MIRA INFORM REPORT
|
Report No. : |
316544 |
|
Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
B FOURESS PRIVATE LIMITED (w.e.f. 03.03.2010) |
|
|
|
|
Formerly Known
As : |
BOVING FOURESS Private LIMITED (w.e.f. 06.12.2007) BOVING FOURESS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.2, Phase – II, Peenya Industrial Area, Bangalore – 560058,
Karnataka |
|
Tel. No.: |
91-80-27971641 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
01.03.1985 |
|
|
|
|
Com. Reg. No.: |
08-006747 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.757 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119KA1985PTC006747 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRB04102A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB6220A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Hydraulic Turbines and Setting Up Hydro Power Project.
|
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “IDBI Trusteeship Services limited”. It is
an established company having satisfactory track record. For the financial year ended 2014, the company has incurred loss from
its operational activities. However, the rating takes into consideration strong financial and
managerial support the company receives from its parent company and decent net
worth position of the company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of strong parent company support, the company can be
considered 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 |
ICRA |
|
Rating |
Cash credit: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
February 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund based limits: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit. |
|
Date |
February 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ajith T R |
|
Designation : |
Project Manager |
|
Contact No.: |
91-9902715715 |
|
Date : |
30.04.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 2, Phase – II, Peenya Industrial Area, Bangalore – 560058,
Karnataka, India |
|
Tel. No.: |
91-80-27971641 |
|
Mobile No: |
91-9902715715 (Mr. Ajith T R) |
|
Fax No.: |
91-80-28395176 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.7, KIADB Industries Area, Hoskote – 562114, Bangalore, India |
|
Tel. No.: |
91-80-27971641 |
|
Fax No.: |
91-80-27971455 |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Sameer Sadanand Shetty |
|
Designation : |
Managing Director |
|
Address : |
11-D, IL Palazzo, Little Gibbs Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
24.06.1970 |
|
Date of Appointment : |
01.04.1996 |
|
PAN No.: |
AAIPS2479M |
|
DIN No.: |
01306426 |
|
|
|
|
Name : |
Mrs. Smitha Hari Prasad Shetty |
|
Designation : |
Director |
|
Address : |
777, 100 Feet Road, Hal 2nf Stage, Indira Nagar, Bangalore – 560008,
Karnataka, India |
|
Date of Birth/Age : |
01.12.1956 |
|
Date of Appointment : |
02.09.2007 |
|
DIN No.: |
01872542 |
|
|
|
|
Name : |
Mrs. Sucharita Ramcrishna Hegde |
|
Designation : |
Director |
|
Address : |
No. 52, Suraiya Apartments, Pochkhanwala Road, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Date of Appointment : |
02.09.2007 |
|
DIN No.: |
01284570 |
KEY EXECUTIVES
|
Name : |
Mr. Ajith T R |
|
Designation : |
Project Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hari Prasad Shetty |
|
30 |
|
Chandralekha A Majmudar |
|
30 |
|
Fouress Investments Private Limited, India |
|
300000 |
|
IDBI Trusteeship Services, India |
|
775590 |
|
Total |
|
1075650 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Government
Companies |
72.00 |
|
Bodies corporate |
28.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hydraulic Turbines and Setting Up Hydro Power Project.
|
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
Spain |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and credit (30,60,90 Days) |
||||
|
|
|
||||
|
Purchasing : |
Cash and credit (30,60,90 Days) |
PRODUCTION STATUS (AS ON 31.03.2014)
|
Project |
Licensed |
Installed |
Production |
|
Mini Hydro Turbines and Auxiliaries up to 40 MW Unit Capacity. |
40 MW p.a. Maximum Annual Capacity 40 sets p.a. |
15 Sets |
20 Nos. |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
IDBI Bank Limited, 102, Shakthi Comforts Tower, K H Road, Bangalore - 560027, Karnataka, India
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Gowthama and Company Chartered Accountants |
|
Address : |
No. 53/57, 41st Cross, East End C Main Road, 9th
Block , Jayanagar Bangalore – 560069, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AANPG9369B |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates: |
Fouress Engineering (India) Limited, India [U74210MH1971PLC015196] |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10756500 |
Equity Shares |
Rs.10/- each |
Rs. 10.757
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 |
10.757 |
10.757 |
10.757 |
|
(b) Reserves & Surplus |
248.907 |
282.642 |
268.011 |
|
(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) |
259.664 |
293.399 |
278.768 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.132 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1.132 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.053 |
17.001 |
10.163 |
|
(b) Trade payables |
69.457 |
354.940 |
91.818 |
|
(c) Other current liabilities |
821.902 |
733.561 |
837.148 |
|
(d) Short-term provisions |
0.023 |
24.599 |
23.410 |
|
Total
Current Liabilities (4) |
892.435 |
1130.101 |
962.539 |
|
|
|
|
|
|
TOTAL |
1153.231 |
1423.500 |
1241.307 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
46.623 |
52.718 |
39.901 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
9.774 |
|
(b) Non-current Investments |
0.177 |
0.173 |
0.170 |
|
(c) Deferred tax assets (net) |
3.628 |
2.178 |
2.302 |
|
(d) Long-term Loan and Advances |
84.571 |
90.752 |
53.935 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
134.999 |
145.821 |
106.082 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
135.045 |
61.755 |
99.094 |
|
(c) Trade receivables |
586.960 |
961.167 |
589.717 |
|
(d) Cash and cash equivalents |
178.646 |
144.349 |
327.600 |
|
(e) Short-term loans and
advances |
111.822 |
99.606 |
112.684 |
|
(f) Other current assets |
5.759 |
10.802 |
6.130 |
|
Total
Current Assets |
1018.232 |
1277.679 |
1135.225 |
|
|
|
|
|
|
TOTAL |
1153.231 |
1423.500 |
1241.307 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
1626.108 |
1726.281 |
1442.479 |
|
|
|
|
|
|
|
|
EXPENSES |
1587.231 |
1655.670 |
1367.806 |
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION ( |
38.877 |
70.611 |
74.673 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
27.876 |
22.042 |
35.543 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.001 |
48.569 |
39.13 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
9.526 |
10.295 |
7.508 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.475 |
38.272 |
31.622 |
|
|
|
|
|
|
|
|
PRIOR
PERIOD EXPENSES |
48.615 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
AFTER ADJUSTING PREVIOUS YEAR EXPENSES |
(47.140) |
38.272 |
31.622 |
|
|
|
|
|
|
|
|
PROVISION
FOR TAXATION |
0.000 |
10.900 |
10.55 |
|
|
|
|
|
|
|
|
DEFERRED
TAX |
0.000 |
0.124 |
0.000 |
|
|
|
|
|
|
|
|
DEFERRED
TAX |
1.450 |
0.000 |
0.188 |
|
|
|
|
|
|
|
|
WEALTH
TAX |
0.022 |
0.037 |
0.038 |
|
|
|
|
|
|
|
|
(EXCESS)/SHORT PROVISION OF INCOME TAX OF EARLIER YEAR |
11.977 |
(0.004) |
0.098 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(33.735) |
27.215 |
20.748 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
200.793 |
191.605 |
190.048 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
5.443 |
6.688 |
|
|
Dividend |
0.000 |
10.757 |
10.757 |
|
|
Tax on Dividend |
0.000 |
1.828 |
1.745 |
|
|
Balance
Carried to the B/S |
167.058 |
200.793 |
191.605 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
289.838 |
266.902 |
|
|
TOTAL
IMPORTS |
NA |
289.838 |
266.902 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.14) |
35.58 |
1341.03 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.39 |
4.09 |
5.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.13 |
2.69 |
2.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.13 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.06 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.13 |
1.18 |
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 |
10.757 |
10.757 |
10.757 |
|
Reserves & Surplus |
268.011 |
282.642 |
248.907 |
|
Net
worth |
278.768 |
293.399 |
259.664 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1.132 |
|
Short term borrowings |
10.163 |
17.001 |
1.053 |
|
Total
borrowings |
10.163 |
17.001 |
2.185 |
|
Debt/Equity
ratio |
0.036 |
0.058 |
0.008 |
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 |
1442.479 |
1726.281 |
1626.108 |
|
|
|
19.675 |
(5.803) |
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 |
1442.479 |
1726.281 |
1626.108 |
|
Profit |
20.748 |
27.215 |
(33.735) |
|
|
1.44% |
1.58% |
(2.07%) |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
Yes |
|
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
The company has secured orders worth Rs.828.100 Million and there is a carried forward order of Rs. 4408.200 Million for the execution in the coming years. The company is continuously taking its efforts in bringing down the cost by Value Engineering to remain competitive in the global market.
The directors would further like to inform that due the slowdown in the economy during this period, the company was not able to achieve the targeted turnover and the same had come down by 6% when compared to the previous financial year. This has also resulted in the Company incurring a loss in the said Financial Year.
OUTLOOK FOR THE YEAR
2015
As envisaged in their earlier report the outlook for the next financial year is better than the expected as new countries are being added in its map. The company is setting up small hydropower plants in 9 countries for its customers including Gautemala a new country. The company could retain its leadership position in Small Hydro Business despite of increased competition and would be continuing to do so in the coming years. The Company is also looking up of appointing Representatives in different countries that would help us in tapping the hydro markets.
Also the company is focusing on outsourcing to meet the excess capacity requirement due to increase in orders and this will help to increase the top line without any further capital expenses.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10150811 |
20/01/2014 * |
520,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, MA |
B96072442 |
|
2 |
10104607 |
11/04/2008 |
225,000,000.00 |
IDBI BANK LIMITED |
IDBI HOUSE,NO.58, MISSION
ROAD, BANGALORE, KARNATA |
A39264023 |
|
3 |
90195586 |
19/09/2001 |
5,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, RESIDENCT ROAD, BANGAL |
- |
|
4 |
90195453 |
02/02/1999 |
11,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, RESIDENCE ROAD, BANGAL |
- |
|
5 |
90195409 |
02/02/1998 |
32,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI HOUSE NO 58 MISSION
ROAD, BANGALORE, KARNATAK |
- |
|
6 |
90195259 |
31/05/1995 |
15,000,000.00 |
IDBI |
IDBI TOWER, COLABA,
BOMBAY, MAHARASHTRA - 400005, |
- |
|
7 |
90189393 |
26/02/1995 |
27,980,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, RESIDENCY ROAD, BANGLO |
- |
|
8 |
90195170 |
21/03/2014 * |
870,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH,, RESIDENCY PLAZA, RESI |
C02490951 |
|
9 |
90193596 |
26/08/1992 * |
8,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, RESIDENCE ROAD, BANGAL |
- |
|
10 |
90195038 |
03/05/1991 |
28,000,000.00 |
STATE BANK OF INDIA |
PEENYA INDUSTRIAL
ESTATE BRANCH, BANGLORE, KARNATA |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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.63.20 |
|
|
1 |
Rs.91.01 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
45 |
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.