MIRA INFORM REPORT
|
Report No. : |
322256 |
|
Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
INZI CONTROLS INDIA LIMITED (w.e.f 15.09.2006) |
|
|
|
|
Formerly known
as : |
PENTABAEWHA AUTO PARTS LIMITED |
|
|
|
|
Registered
Office : |
72, Bangalore Highway, Irrungattukottai Village, Sriperrumbudur Taluk,
Kancheepuram – 602105, Tamil Nadu |
|
Tel. No.: |
91-9750198600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.06.1997 |
|
|
|
|
Com. Reg. No.: |
18-038455 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.450.726 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65933TN1997FLC038455 |
|
|
|
|
IEC No.: |
0497008483 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP5832C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Market auto parts and equipments, includes
thermostat, water temp control assembly, themo switch, adjustable electronic
themstat, braking parts, air cleaner etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of a foreign registered company having
moderate track. Management has reported consecutive losses from its operations during
FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of the aforesaid, the company can be considered for business
dealings with caution. |
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 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Mohan |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-9003111581 |
|
Date : |
14.05.2015 |
LOCATIONS
|
Registered Office : |
72, Bangalore Highway, Irrungattukottai Village, Sriperrumbudur Taluk,
Kancheepuram – 602105, Tamil Nadu, India |
|
Tel. No.: |
91-44.37189529 / 25 / 26 |
|
Mobile No.: |
91-9003111581 (Mr. Mohan) |
|
Fax No.: |
Not Divulged |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
71 & 72, Bangalore Highway, Irrungathloth Sriperumbudur- 602105,
Tamil Nadu, India |
|
Tel No.: |
91-9965595022 |
|
Fax No.: |
91-44-37189519 |
DIRECTORS
As on : 25.09.2014
|
Name : |
Mr. Wonuk Hurwonuk |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
M 301 Atrium Flats, No.22 Kalakshetra Road Thiruvanmiyur,
Chennai, 600041, Tamil Nadu, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1962 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
07.01.2014 |
|||||||||||||||||||||||||||
|
DIN No.: |
00704267 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Jung Kooryong |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Ju Gpmg Apartment, 402 - 219, 1868, Jung Wang-Dong, Shi Hung,
Gyeong Gi Do, 429450, , Korea, Republic Of |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.07.1945 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.03.2006 |
|||||||||||||||||||||||||||
|
DIN No.: |
02554493 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Lee Chelhee |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
2376, 163 - 1 An Amj, Sung Buk Gu, Seoul, 136705, , Korea,
Republic Of |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.06.1968 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.03.2006 |
|||||||||||||||||||||||||||
|
DIN No.: |
02554548 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Kang Chul Jung |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
1353-31, Gueori Oedongeup, Gyungju Shi, Kyumgbuk Do, 980823, ,
Korea, Republic Of |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.07.1961 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
12.06.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
02683327 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Mohan |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Inzi Controls Company Limited - Korea |
|
4794612 |
|
Mr. Jung Koo – Ryong - Korea |
|
1535230 |
|
Mrs. Chong Hye – Sung - Korea |
|
1535229 |
|
Mrs. Kim OCK Whan |
|
100 |
|
Mr. Chung Jang Hwan |
|
1535229 |
|
Mrs. Lim Mi Hyeon |
|
100 |
|
Mr. Lee Chel-Hee |
|
100 |
|
Total |
|
9400600 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Inzi Controls Company Limited - Korea |
|
22295000 |
|
Inzi Display Company Limited |
|
13377000 |
|
Total |
|
35672000 |
Equity Share Break up (Percentage of Total Equity)
As on : 25.09.2014
|
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 |
51.00 |
|
Directors or relatives of Directors |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Market auto parts and equipments, includes
thermostat, water temp control assembly, themo switch, adjustable electronic themstat,
braking parts, air cleaner etc. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and L/C |
||||
|
|
|
||||
|
Purchasing : |
Cash and L/C |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
M/s.Sukumar and Associates Chartered Accountants |
|
Address : |
#29 Devadi Street (Off Kutchery Road) My lapore ChennaI - 600 004, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AANFS9673C |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Holding Company
: |
INZI Controls Co. Limited - Korea |
|
|
|
|
Others related parties : |
|
|
|
|
|
Associates : |
Worldbestech Cool- Panel (India) Private Limited U31907PN2007FTC129900 |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9500000 |
Equity Shares |
Rs.10/- each |
Rs.95.000 Million |
|
43000000 |
Preference Shares |
Rs.10/- each |
Rs.430.000 Million |
|
|
|
|
Rs.525.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9400600 |
Equity Shares |
Rs.10/- each |
Rs.94.006
Million |
|
35672000 |
Preference Shares |
Rs.10/- each |
Rs.356.720
Million |
|
|
|
|
Rs.450.726
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 |
450.726 |
450.726 |
450.726 |
|
(b) Reserves & Surplus |
13.916 |
(155.602) |
(64.371) |
|
(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) |
464.642 |
295.124 |
386.355 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
417.265 |
366.145 |
318.839 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
8.098 |
|
(d) long-term provisions |
0.000 |
5.355 |
0.000 |
|
Total
Non-current Liabilities (3) |
417.265 |
371.500 |
326.937 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
352.331 |
422.301 |
183.522 |
|
(b) Trade payables |
612.264 |
575.191 |
504.064 |
|
(c) Other current liabilities |
202.932 |
198.739 |
187.835 |
|
(d) Short-term provisions |
14.367 |
3.385 |
2.482 |
|
Total
Current Liabilities (4) |
1181.894 |
1199.616 |
877.903 |
|
|
|
|
|
|
TOTAL |
2063.801 |
1866.240 |
1591.195 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
969.585 |
728.961 |
706.499 |
|
(ii) Intangible Assets |
10.471 |
2.166 |
2.546 |
|
(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 |
0.262 |
0.262 |
0.262 |
|
(c) Deferred tax assets (net) |
95.332 |
52.774 |
9.141 |
|
(d) Long-term Loan and Advances |
97.502 |
90.851 |
74.187 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1173.152 |
875.014 |
792.635 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
186.803 |
238.486 |
218.421 |
|
(c) Trade receivables |
443.450 |
406.952 |
449.919 |
|
(d) Cash and cash equivalents |
121.885 |
193.863 |
19.278 |
|
(e) Short-term loans and
advances |
134.708 |
149.855 |
110.777 |
|
(f) Other current assets |
3.803 |
2.070 |
0.165 |
|
Total
Current Assets |
890.649 |
991.226 |
798.560 |
|
|
|
|
|
|
TOTAL |
2063.801 |
1866.240 |
1591.195 |
PROFIT
AND LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2490.130 |
2194.728 |
2135.413 |
|
|
Other Income |
14.519 |
14.247 |
12.496 |
|
|
TOTAL
(A) |
2504.649 |
2208.975 |
2147.909 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1911.935 |
1701.375 |
1578.743 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.099 |
6.710 |
(26.252) |
|
|
Exceptional items before tax |
65.500 |
32.694 |
45.856 |
|
|
Employees benefits expense |
189.688 |
161.334 |
138.127 |
|
|
Other expenses |
309.023 |
311.881 |
318.595 |
|
|
TOTAL
(B) |
2478.245 |
2213.994 |
2055.069 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
26.404 |
(5.019) |
92.840 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.701 |
30.358 |
19.136 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(8.297) |
(35.377) |
73.704 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
109.408 |
99.488 |
89.263 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(117.705) |
(134.865) |
(15.559) |
|
|
|
|
|
|
|
Less |
TAX (H) |
(42.558) |
(43.633) |
1.052 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(75.147) |
(91.232) |
(16.611) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(7.99) |
(9.7) |
(1.77) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
164.783 |
158.807 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.02) |
(4.16) |
(0.78) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.06 |
-0.23 |
4.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.98) |
(7.44 |
(0.98) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.25) |
(0.46) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.01 |
3.21 |
1.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75 |
0.83 |
0.91 |
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 |
450.726 |
450.726 |
450.726 |
|
Reserves & Surplus |
(64.371) |
(155.602) |
13.916 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
386.355 |
295.124 |
464.642 |
|
|
|
|
|
|
long-term borrowings |
318.839 |
366.145 |
417.265 |
|
Short term borrowings |
183.522 |
422.301 |
352.331 |
|
Current Maturities Of
Long-Term Debts |
0.000 |
158.807 |
164.783 |
|
Total
borrowings |
502.361 |
947.253 |
934.379 |
|
Debt/Equity
ratio |
1.300 |
3.210 |
2.011 |
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 |
2135.413 |
2194.728 |
2490.130 |
|
|
|
2.778 |
13.460 |
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 |
2135.413 |
2194.728 |
2490.130 |
|
Profit |
(16.611) |
(91.232) |
(75.147) |
|
|
(0.78%) |
(4.16%) |
(3.02%) |
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 |
No |
|
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 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from to the present address w.e.f. Door No. 9, Puliyur II Lanepuliyur Main Road, Trustpuram Kodambakkam, Chennai – 600024, Tamil Nadu, India
BUSINESS OPERATION:
The income from operation is Rs.25, 4.650 Million as against Rs.2208.975 Million for the corresponding previous year indicating as substantial growth of Rs. 13.40%.
The directors are committed to continually improve the volume of business. M/s. Hyundai Motors India Limited had increased its volume of business. The Company is one of tier-I suppliers of components especially to M/s. Hyundai Motors India Limited and other OEM manufacturers. In the present scenario, all the car manufacturers poised for manufacturing new model/design cars besides expansion of current market opted cars. In view of present demand for the passenger cars in the globe, you company has expanded the existing production facilities and so as to increase the present volume of business to meet the demands at the global level.
You are aware that the company has started a new line of actuator business with M/s. Honeywell Turbo Technologies Private Limited, Pune during last three years and the directors are committed to increase the volume of business with this line. Also last year the company awarded a new business from M/s. Honeywell Turbo Technologies, France to supply actuators.
Current year The company awarded a new business line of Water Temperature Controller from M/s. Renault Nissan Automotive India Private Limited, Chennai and M/s. Honeywell Turbo Technologies, Korea to supply actuators. The company has set up the modern production facilities to meet the supplier demand. The supplies are started and revenue will increase from 2014 onwards and the directors are very confident to success of this new line of business.
Due to United States Dollar volatility the Raw Material Cost has increased steeply and Economic Slow Down, the company had incurred heavy loss during the year 2013-14. But the directors initiated to cut the operating cost and they are confident that the company will make profit in the coming years.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
352.331 |
422.301 |
|
Total |
352.331 |
422.301 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Building
- Office equipment
- Plant and equipment
- Furniture and fixture
- Vehicles
- Motor Vehicle
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 records 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.63.68 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.