MIRA INFORM REPORT
|
Report No. : |
311418 |
|
Report Date : |
14.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
TATA LOCKHEED MARTIN AEROSTRUCTURES LIMITED |
|
|
|
|
Formerly Known
As : |
TATA AEROSTRUCTURES LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 64, Unit No. 1, Building No. 9, , 6th Floor, Raheja Mindspace, Madhapur, Hyderabad – 500081, Telangana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.04.2010 |
|
|
|
|
Com. Reg. No.: |
077940 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1646.945 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29268TG2010PLC077940 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT5968N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacturing and selling of defense aircraft structural articles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of TATA Advance Systems Limited. It is an established company having satisfactory track. The company has incurred some accumulated losses however, company is
operating on its own fund. The company also receives strong support from its
holding company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
|
Rating Agency Name |
INDIA |
|
Rating |
Long term issuer rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
4.04.2014 |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
Survey No. 64, Unit No. 1, Building No. 9, , 6th Floor, Raheja Mindspace, Madhapur, Hyderabad – 500081, Telangana, India |
|
Tel. No.: |
91- 40-27131751 / 66440601 / 66440602 |
|
Fax No.: |
91- 40-27131754 / 66440609 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No. 255, Adibatla Village, Ibrahimpatnam, Mandal, Ranga Reddy District, Hyderabad – 501510, Telangana, India |
|
|
|
|
Branch Office : |
2nd Floor, Gowra Trinity, 1-8-371, Chiran Fort Lane, S P Road, Opposite USA Consulate, Begumpet, Hyderabad – 500016, Telangana, India |
DIRECTORS
As on 12.08.2014
|
Name : |
Ramadorai Subramanian |
|
Designation : |
Director |
|
Address : |
Flat No.1, 1st Floor, Wyorming, Little Gibbs Road, Malabar
Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1944 |
|
Date of Appointment : |
13.07.2011 |
|
DIN No.: |
00000002 |
|
|
|
|
Name : |
Prakash Manjanath Telang |
|
Designation : |
Director |
|
Address : |
313, 13th Floor, Samudra Mahal, DRAB Road, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
21.06.1947 |
|
Date of Appointment : |
10.08.2011 |
|
DIN No.: |
00012562 |
|
|
|
|
Name : |
Sukaran Singh |
|
Designation : |
Director |
|
Address : |
Flat No.101, Gitanjali Gardens, 1st Floor, 68 E Nepean Sea
Road, Rungta Lane, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1969 |
|
Date of Appointment : |
05.04.2010 |
|
DIN No.: |
01485745 |
|
|
|
|
Name : |
Michael Edward Cain |
|
Designation : |
Director |
|
Address : |
1291, Private Road 4011, Decatur TX 76234, USA |
|
Date of Birth/Age : |
03.09.1962 |
|
Date of Appointment : |
18.02.2011 |
|
DIN No.: |
03377786 |
|
|
|
|
Name : |
Leonard Mccray Hicks |
|
Designation : |
Director |
|
Address : |
9836, Sloane Street Orlando, Florida 32827, USA |
|
Date of Birth/Age : |
22.05.1958 |
|
Date of Appointment : |
25.03.2013 |
|
DIN No.: |
06529171 |
KEY EXECUTIVES
|
Name : |
Ravi Gupta |
|
Designation : |
Manager |
|
Address : |
11-13-81/3, Road nO.12, Vasvi Colony, Near Astalakshmi Temple, Saroor
Nagar, Hyderabad – 500035, Telangana, India |
|
Date of Birth/Age : |
08.09.1978 |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AHWPG4384Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Tata Advanced Systems Limited, India |
|
1218733 |
|
Tata Advanced Systems Limited, India Jointly with Sukaran Singh |
|
1 |
|
Tata Advanced Systems Limited, India Jointly with S R Venkatesan |
|
1 |
|
Lockheed Martin Aeroframe Corporation, USA |
|
428206 |
|
Tata Advanced Systems Limited, India Jointly with Masood
Hussainy |
|
1 |
|
Tata Advanced Systems Limited, India Jointly with AVS Prasad |
|
1 |
|
Tata Advanced Systems Limited, India Jointly with Tapas Mitra |
|
1 |
|
Tata Advanced Systems Limited, India Jointly with Praveen Kumar |
|
1 |
|
Total |
|
1646945 |
Equity Share Break up (Percentage of Total Equity)
As on 12.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
26.00 |
|
Bodies corporate |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing and selling of defense aircraft structural articles. |
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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 : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Available |
|
|
|
|
Customers : |
Not Available |
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Kotak Mahindra Bank Limited |
|
|
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
1-8-384 and 385, 3RD Floor, Gowra Grand, Sardar Patel Road ,Secunderabad, Telangana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company : |
Tata Advanced Systems Limited U72900TG2006PLC077939 |
|
|
|
|
Ultimate Holding
company : |
Tata Sons Limited U99999MH1917PLC000478 |
|
|
|
|
Fellow Subsidiary
company : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,650,000 |
Equity Shares |
Rs.1000/- each |
Rs.1650.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,646,945 |
Equity Shares |
Rs.1000/- each |
Rs.1646.945
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 |
1646.945 |
1646.945 |
1646.945 |
|
(b) Reserves &
Surplus |
(527.108) |
(450.536) |
(247.655) |
|
(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) |
1119.837 |
1196.409 |
1399.290 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.547 |
6.414 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.727 |
12.433 |
3.760 |
|
Total Non-current
Liabilities (3) |
8.727 |
12.980 |
10.174 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
250.709 |
243.988 |
134.602 |
|
(c) Other current
liabilities |
1140.864 |
841.196 |
316.843 |
|
(d) Short-term provisions |
2.117 |
0.509 |
1.781 |
|
Total Current Liabilities
(4) |
1393.690 |
1085.693 |
453.226 |
|
|
|
|
|
|
TOTAL |
2522.254 |
2295.082 |
1862.690 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
658.972 |
749.144 |
689.215 |
|
(ii) Intangible Assets |
19.868 |
33.451 |
28.886 |
|
(iii) Capital
work-in-progress |
16.557 |
2.406 |
25.939 |
|
(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) |
14.096 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.776 |
4.535 |
81.720 |
|
(e) Other Non-current
assets |
10.763 |
9.912 |
9.112 |
|
Total Non-Current Assets |
724.032 |
799.448 |
834.872 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.067 |
340.614 |
669.173 |
|
(b) Inventories |
1164.063 |
884.462 |
298.332 |
|
(c) Trade receivables |
253.286 |
61.329 |
0.000 |
|
(d) Cash and cash
equivalents |
182.611 |
72.095 |
7.787 |
|
(e) Short-term loans and
advances |
135.747 |
114.157 |
52.526 |
|
(f) Other current assets |
62.448 |
22.977 |
0.000 |
|
Total Current Assets |
1798.222 |
1495.634 |
1027.818 |
|
|
|
|
|
|
TOTAL |
2522.254 |
2295.082 |
1862.690 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1411.328 |
420.961 |
0.000 |
|
|
Other Income |
63.389 |
39.807 |
81.125 |
|
|
TOTAL (A) |
1474.717 |
460.768 |
81.125 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
488.450 |
445.297 |
207.283 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
237.666 |
(369.833) |
(260.131) |
|
|
Employees benefits
expense |
221.031 |
143.909 |
81.422 |
|
|
Other expenses |
492.845 |
332.142 |
240.928 |
|
|
TOTAL (B) |
1439.992 |
551.515 |
269.502 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
34.725 |
(90.747) |
(188.377) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.687 |
0.000 |
0.505 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.038 |
(90.747) |
(188.882) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
125.253 |
118.002 |
29.672 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(91.215) |
(208.749) |
(218.554) |
|
|
|
|
|
|
|
Less |
TAX (I) |
(14.643) |
(5.868) |
6.414 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
(76.572) |
(202.881) |
(224.968) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(450.536) |
(247.655) |
(22.687) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(527.108) |
(450.536) |
(247.655) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1048.487 |
799.650 |
221.382 |
|
|
TOTAL EARNINGS |
1048.487 |
799.650 |
221.382 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
916.478 |
374.228 |
59.078 |
|
|
Capital Goods |
8.004 |
19.494 |
78.406 |
|
|
TOTAL IMPORTS |
924.482 |
393.722 |
137.484 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(46.49) |
(123.19) |
(136.60) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.43) |
(48.19) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.46 |
(21.56) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.66) |
(9.11) |
(11.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
(0.17) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.38 |
2.27 |
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 |
1646.945 |
1646.945 |
1646.945 |
|
Reserves & Surplus |
(247.655) |
(450.536) |
(527.108) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1399.290 |
1196.409 |
1119.837 |
|
|
|
|
|
|
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 |
81.125 |
460.768 |
1474.717 |
|
|
|
467.973 |
220.056 |
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 |
81.125 |
460.768 |
1474.717 |
|
Profit/Loss |
(143.843) |
(163.074) |
(13.183) |
|
|
(177.31%) |
(35.39%) |
(0.89%) |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS AND
PROGRESS MADE
The contract entered between TATA Lockheed Martin Aerostructures Limited and Lockheed Martin Aerostructures is guided by Federal Aviation Regulations and the proposal and Price are to be FAR 15 compliant. The company during the financial year converted the contract from Not to Exceed price to a Firm Fixed Price Contract with no reduction in contract price. During the FY 2013-14 TLMAL witnessed its first export of Empennage and in addition to ramping up successfully the company delivered 4 units of Empennage and 7 units of Central Wing Box which met the targets as per the Board approved Annual Operating Plan (AOP).
Feedback from LM and the DCMA customer for the 1st article units has been very positive and all anomalies identified are in worked with defined resolutions.
Work in progress for EMP is on track with the shop physically in work thru unit 10 as projected. At CWB front the work in progress of 3 additional units should support ahead of schedule delivery for units in the next AOP.
TLMAL Empennage deliveries increase to 13 for the next year (14-15) along with CWB at 8 units as planned. Necessary hiring and TOP/ Kaizen events have been held to ensure target span times will be met for ramp up to 24 units per year 15-16 and on based on current contract definition.
TLMAL completed tooling as planned and for both the CWB and Empennage performed as committed to the Board of Directors both financially and according to schedule. The majority of the tooling has been completed as defined by LMTASIC and the revenue has been recognized by the financial team.
On July the 29, 2013 an unfortunate incident occurred in the Horizontal FAJ 1 laydown area in which the unit was damaged and later determined to be scrapped. An insurance claim was filed for Rs.56.800 Million and Rs. 49.600 Million of claims was cleared by the Insurance. TLMAL has an advance payment of 17.500 Million and is expecting the balance of claim to be settled during the 1st quarter of year 14-15.
The company has managed its cash gaps by raising funds for operational purposes and to meet working capital requirements through Debt facilities as and when required.
The Company has a good mix of highly skilled and semi-skilled workforce. As the production phase is in ramp up stage the company has been able to recruit quality manpower and provide them the necessary trainings through class room and on job training. TLMAL gives high priority to employee engagement and welfare. Also, TLMAL has always given highest priority to safety measures by pro-actively identifying the un-safe conditions and initiating the corrective and preventive actions. Furthermore, TLMAL has provided training to all its employees on safety to report the near miss incidents and a safety committee which was formed has conducted the HAZOP study. During the current financial year TLMAL floated its own Gratuity Trust TATA Lockheed Martin Aerostructures Employee Group Gratuity Trust for the benefits of its employees.
TLMAL has always given priority to corporate governance and to ensure highest level of compliance a regulatory team was formed and the company’s regulatory compliance standards including the documentation was verified and certified to be meeting the requirements of the relevant statutory bodies and adherence to the laws of the country.
TLMAL continued to receive high level visits including Chairman Emeritus Mr. Ratan Tata and Mr. P Chidambaram- The honorable Finance Minister of India during the year FY 13-14.
NOTE :
The registered office of the company has been shifted from Plot No. 21, 22 and 23, Pragathi Industrial Area, Kushaiguda, ECIL Post, Hyderabad – 500062, Andhra Pradesh, India to the present address w.e.f. 18.12.2013.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2014 |
31.03.2013 |
|
|
Rs. In Million |
|
|
Estimated amount of contracts remaining to be executed on capital account and not provided for [Net of advances Rs. Nil (2012-13:Rs. 0.501 Million)) |
1.934 |
52.710 |
|
Guarantees issued by banks* |
19.310 |
9.310 |
* Guarantees
represent:
- Rs. 18.000 Million (2012-13: Rs. 8.000 Million) provided to Customs and Excise authorities towards fulfillment of terms and conditions under the agreement for exemption of Customs duty under 100% ECU Scheme.
- Rs. 0.810 Million (2012-13: Rs. 0.810 Million) provided to AP Fire Department towards fulfillment of terms and conditions under the agreement for purchase of fire safety equipment.
- Rs. 0.500 Million (2012-13: Rs. 0.500 Million) provided to AP Pollution Control Board towards fulfillment of terms and conditions under the agreement for protection of environment and public health.
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.62.67 |
|
|
1 |
Rs.93.16 |
|
Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
43 |
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.