MIRA INFORM REPORT
|
Report No. : |
331267 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
FAIRFIELD ATLAS LIMITED |
|
|
|
|
Formerly Known
As : |
ATLAS GEARS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 157, Devarwadi Village, Chandgad Taluk, District
Kolhapur-416507, Maharashtra |
|
Tel. No.: |
91-2320-236605 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.02.1990 |
|
|
|
|
Com. Reg. No.: |
11-055300 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 273.205 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1990PLC055300 |
|
|
|
|
IEC No.: |
0390009831 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03477F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4439Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Automotive Transmission Gears and Gear Boxes. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “TH Licensing Inc”. USA. It is a
well-established company having fine track record. For the financial year 2014, company possesses healthy operational performance
and it has achieved decent profitability margins at 14.11%. Rating also reflects company’s healthy financial risk profile marked
by adequate net worth base and strong financial as well as managerial support
that company receives from its holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Marcel Rebello |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-22-22660003 |
|
Date : |
09.07.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Survey No. 157, Devarwadi Village, Chandgad Taluk, District
Kolhapur-416507, Maharashtra, India |
|
Tel. No.: |
91-2320-236605 |
|
Fax No.: |
91-2320-236416 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Correspondence
Office : |
3941/2, B-9, Club Road, Basavanagar, Belgaum - 590002, Karnataka,
India |
|
Tel. No.: |
91-831-2434906 |
|
Fax No.: |
91-831-2427210 |
|
|
|
|
Corporate Office
: |
202-203, Maruti Mansion, Near Old Handloom House, 17, Raghunath Dadji
Street, Fort, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22660003 / 22709025 / 26 |
|
Fax No.: |
91-22-22666164 |
|
|
|
|
Factory 2 : |
Survey No. 116 and 119, Shinoli (Budruk), Chandgad Taluka, District
Kolhapur – 416507, Maharashtra, India |
|
Tel. No.: |
91-2320-236605 / 6 |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Riad Murad Fyzee |
|
Designation : |
Director |
|
Address : |
254 4A, Residency Grandeur, 10th Main, 1st
Cross, Indiranagar, Bangalore-560038, Karnataka, India |
|
Date of Birth/Age : |
31.12.1954 |
|
Qualification : |
B.A.
Economics |
|
Date of Appointment : |
01.02.1990 |
|
DIN No.: |
00348742 |
|
|
|
|
Name : |
Mr. Jonathan Moses Mapgaonkar |
|
Designation : |
Nominee Director |
|
Address : |
Apt 1303, Rateja Tipco Heights Tower, 13th Floor Rani Sati,
Marg Malad East, Mumbai-400097, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1949 |
|
Qualification : |
B.E.
(Mech) |
|
Date of Appointment : |
28.06.1995 |
|
DIN No.: |
00348345 |
|
|
|
|
Name : |
Mr. Devanand Edwin Jacob |
|
Designation : |
Managing Director |
|
Address : |
7 Jothi Villa Rail Nagar, Sadashiv Nagar, Belgaum-590001, Karnataka,
India |
|
Date of Birth/Age : |
14.10.1968 |
|
Qualification : |
B.E.
Mechanical |
|
Date of Appointment : |
24.10.2008 |
|
PAN No.: |
AFAPJ0680E |
|
DIN No.: |
02387819 |
|
|
|
|
Name : |
Mr. Sunil Kumar Sehgal |
|
Designation : |
Director |
|
Address : |
H No G8 Friends Colony W, New Delhi-110065, India |
|
Date of Birth/Age : |
10.05.1966 |
|
Qualification : |
M.Sc.
MBA, LLM |
|
Date of Appointment : |
30.10.2012 |
|
DIN No.: |
05121461 |
|
|
|
|
Name : |
Mr. Oliver Walter Dohn |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Khurshed M. Thanawalla |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajesh Aggarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Milagros Medalla Perez |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Keshwanand Rattan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Marcel Rebello |
|
Designation : |
Secretary |
|
Address : |
12 Gonzalo Garcia Near Holy Cross High School Premier Road, Kurla
West-400070, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1940 |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AAFPR7252J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 27.09.2014
|
Equity Share
Breakup |
Percentage of
Holding |
|
Category |
|
|
Mutual
funds |
0.02 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies,
Foreign Financial Institutions, Non-resident Indian or Overseas corporate
bodies or others] |
97.87 |
|
Bodies corporate |
0.44 |
|
Other top fifty shareholders |
0.30 |
|
Others |
1.37 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Automotive Transmission Gears
and Gear Boxes. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· USA · China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
600 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
B
S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor,
Apollo Mills Compound, M Joshi Marg, Mahalakshmi, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB4734C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary of Ultimate Holding Company : |
Fairfield
Manufacturing Company Inc., USA |
|
|
|
|
Holding Company: |
TH
Licensing Inc, USA |
|
|
|
|
Ultimate Holding Company
: |
OC
Oerlikon Corporation A. G. Pfaffikon, Switzerland |
|
|
|
|
Fellow Subsidiary Company : |
·
Graziano Transmissioni India (Private)
Limited ·
Oerlikon Blazers Coating India Limited ·
Oerlikon Drive Sys t ems (SUZHOU) Company
Limited., China ·
Oerlikon Textile India Private Limited (U29261MH1994PTC076139) ·
Oerlikon IT Solutions Limited. Pfaffikon,
Switzerland |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28000000 |
Equity Shares |
Rs. 10/- each |
Rs. 280.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27320540 |
Equity Shares |
Rs. 10/- each |
Rs. 273.205
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
273.205 |
273.205 |
273.205 |
|
(b) Reserves & Surplus |
1394.249 |
875.627 |
589.188 |
|
(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) |
1667.454 |
1148.832 |
862.393 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
268.044 |
308.673 |
349.772 |
|
(b) Deferred tax liabilities (Net) |
12.996 |
7.647 |
9.483 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
24.451 |
14.965 |
10.393 |
|
Total
Non-current Liabilities (3) |
305.491 |
331.285 |
369.648 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
618.435 |
392.426 |
421.558 |
|
(c)
Other current liabilities |
169.000 |
198.334 |
163.604 |
|
(d)
Short-term provisions |
34.475 |
20.920 |
45.528 |
|
Total
Current Liabilities (4) |
821.910 |
611.680 |
630.690 |
|
|
|
|
|
|
TOTAL |
2794.855 |
2091.797 |
1862.731 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
888.985 |
646.597 |
582.788 |
|
(ii)
Intangible Assets |
2.322 |
0.778 |
0.520 |
|
(iii)
Capital work-in-progress |
24.248 |
161.927 |
22.673 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
37.720 |
65.862 |
42.084 |
|
(e)
Other Non-current assets |
3.584 |
2.000 |
1.000 |
|
Total
Non-Current Assets |
956.859 |
877.164 |
649.065 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
517.547 |
316.999 |
369.685 |
|
(c)
Trade receivables |
1089.728 |
676.058 |
671.801 |
|
(d)
Cash and cash equivalents |
64.481 |
133.955 |
77.101 |
|
(e)
Short-term loans and advances |
165.067 |
85.392 |
94.257 |
|
(f)
Other current assets |
1.173 |
2.229 |
0.822 |
|
Total
Current Assets |
1837.996 |
1214.633 |
1213.666 |
|
|
|
|
|
|
TOTAL |
2794.855 |
2091.797 |
1862.731 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3603.502 |
2293.363 |
2513.153 |
|
|
|
Other Income |
57.576 |
29.525 |
20.121 |
|
|
|
TOTAL (A) |
3661.078 |
2322.888 |
2533.274 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1837.655 |
1067.118 |
1315.899 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(123.931) |
28.419 |
(51.740) |
|
|
|
Employees benefits expense |
292.587 |
210.865 |
192.594 |
|
|
|
Other expenses |
724.191 |
464.720 |
517.303 |
|
|
|
TOTAL (B) |
2730.502 |
1771.122 |
1974.056 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
930.576 |
551.766 |
559.218 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.123 |
29.274 |
31.639 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
908.453 |
522.492 |
527.579 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
119.237 |
84.756 |
84.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
789.216 |
437.736 |
443.446 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
133.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
789.216 |
437.736 |
310.067 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2294.921 |
1248.721 |
1285.421 |
|
|
|
|
2.815 |
5.750 |
3.209 |
|
|
TOTAL EARNINGS |
2297.736 |
1254.471 |
1288.630 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
FOB
value of exports |
230.006 |
91.669 |
107.563 |
|
|
|
Development
tooling income |
85.347 |
175.204 |
90.609 |
|
|
TOTAL IMPORTS |
315.353 |
266.873 |
198.172 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
28.89 |
16.02 |
11.35 |
|
Expected Sales (2014-2015): Rs. 400.000 Million
The above information has been parted by Mr. Marcel Rebello (Finance
Controller)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
53.109 |
53.185 |
51.283 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
525.288 |
552.535 |
324.459 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
21.90 |
19.09 |
12.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
25.82 |
24.06 |
22.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.49 |
22.68 |
24.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.38 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.19 |
0.31 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24 |
1.99 |
1.92 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
273.205 |
273.205 |
273.205 |
|
Reserves & Surplus |
589.188 |
875.627 |
1394.249 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
862.393 |
1148.832 |
1667.454 |
|
|
|
|
|
|
Long-term borrowings |
349.772 |
308.673 |
268.044 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
51.283 |
53.185 |
53.109 |
|
Total
borrowings |
401.055 |
361.858 |
321.153 |
|
Debt/Equity
ratio |
0.465 |
0.315 |
0.193 |
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 |
2513.153 |
2293.363 |
3603.502 |
|
|
|
(8.746) |
57.127 |
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 |
2513.153 |
2293.363 |
3603.502 |
|
Profit |
310.067 |
437.736 |
789.216 |
|
|
12.34% |
19.09% |
21.90% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
The Company, a subsidiary
of T-H Licensing Inc., USA, (the holding company), a wholly owned subsidiary of
Fairfield Manufacturing Company Inc., USA was incorporated on 1 February 1990.
The ultimate holding company is OC Oerlikon Corporation A.G. Pfaffikon. The
Company is primarily engaged in manufacturing and selling of automotive
transmission gears and gear boxes.
PERFORMANCE
During the financial year
the Company continued its profitability trend driven by the Export business.
With increased business both from domestic customers and overseas customers
sales turnover for the financial year has been positively impacted. Increase in
export business has been possible due to steadfast support from worldwide
Oerlikon Group of companies which translated into export orders particularly
from Oerlikon Fairfield USA.
Growth in income for the
financial year increased by 57% from Rs.2322.888 Million in the previous year
to Rs.3661.078 Million in the financial year. As a result of this impressive
performance, the Net Profit after tax for the year recorded an increase at Rs.
518.622 Million as against Rs.286.439 Million in the previous financial year.
Commissioning of the Heat Treatment and other expansion facilities and increase
in dollar exchange rate contributed to the increase in revenue during the
financial year.
The Company continues with
its rigorous cost cutting measures and streamlining its production processes
which have resulted in significant savings thereby enabling the Company to
maintain profitable growth in the current challenging situation.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Office equipment
Intangible
Assets
· 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.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
IND/ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
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 |
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 |
|
62 |
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.