MIRA INFORM REPORT
|
Report No. : |
331905 |
|
Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TATA ASSET MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
Mafatlal Centre, 9th Floor, Nariman Point, Mumbai – 400021,
Maharashtra |
|
Tel. No.: |
91-22-66578282 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.03.1994 |
|
|
|
|
Com. Reg. No.: |
11-077090 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.164.062 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1994PLC077090 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT08853F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1458L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Subject is an investment management company. Which offers a range of investment solutions for financial planning and wealth creation and also advise international investors in Indian equity assets. |
|
|
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Tata Sons Limited.” It is an old and
well-built company came into existence in 1994. It has a fine track record. For the financial year ended 2014, the company possesses upstanding
operational performance and it has achieved top line growth of 26.58% across
with profitability margin of 9.9%. Rating also takes into consideration the healthy financial risk
profile of the company having strong net worth position and zero debt balance
sheet profile. Further, the company has long history of business track record, it has
maintained its business operations and achieved good market position. Trade relations are reported as fair. Business is active. Payment
terms results to be regular and as per commitment. In the view of strong financial base and healthy operational profile,
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Karl |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-66578282 |
|
Date : |
13.07.2015 |
LOCATIONS
|
Registered Office : |
Mafatlal Centre, 9th Floor, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-66578282 |
|
Fax No.: |
91-22-22613782 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 04.08.2014
|
Name : |
Mr. Aspy Dady Cooper |
|
Designation : |
Director |
|
Address : |
Quest End – 47, Cuffee Parade, Colaba Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1940 |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
00028428 |
|
|
|
|
Name : |
Mr. Arvind Sethi |
|
Designation : |
Managing Director |
|
Address : |
02 GFA, Court Green, The Laburnam, Sushank Lok, 1, Sector – 28, Gurgaon
– 122002, Haryana, India |
|
Date of Birth/Age : |
12.08.1957 |
|
Date of Appointment : |
10.12.2012 |
|
PAN No.: |
AAGPS0665M |
|
DIN No.: |
00001565 |
|
|
|
|
Name : |
Mr. Farokh Nariman Subedar |
|
Designation : |
Director |
|
Address : |
1, Wadia Building, Tardeo, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1955 |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
00026134 |
|
|
|
|
Name : |
Mr. Keki Manchersha Elavia |
|
Designation : |
Director |
|
Address : |
2A, Anand Bhavan, 36th Road, Bandra (West), Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
09.04.1946 |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
00003940 |
KEY EXECUTIVES
|
Name : |
Mr. Karl |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Nariman Darabshaw Khan |
|
Designation : |
Company Secretary |
|
Date of Birth/Age : |
09.08.1954 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AAFPK1334C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 04.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Tata Sons Limited, India |
|
11140293 |
|
Tata Investment Corporation Limited, India |
|
5265457 |
|
Tata Sons Limited Jtly F N Subendar |
|
100 |
|
Tata Sons Limited Jtly R R Shashi |
|
100 |
|
Tata Sons Limited Jtly P D Karkaria |
|
100 |
|
Tata Sons Limited Jtly S Dube |
|
100 |
|
Tata Sons Limited Jtly K R Bhagat |
|
100 |
|
Total |
|
16406250 |
Equity Share Break up (Percentage of Total Equity)
As on 04.08.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an investment management company. Which offers a range of
investment solutions for financial planning and wealth creation and also
advise international investors in Indian equity assets. |
|
|
|
|
Products : |
Not Divulged |
|
|
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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 : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
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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Auditors : |
|
|
Name : |
B S R and Associates LLLP Chartered Accountants |
|
Address : |
Lodha Excelus, 1St Floor, Apollo Mills Compound N. M. Joshi Marg, Mahalakhsmi, Mumbai:- 400011, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company : |
U99999MH1917PLC000478 |
|
|
|
|
Subsidiary company
: |
|
|
|
|
|
Fellow Subsidiary
company : |
U65991MH1995PLC087722
U85110MH2000PLC128425
U66010MH2000PLC128403
U44003MH1945PLC004403
L22210MH1995PLC084781
L67200MH1937PLC002622
U31900MH2005PLC158120
L64200MH1995PLC086354
U74899DL1995PLC066685
L29308MH1954PLC009371
U65990MH1991PLC060670
U63040MH2008PLC187559
U92120MH2001PLC130365 |
CAPITAL STRUCTURE
As on 04.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16406250 |
Equity Shares |
Rs.10/- each |
Rs.164.062
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 |
164.062 |
164.062 |
164.062 |
|
(b) Reserves & Surplus |
1403.864 |
1317.760 |
1240.190 |
|
(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) |
1567.926 |
1481.822 |
1404.252 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.245 |
|
(c) Other long term
liabilities |
191.553 |
134.815 |
86.430 |
|
(d) long-term provisions |
32.173 |
36.542 |
37.063 |
|
Total
Non-current Liabilities (3) |
223.726 |
171.357 |
123.738 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
204.341 |
198.209 |
121.339 |
|
(c) Other current liabilities |
79.337 |
49.042 |
86.157 |
|
(d) Short-term provisions |
94.777 |
86.043 |
149.916 |
|
Total
Current Liabilities (4) |
378.455 |
333.294 |
357.412 |
|
|
|
|
|
|
TOTAL |
2170.107 |
1986.473 |
1885.402 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
130.475 |
131.881 |
142.309 |
|
(ii) Intangible Assets |
21.553 |
16.083 |
7.669 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
74.565 |
74.065 |
24.065 |
|
(c) Deferred tax assets (net) |
3.280 |
3.722 |
0.000 |
|
(d) Long-term Loan and Advances |
460.058 |
469.154 |
415.981 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
689.931 |
694.905 |
590.024 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1212.487 |
1072.865 |
1135.907 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
134.040 |
111.752 |
83.388 |
|
(d) Cash and cash equivalents |
2.750 |
7.552 |
7.066 |
|
(e) Short-term loans and
advances |
130.899 |
99.399 |
69.017 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1480.176 |
1291.568 |
1295.378 |
|
|
|
|
|
|
TOTAL |
2170.107 |
1986.473 |
1885.402 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
1734.602 |
1324.573 |
1013.860 |
|
|
Other Income |
78.717 |
109.041 |
272.301 |
|
|
TOTAL
(A) |
1813.319 |
1433.614 |
1286.161 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
435.404 |
412.920 |
421.107 |
|
|
Other expenses |
1117.357 |
810.320 |
457.988 |
|
|
TOTAL
(B) |
1552.761 |
1223.240 |
879.095 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
260.558 |
210.374 |
407.066 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
260.558 |
210.374 |
407.066 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
23.994 |
22.083 |
24.137 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
236.564 |
188.291 |
382.929 |
|
|
|
|
|
|
|
Less |
TAX (H) |
64.085 |
33.943 |
39.320 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
172.479 |
154.348 |
343.609 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.51 |
9.41 |
9.12 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
185.749 |
64.924 |
(42.310) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.94 |
11.65 |
33.89 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.02 |
15.88 |
40.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.31 |
9.86 |
20.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.13 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.91 |
3.88 |
3.62 |
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 |
164.062 |
164.062 |
164.062 |
|
Reserves & Surplus |
1240.190 |
1317.760 |
1403.864 |
|
Net
worth |
1404.252 |
1481.822 |
1567.926 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
1013.860 |
1324.573 |
1734.602 |
|
|
|
30.647 |
30.956 |
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 |
1013.860 |
1324.573 |
1734.602 |
|
Profit |
343.609 |
154.348 |
172.479 |
|
|
33.89% |
11.65% |
9.94% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Fort House 221, DR D N Road, Fort, Mumbai – 400001, Maharashtra, India to the present address w.e.f. 01.07.2010
FUNDS UNDER
MANAGEMENT OPERATIONS
Tata Mutual Fund as on 31st March 2014, has thirty eight open ended schemes of which thirteen are equity schemes, two are balanced schemes, twenty two are debt schemes, one is Equity Linked Saving Scheme (ELSS) and forty eight close ended schemes of which forty five are debt schemes, one is balanced scheme and two are Equity Linked Saving Scheme (ELSS). The Average Assets Under Management for the year.
BUSINESS OUTLOOK
Equity:
Financial Year 2014 was a tale of two halves for the Indian equity markets. The markets started the year on a bullish note. However, the prospects of US Fed tapering its QE programme started a correction in June 2013. The correction turned deeper in July and August 2013 as RBI tightened liquidity and raised interest rates to defend the rupee. The sensex touched a low of 18540 in August 2013. Large cap and defensive stocks performed well during this period whereas interest rate sensitives and midcaps corrected substantially. The second half of FY14 was a different story. RBI’s special measures to attract forex inflows through FCNR (B) deposits met with very good response.
This coupled with improvement in macro parameters such as CAD, inflation and fiscal deficit led to a strong and broad based rally in equity markets. The underperformers of the first half viz. midcaps and cyclicals strongly outperformed in the second half. The rally picked further steam from February, 14 on the back of expectations of formation of a stable government at the centre. Sensex surpassed its previous high made in January 2008 and returned 18.85% during FY14 while CNX Midcap Index rose by 16.36%.
During the year, the Government continued on the fiscal consolidation path and the fiscal deficit for FY14 declined to 4.5% of GDP as against 4.9% in FY13. India’s current account deficit improved substantially to 1.2% of GDP in FY14 as against 4.7% a year ago. Apart from the curbs on gold imports, strong improvement in exports and a decline in non-oil non-gold imports contributed to the improvement in CAD. Inflation also started moderating in the second half of FY14, though levels of CPI inflation remain high. However, growth remained sluggish with FY14 GDP growing at 4.7% as against 4.5% in FY13.
Debt:
The Bond market began the year on a positive note due to policy easing by the RBI and a benign inflation outlook. The yields, however, began to rise in end-May due to apprehensions of tapering of quantitative easing by the US Federal Reserve which triggered exit of FIIs from the Indian debt market. The resulting exchange rate pressure on Rupee led to significant monetary and liquidity tightening by the RBI. The Reserve Bank hiked the marginal standing facility (MSF) rate by 200 bps and curtailing liquidity available under the liquidity adjustment facility (LAF) since July 2013. The net effect of these measures led to a significant rise in money market as well as long bond yields across the spectrum. While the 10 year benchmark yield, which had touched a lower of 7.12% in May rose to multi year high of 9.24%, the 3 month CD yield moved up from the lows of 7.75% to 11.75%. As orderly conditions were restored in the currency market by September 2013, the Reserve Bank normalized the exceptional liquidity and monetary measures by lowering the MSF rate by 150 bps in three steps. However, with a view to containing inflation that was once again rising, the policy repo rate was hiked by 75 bps in three steps. As a result of these measures, while the money market yields stabilized at the lower levels, the long bond yields remained elevated. The 10 year benchmark yield closed the year at 8.80%, (up 81 bps) compared to the levels of 7.99% on 31st March 2013.
The growth remained subdued remained below 5% for the second year in a row, though there were signs of growth bottoming out. The GDP growth for FY14 is now estimated at 4.70%, compared to 4.5% in the previous financial year, which is significantly below the potential growth of around 8%. Going forward, the growth prospects for Financial Year 2014-2015 has improved with emergence of stable government at the Centre. This is expected to hasten the policy action which is crucial to reviving Indian economy constrained by supply side bottlenecks. However, an important risk persists on agricultural front with looming risk of El-Nino conditions accompanied by below normal monsoon. The headline CPI inflation remained high during most part of the year, though the same showed signs of easing during the last quarter of the year. While the average CPI inflation for FY14 stood at 9.47% as against 10.24% during the previous year, the year end inflation stood at 8.31%. Compared to CPI, the WPI inflation remained low during the year. Average WPI inflation for FY14 stood at 5.95% compared to 7.36% in the previous year, with inflation for the month of March 2014 at 5.70%, little changed compared to previous year closing of 5.65%.
FUTURE OUTLOOK :
Equity:
The prospects for equity markets look quite promising over the next three to five years. During FY14, the steps taken by Government of India and RBI have resulted in improvement in India’s macro economic stability. The current account deficit and fiscal deficit have been contained while inflation is stabilising. Structurally, Indian equity markets have been attractive due to factors such as its demographics, balanced nature of economy, low debt levels and high savings rates of households. Economic growth is bottoming out. With a decisive election mandate, the new government can follow pro-growth policies with much more freedom than any other government in the recent past. Thus, the economic growth and earnings could see a good pick up over the next few years. Despite the recent sharp run, market valuations are reasonable and near long term averages. We urge Indian investors to increase the exposure to equities in their investment portfolio in a disciplined manner.
Debt:
The growth in the economy is likely to witness a slow-paced recovery during FY15, on stable government and concerted action to resolve structural bottlenecks. RBI projected the GDP growth in the range of 5% - 6%, with risks evenly balanced on both sides of 5.5%. Downside risk to growth arises mainly from the uncertain outlook for agriculture, given its monsoon dependency. Given the weak growth scenario and steady outlook on inflation, RBI is likely to pause on monetary tightening during the fiscal 2015, which should help the bond yields to gradually ease going forward.
SUBSIDIARY COMPANIES
The consolidated financial statements of the company include the financial information of its subsidiaries, viz., Tata Asset Management (Mauritius) Private Limited and Tata Pension Management Ltd., which are annexed herewith.
INDEX
OF CHARGES
FIXED ASSETS
Tangible Assets
- Buildings
- Office building
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible Assets
- Computer Software
- Licenses and franchise
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.63.49 |
|
|
1 |
Rs.98.19 |
|
Euro |
1 |
Rs.69.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
8 |
|
--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.