MIRA INFORM REPORT
|
Report No. : |
333369 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GH INDUCTION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DP No.145-147 and 158-160, 12th Main Road, SIDCO Industrial
Estate, Thirumudivakkam, Chennai – 600 044, Tamilnadu |
|
Tel. No.: |
91-44-24781042/ 43984747 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.07.1998 |
|
|
|
|
Com. Reg. No.: |
18-040909 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.000
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29309TN1998PTC040909 |
|
|
|
|
IEC No.: |
0498038998 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACG7900N |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the manufacture and servicing of
induction hardening and induction welding equipment which finds use in a
variety of industries such as Automobile, Shipping, Railways, and Aerospace,
among others. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 566000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an Indo-Spanish joint venture between the “GH Electrotermia SA” (Spain) and Mr. Chari and family in India, with the former holding 51% stake in the company. Subject is well-established company having satisfactory track record. The ratings favourably consider the experience of the management with over long established track record in induction hardening systems; and the operational linkages with GH group – one of the leading global players in the sector – which also holds 51% stake in GHI. The ratings also draw comfort from the healthy financial risk profile of company characterized by high profitability, comfortable capital structure and healthy debt protection metrics and the favourable demand prospects of induction hardening equipment. The ratings are however constrained by the moderate scale of operations of company, the high sectoral concentration of sales to the automobile industry. However, trade relations are reported as fair. Business is active. Payment are reported to be usually correct. The company can be considered good for normal business dealings at usual trade terms and condition. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
|
Rating Agency Name |
ICRA |
|
Rating |
Long-Term Bank Facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
December, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short-Term Bank Facilities: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
December, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Karthikeyan |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-24781042 |
|
Date : |
25.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
DP No.145-147 and 158-160, 12th Main Road, SIDCO Industrial
Estate, Thirumudivakkam, Chennai – 600 044, Tamilnadu, India |
|
Tel. No.: |
91-44-24781042/ 43984747 |
|
Fax No.: |
91-44-24780042/ 43984700 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rengachari Venkatachari |
|
Designation : |
Managing Director |
|
Address : |
S-25, 35th Cross Street, Besant Nagar, Chennai – 600 090,
Tamilnadu, India |
|
Date of Birth/Age : |
24.08.1964 |
|
Date of Appointment : |
02.07.2008 |
|
DIN No.: |
00597523 |
|
|
|
|
Name : |
Mr. Venkatachari Rengachari |
|
Designation : |
Director |
|
Address : |
S-25, 35th Cross Street, Besant Nagar, Chennai – 600 090,
Tamilnadu, India |
|
Date of Birth/Age : |
30.10.1942 |
|
Date of Appointment : |
02.07.2008 |
|
DIN No.: |
00597598 |
|
|
|
|
Name : |
Mr. Ambur Ramakrishnan Ramanathan |
|
Designation : |
Director |
|
Address : |
New
No.16, Old No.13, Ganagi Amman Colony, Vadapalani, Chennai – 600 026,
Tamilnadu, India |
|
Date of Birth/Age : |
23.06.1962 |
|
Date of Appointment : |
02.07.2008 |
|
DIN No.: |
00597767 |
|
|
|
|
Name : |
Mr. Jose Vicente Perez Gonzalez |
|
Designation : |
Director |
|
Address : |
14-B AVDA Escorial, LA Eliana, Valencia 46183, Spain |
|
Date of Birth/Age : |
19.03.1946 |
|
Date of Appointment : |
21.10.1998 |
|
DIN No.: |
01809434 |
|
|
|
|
Name : |
Mr. Miguel Carlos Gisbert Mezquida |
|
Designation : |
Director |
|
Address : |
339 AVDA Tamarindos, Valencia 46015, Spain |
|
Date of Birth/Age : |
04.11.1950 |
|
Date of Appointment : |
21.10.1998 |
|
DIN No.: |
01835459 |
|
|
|
|
Name : |
Mr. Vicente Martinez Juan |
|
Designation : |
Director |
|
Address : |
Carrer Remedio 6, Sagunto, Valencia, 46745S6D1, Spain |
|
Date of Birth/Age : |
08.06.1966 |
|
Date of Appointment : |
02.07.2008 |
|
DIN No.: |
02342054 |
KEY EXECUTIVES
|
Name : |
Mr. Karthikeyan |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Venkatachari Rengachari |
375000 |
25.00 |
|
Rengachari Venkatachari |
150000 |
10.00 |
|
J. Venkatesan |
75000 |
5.00 |
|
Ambur Ramakrishnan Ramanathan |
75000 |
5.00 |
|
D. Lakshminarayanan |
60000 |
4.00 |
|
GH Electrotermia S.A, Spain |
765000 |
51.00 |
|
Total |
1500000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Directors
or relatives of directors |
|
40.00 |
|
Other
top fifty shareholders |
|
9.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture and servicing of
induction hardening and induction welding equipment which finds use in a
variety of industries such as Automobile, Shipping, Railways, and Aerospace,
among others. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Turkey |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Spain |
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Terms : |
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 days) |
PRODUCTION STATUS (AS ON 31.03.2014):
|
Particulars |
Installed
Capacity |
Actual
Production (Qty.)
|
|
Induction Heating Machines for various
Applications |
N.A. |
33 |
|
Induction coil, Inductor and Inverter |
N.A. |
155 |
|
Ball screw assembly, Lovejoy coupling Hydraulic
Press and etc. Control Card, Relay Card, Power supply card IGBT, MCCB, Tripot
Machine Amplifier and etc. |
N.A. |
3245 |
|
Transformer |
N.A. |
14 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
·
Bosch ·
Delphi
Automotive Systems ·
Fairfield |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
State Bank of India, SME, Thirumudivakkam,
Chennai – 600 044, Tamilnadu, India ·
State Bank of India, Annasalai Road, Teynampet,
Chennai – 600 018, Tamilnadu, India |
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Facilities : |
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Auditors : |
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|
Name : |
Sundararajan and Associates Chartered Accountants |
|
Address : |
Romar House, Chamber D, 3rd Floor, 6/9 (Old 15/9)
Jagannathan Street, Nugambakkam. Chennai – 600 034, Tamilnadu, India |
|
Tel. No.: |
91-44-28261955/ 28234855 |
|
Mobile No.: |
91-9500031585 |
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Fax No.: |
91-44-28284855 |
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E-Mail : |
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|
Website : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS4109F |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
|
Joint Venture/ Holding Company : |
GH Electrotermia S.A, Spain |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
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 |
15.000 |
15.000 |
15.000 |
|
(b) Reserves &
Surplus |
183.006 |
175.394 |
134.994 |
|
(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) |
198.006 |
190.394 |
149.994 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
38.373 |
55.739 |
17.155 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.445 |
0.000 |
|
(c) Other long term
liabilities |
5.353 |
7.478 |
2.485 |
|
(d) Long-term provisions |
5.337 |
4.229 |
3.065 |
|
Total Non-current
Liabilities (3) |
49.063 |
67.891 |
22.705 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6.849 |
25.273 |
0.000 |
|
(b) Trade payables |
39.459 |
44.529 |
40.128 |
|
(c) Other current
liabilities |
53.181 |
54.416 |
54.954 |
|
(d) Short-term provisions |
89.401 |
66.235 |
49.345 |
|
Total Current Liabilities
(4) |
188.890 |
190.453 |
144.427 |
|
|
|
|
|
|
TOTAL |
435.959 |
448.738 |
317.126 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
197.746 |
190.759 |
58.573 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.457 |
45.033 |
|
(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) |
0.092 |
0.000 |
0.721 |
|
(d) Long-term Loan and Advances |
13.362 |
24.198 |
32.864 |
|
(e) Other Non-current
assets |
0.751 |
0.684 |
1.432 |
|
Total Non-Current Assets |
211.951 |
216.098 |
138.623 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
44.291 |
52.190 |
62.801 |
|
(c) Trade receivables |
106.996 |
113.615 |
60.780 |
|
(d) Cash and cash
equivalents |
17.377 |
34.542 |
48.812 |
|
(e) Short-term loans and
advances |
55.344 |
32.293 |
6.110 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
224.008 |
232.640 |
178.503 |
|
|
|
|
|
|
TOTAL |
435.959 |
448.738 |
317.126 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
296.952 |
316.393 |
290.312 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
296.952 |
316.393 |
290.312 |
|
|
|
(Due to market
fluctuation) |
|
||
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
230.957 |
236.706 |
210.876 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
65.995 |
79.687 |
79.436 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
8.741 |
0.262 |
0.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
57.254 |
79.425 |
79.350 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
18.102 |
6.403 |
1.794 |
|
|
|
|
|
|
|
|
|
Less |
LOSS ON
IMPAIRMENT |
0.000 |
0.000 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
39.152 |
73.022 |
77.555 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.851 |
23.906 |
25.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
26.301 |
49.116 |
51.758 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
145.506 |
110.019 |
80.986 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.630 |
4.912 |
5.176 |
|
|
|
FBT Tax charged |
0.953 |
0.000 |
0.000 |
|
|
|
Provision of Income tax |
0.187 |
0.000 |
0.000 |
|
|
|
Proposed dividend |
15.000 |
7.500 |
15.000 |
|
|
|
Dividend tax provision |
2.549 |
1.217 |
2.549 |
|
|
BALANCE CARRIED TO
THE B/S |
150.488 |
145.506 |
110.019 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
27.069 |
10.525 |
1.418 |
|
|
TOTAL EARNINGS |
27.069 |
10.525 |
1.418 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components & Raw Materials |
14.135 |
15.924 |
30.908 |
|
|
TOTAL IMPORTS |
14.135 |
15.925 |
30.908 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
17.53 |
32.74 |
34.51 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
|
|
|
|
|
The above information has been parted by Mr. Karthikeyan (Accountant).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
16.992 |
16.992 |
11.328 |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
8.86 |
15.52 |
17.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Total Income) |
(%) |
22.22 |
25.19 |
27.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.98 |
16.29 |
28.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.38 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.51 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.22 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
15.000 |
15.000 |
15.000 |
|
Reserves & Surplus |
134.994 |
175.394 |
183.006 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
149.994 |
190.394 |
198.006 |
|
|
|
|
|
|
Long-term borrowings |
17.155 |
55.739 |
38.373 |
|
Short term borrowings |
0.000 |
25.273 |
6.849 |
|
Current maturities of
long-term debts |
11.328 |
16.992 |
16.992 |
|
Total borrowings |
28.483 |
98.004 |
62.214 |
|
Debt/Equity ratio |
0.190 |
0.515 |
0.314 |
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) |
|
Total Income |
290.312 |
316.393 |
296.952 |
|
|
|
8.984 |
(6.145) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
290.312 |
316.393 |
296.952 |
|
Profit |
51.758 |
49.116 |
26.301 |
|
|
17.83% |
15.52% |
8.86% |
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 |
No |
|
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 |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
Yes |
|
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 |
NOTE:
The registered Office of the company has been shifted from 36 and 37,
SIDCO Industrial Estate, Thirumudivakkam, Chennai – 600 044, Tamilnadu, India
to the present address w.e.f. 15.05.2013.
NATURE OF OPERATION:
Subject is an Indo-Spanish joint venture, with G.H. Electrotermia S.A.,
Spain, (formerly known as G.H. Elin International S.A.), as the majority
shareholder. The company was incorporated in 1998 and is engaged in manufacture
of modern induction heating systems in India, for a wide range of industrial
applications whereas the technology knowhow is being provided by GH Group.
Induction heating systems are used for hardening of components in a variety of
industries such as automobile, steel, railway and defense among others.
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90286400 |
20/04/2015 * |
174,100,000.00 |
STATE BANK OF INDIA |
NO.65-A, G.S.T ROAD,
GUINDY, CHENNAI, CHENNAI – 600 032, TAMILNADU, INDIA |
C52874039 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Contingent liability not provided for as
under :- |
|
|
|
Claims not acknowledged as debt:- |
|
|
|
Disputed Service Tax demand |
|
|
|
-
IPR |
0.137 |
0.137 |
|
-
Catering and Van hiring Charges |
0.184 |
0.184 |
|
-
Business and Auxiliary Services |
0.478 |
0.478 |
|
Disputed Income Tax under
appeal considered to be untenable |
Nil |
Nil |
|
Sales tax demands |
|
|
|
This pertains to disputes
in respect of tax rate difference. No cash flow is expected in future. |
32.104 |
30.876 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Capital
WIP - Building
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.63.89 |
|
UK Pound |
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
49 |
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.