MIRA INFORM REPORT
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Report No. : |
321962 |
|
Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ENEXCO TEKNOLOGIES INDIA LIMITED |
|
|
|
|
Registered
Office : |
C-451, Chittaranjan Park, New Delhi – 110019, India |
|
Tel. No.: |
91-91-124-4001301 / 02 / 03 / 04 / 05 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.05.1985 |
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Com. Reg. No.: |
55-020898 |
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Capital
Investment / Paid-up Capital : |
Rs.60.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120DL1985PLC020898 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELE02847F |
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PAN No.: [Permanent Account No.] |
AAACE0593R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Supplier of cement plant equipment,
grinding unit, material handling equipment, storage and blending silos
distributors |
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|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has incurred a loss during FY 2014 However, net worth of
the company is satisfactory. General financial position of the company is
normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments terms
are reported to be slow but 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 – 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 |
CRISIL |
|
Rating |
Long Term Rating (BBB-) |
|
Rating Explanation |
Moderate degree of safety. If carry moderate
credit risk |
|
Date |
18.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A3) |
|
Rating Explanation |
Moderate degree of safety and carry high
credit risk |
|
Date |
18.03.2015 |
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 DENIED
Management non co-operative (91-124-4001301)
LOCATIONS
|
Registered Office : |
C-451, Chittaranjan Park, New Delhi – 110019, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
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Branch Office : |
Plot No. 502, Udyog Vihar, Phase III, Gurgaon – 122016, Haryana, India |
|
Tel. No.: |
91-124-4001301 / 02 / 03 / 04 / 05 |
|
Fax No.: |
91-124-4001306 |
DIRECTORS
As on : 16.09.2014
|
Name : |
Mr. Beumer Christoph |
|
Designation : |
Director |
|
Address : |
VON-OER- Stasse 25, Oelde 59302 |
|
Date of Birth/Age : |
14.12.1962 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
01047007 |
|
|
|
|
Name : |
Mr. Brunsen Bernhard Hermann |
|
Designation : |
Director |
|
Address : |
Bonhoefferweg 14, Beckum 59269 |
|
Date of Birth/Age : |
16.01.1962 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
00687279 |
|
|
|
|
Name : |
Mr. Nitin Vyas |
|
Designation : |
Director |
|
Address : |
D-124, Westend Heights, DLF PH V, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
03.04.1975 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
03344082 |
|
|
|
|
Name : |
Mr. Dembla Kumar Ashok |
|
Designation : |
Managing Director |
|
Address : |
H.No. 1477, Sector 15, Faridabad – 121001, Haryana, India |
|
Date of Birth/Age : |
31.08.1959 |
|
Date of Appointment : |
11.10.2013 |
|
DIN No.: |
00294388 |
KEY EXECUTIVES
|
Name : |
Ms. Neha Sharma |
|
Designation : |
Secretary |
|
Address : |
House No.35, Ward No. 2, Near Ghata Ghar, Ballabgarh, Faridabad –
121004, Haryana, India |
|
Date of Birth/Age : |
02.03.1986 |
|
Date of Appointment : |
18.08.2012 |
|
PAN No.: |
BWDPS9858N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 16.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
M/s Beumer Beteiligunsesellschaft mbh |
|
5999994 |
|
Dr. Christoph Beumer |
|
1 |
|
Norbert Hufnagel |
|
1 |
|
Martin Mossinkoff |
|
1 |
|
Richard Scholz |
|
1 |
|
Wolfgang Hoss |
|
1 |
|
Hermann Bernhard Brunsen |
|
1 |
|
Total |
|
6000000 |
Equity Share Break up (Percentage of Total Equity)
As on : 16.09.2014
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of cement plant equipment,
grinding unit, material handling equipment, storage and blending silos
distributors |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
N.K. Sheth and Company Chartered Accountants |
|
Address : |
4, Mulji Mistry Bld.No.B, 64b, Tejpal Road, Vile Parle (East) , Mumbai,Maharashtra-400057 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABPS6381D |
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|
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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|
|
|
Holding Company: |
Beumer Beteiligungsgesellschaft gmbh, Germany |
CAPITAL STRUCTURE
As on 16.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000
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 |
60.000 |
60.000 |
60.000 |
|
(b) Reserves & Surplus |
730.031 |
748.261 |
644.027 |
|
(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) |
790.031 |
808.261 |
704.027 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
4.430 |
62.396 |
121.374 |
|
(d) long-term provisions |
41.930 |
30.621 |
18.299 |
|
Total
Non-current Liabilities (3) |
46.360 |
93.017 |
139.673 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
341.539 |
108.895 |
3.359 |
|
(b) Trade payables |
373.890 |
463.710 |
421.266 |
|
(c) Other current liabilities |
210.964 |
299.292 |
139.585 |
|
(d) Short-term provisions |
11.052 |
34.746 |
24.077 |
|
Total
Current Liabilities (4) |
937.445 |
906.643 |
588.287 |
|
|
|
|
|
|
TOTAL |
1773.836 |
1807.921 |
1431.987 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
354.364 |
348.528 |
334.712 |
|
(ii) Intangible Assets |
38.263 |
4.684 |
9.246 |
|
(iii) Capital work-in-progress |
3.076 |
0.172 |
6.132 |
|
(iv) Intangible assets under
development |
0.000 |
0.794 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
34.320 |
15.084 |
4.965 |
|
(d) Long-term Loan and Advances |
95.372 |
20.345 |
0.000 |
|
(e) Other Non-current assets |
25.591 |
266.780 |
147.187 |
|
Total
Non-Current Assets |
550.986 |
656.387 |
502.242 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
334.973 |
241.322 |
183.050 |
|
(c) Trade receivables |
713.775 |
717.162 |
493.939 |
|
(d) Cash and cash equivalents |
84.831 |
106.184 |
133.175 |
|
(e) Short-term loans and
advances |
83.454 |
76.231 |
50.296 |
|
(f) Other current assets |
5.817 |
10.635 |
69.285 |
|
Total
Current Assets |
1222.850 |
1151.534 |
929.745 |
|
|
|
|
|
|
TOTAL |
1773.836 |
1807.921 |
1431.987 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1831.226 |
1634.742 |
1550.218 |
|
|
Other Income |
15.335 |
25.518 |
50.106 |
|
|
TOTAL
(A) |
1846.561 |
1660.260 |
1600.324 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
970.236 |
838.154 |
1009.723 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
8.870 |
|
|
Employees benefits expense |
204.618 |
165.862 |
132.175 |
|
|
Prior period items |
1.301 |
5.509 |
1.701 |
|
|
Other expenses |
619.318 |
447.053 |
270.463 |
|
|
TOTAL
(B) |
1795.473 |
1456.578 |
1422.932 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
51.088 |
203.682 |
177.392 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.272 |
26.498 |
5.154 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(5.184) |
177.184 |
172.238 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
31.308 |
16.810 |
13.335 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(36.492) |
160.374 |
158.903 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(19.236) |
55.058 |
60.879 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(17.256) |
105.316 |
98.024 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
464.070 |
550.140 |
423.881 |
|
|
TOTAL
EARNINGS |
464.070 |
550.140 |
423.881 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
138.565 |
183.628 |
227.696 |
|
|
TOTAL
IMPORTS |
138.565 |
183.628 |
227.696 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.88) |
17.55 |
16.34 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.94) |
6.44 |
6.32 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.79 |
12.46 |
11.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.10) |
8.95 |
11.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
0.20 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.43 |
0.13 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.27 |
1.58 |
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 |
60.000 |
60.000 |
60.000 |
|
Reserves & Surplus |
644.027 |
748.261 |
730.031 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
704.027 |
808.261 |
790.031 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3.359 |
108.895 |
341.539 |
|
Total
borrowings |
3.359 |
108.895 |
341.539 |
|
Debt/Equity
ratio |
0.005 |
0.135 |
0.432 |
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 |
1550.218 |
1634.742 |
1831.226 |
|
|
|
5.452 |
12.019 |
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 |
1550.218 |
1634.742 |
1831.226 |
|
Profit |
98.024 |
105.316 |
(17.256) |
|
|
6.32% |
6.44% |
(0.94%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from B-17, Geetanjal Enclve, New Delhi – 110017, India to the present address w.e.f. 26.03.2012
BUSINESS MODEL
OUTLOOK & OVERVIEW
PRESENT BUSINESS
MODEL WITH CEMENT INDUSTRY
The present outlook ofthe company is to become a totally vertically integrated service provider of cement industry. The company is fully equipped with latest technology with support of Parent company BEUMER Beteiligungsgesellschaft gmbh, located in Germany, Beckum and It’s our endeavor to place itself at a better place in terms of price realization from its customers by catering to wider product reach.
The business outlook and scenario in the next fiscal year looks quite challenging due to the slowdown in the economy, Cement demand is likely to remain sluggish next fiscal with around 5?6 per cent growth impacted by slowdown in construction and infrastructure sectors. India’s cement sector had clocked 5.6 per cent growth in 2012-13 and the projected growth of 5 to 6 percent next fiscal would be supported by an expected increase in demand from the rural sector and Tier’II and Tier’III cities.
There could also be some uptake in demand from the second half of this year, as after elections, there would impact on overall growth in construction activities.
The credit rating agencies have however maintained its stable to negative outlook for the sector for the next fiscal year.
The slowdown in construction and allied activities would lead to shrink the capacity utilization of the cement companies further between 70 per cent and 75 per cent in FY?14 and FY?15 compared to 76 per cent recorded in the previous fiscal. However with thrust on infrastructure in year 2015 we may see more capacity utilization in range of 75 %
The company’s vision is to prove its existence in the international as one of the leading player in the cement industry by providing world class services in cement manufacturing units under one roof.
With this vision the management, with your approval decided to merge the company with Beumer Technology India Private Limited one of the subsidiary of its group Company in India primarily with a view.
To use the resources in development of business and strengthening leadership in the
industry.
Improve organizational capability and leadership, arising from the pooling of human capital who have the diverse skills, talent and vast experience to compete successfully in an increasingly competitive industry.
Reduction of overheads and other expenses facilitate administrative convenience and ensure optimum utilization of available services and resources.
Greater integration and greater financial strength and flexibility of the amalgamated entity, which would ultimately result in maximizing the overall shareholder value and would improve the competitive position of the combined entity.
With the merger the product range shall increase i.e. Airport Business, Logistics, Non-Cement Conveying & Loading Systems which will help in mitigating the effect of slow-down in Cement Business.
This merger will provide a positive synergy in financial terms and will help the management to achieve highest levels of production efficiencies with compressed lead-time in executing the orders.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Term loan from bank |
26.691 |
0.000 |
|
Rupee term loan from Bank |
0.000 |
71.354 |
|
Total |
26.691 |
71.354 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation / Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80024282 |
11/07/2013 * |
360,000,000.00 |
CANARA BANK |
Prime Corporate Branch-I, Delhi, 1 DDA Building,, |
B81381592 |
|
2 |
80024279 |
11/07/2013 * |
1,190,000,000.00 |
CANARA BANK |
Prime Corporate Branch-I, Delhi, 1 DDA Building,, |
B81381212 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Guarantees/Letters of Credit issued by
Bankers on behalf of the company |
562.891 |
650.739 |
|
Less : Margin provided by the Company against these
Guarantees |
(84.313) |
(103.587) |
|
Total |
478.579 |
547.152 |
FIXED ASSETS
- Land
- Building
- Office building
- Plant and equipment
- Factory equipments
- Furniture and Fixture
- Vehicles
- Motor Vehicles
- Computer equipment
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.63.70 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.