(b) Non-current Investments |
68.931 |
118.931 |
96.431 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
312.658 |
211.804 |
1501.663 |
|
(e) Other
Non-current assets |
29528.222 |
21925.520 |
6940.588 |
|
Total Non-Current
Assets |
134653.972 |
118510.598 |
100569.241 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
110.000 |
|
(b)
Inventories |
8200.512 |
5392.113 |
4813.903 |
|
(c) Trade
receivables |
18973.775 |
14361.022 |
6435.225 |
|
(d) Cash
and cash equivalents |
5231.124 |
2619.388 |
2264.672 |
|
(e)
Short-term loans and advances |
3426.530 |
3028.086 |
1464.471 |
|
(f) Other
current assets |
15473.216 |
21053.381 |
27872.544 |
|
Total
Current Assets |
51305.157 |
46453.990 |
42960.815 |
|
|
|
|
|
|
TOTAL |
185959.129 |
164964.588 |
143530.056 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80212.835 |
71233.901 |
58401.833 |
|
|
|
Other Income |
1105.679 |
693.289 |
492.521 |
|
|
|
TOTAL (A) |
81318.514 |
71927.190 |
58894.354 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
59549.770 |
49027.107 |
40718.223 |
|
|
|
Employees benefits expense |
3984.860 |
3188.161 |
3362.489 |
|
|
|
Other expenses |
5722.554 |
5387.888 |
5297.175 |
|
|
|
TOTAL (B) |
69257.184 |
57603.156 |
49377.887 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
12061.330 |
14324.034 |
9516.467 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6269.943 |
5600.512 |
4731.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5791.387 |
8723.522 |
4785.159 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4145.430 |
3969.287 |
3811.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1645.957 |
4754.235 |
973.684 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
329.319 |
951.217 |
194.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1316.638 |
3803.018 |
779.624 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9,949.621 |
6,538.341 |
5,884.362 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Reserve for Unforeseen
Exigencies |
0.000 |
280.847 |
125.645 |
|
|
|
Transfer to Reserve for Interest Earned on
Investment of Fund |
66.702 |
110.891 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
11,199.557 |
9,949.621 |
6,538.341 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares and Other Items |
53.473 |
103.660 |
91.644 |
|
|
TOTAL IMPORTS |
53.473 |
103.660 |
91.644 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
32.65 |
96.00 |
20.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.64 |
5.34 |
1.33 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.04 |
20.11 |
16.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.99 |
3.02 |
0.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.09 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.37 |
1.26 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.92 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
39613.255 |
39613.255 |
41133.255 |
|
Reserves & Surplus |
7419.519 |
11151.495 |
12468.133 |
|
Share Application money
pending allotment |
0.000 |
820.001 |
0.001 |
|
Net
worth |
47032.774 |
51584.751 |
53601.389 |
|
|
|
|
|
|
long-term borrowings |
49645.105 |
54703.770 |
63116.310 |
|
Short term borrowings |
9453.930 |
10269.430 |
10404.037 |
|
Total
borrowings |
59099.035 |
64973.200 |
73520.347 |
|
Debt/Equity
ratio |
1.257 |
1.260 |
1.372 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
58401.833 |
71233.901 |
80212.835 |
|
|
|
21.972 |
12.605 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
58401.833 |
71233.901 |
80212.835 |
|
Profit |
779.624 |
3803.018 |
1316.638 |
|
|
1.33% |
5.34% |
1.64% |
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 |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loan from Government of West Bengal |
|
|
|
For Bakreswar
Project Unit I to III |
5957.994 |
7214.707 |
|
For Bakreswar
Project IV to V |
11512.994 |
12419.129 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
From Government
of West Bengal |
600.000 |
600.000 |
|
Total |
18070.988 |
20233.836 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from New Secretariat Buildings, 6th Floor, Block-B, 1, Kiran Shankar Roy Road, Kolkata – 700001, West Bengal, India to the present address w.e.f. 2009.
REVIEW OF OPERATION
Gross revenue during the year is Rs. 81318.400 Millions against Rs. 719.271 Millions in the previous year 2011-12. The company earned profit before tax of Rs. 1645.900 Millions for the financial year 2012-13 as against Rs. 4754.200 Millions in the previous year. The profit after tax for the FY 2012-13 is Rs. 13.166 Millions against Rs. 3803.000 Millions in the previous year. The net profit for the year 2012-13 is after consideration of Rs. 8499.100 Millions receivable against claim for Fuel Cost Adjustment and Rs. 1453.400 Millions receivable against claim fro Fixed Cost Adjustment as per WBERC regulation. The corresponding expenditure during 2012-13 and 2011-12 are Rs. 79672.500 Millions and Rs. 67172.900 Millions respectively.
During the year there were six units of 210 MW each at Kolaghal Thermal Power Station, Five Units of 210 MW each at Bakreswar Thermal Power Station, Four Units of 60 MW each and 1 Unit of 210 MW at Bandel Thermal Power Station, Two Units of 250 MW at Santaldih Thermal Powe Station and Two Units of 300 MW each at Sagardighi Thermal Power Station, in operation.
FIXED ASSETS
·
Land
·
Roads, Drainage,
Reservoir
·
Building – Main Plant
·
Building - Others
·
Other Civil Works
·
Water Supply Drainage and
Sewerage
·
Reservoir and Dam
·
Vehicles and Speed Boat
·
Transmission System
·
Transformer Substation
·
Water Intake and Plant
Water System
·
B O B R Wagon
·
Electrification and
Signaling off
·
Railway track
·
Railway sliding
·
Plant and Machinery
·
Communication system
·
Electrical Installation
·
Air Conditioning system
·
Capital spares
·
Simulator Training
Package
·
Wagon Tripler
·
Hydrogen Generation Plant
·
Office Complex
·
Leasehold land
·
Building
·
Furniture
·
Office equipment
·
Vehicles
·
Roads and Drainage
·
Guest house
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.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
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 |
|
57 |
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.