MIRA INFORM REPORT
|
Report No. : |
322434 |
|
Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCHNEIDER ELECTRIC IT BUSINESS INDIA PRIVATE LIMITED (w.e.f
12.09.2012) |
|
|
|
|
Formerly Known
As : |
AMERICAN POWER CONVERSION (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Survey No.187/3 and 188/3, Jigani Industrial Area, Jigani, Bangalore –
562 106, Karnataka |
|
Tel. No.: |
91-80-27826025-32/ 27826151-58/ 27812070 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
10.03.1997 |
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|
|
|
Com. Reg. No.: |
08-029635 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.710 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109KA1997PTC029635 |
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|
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TAN No.: |
29150072146 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA01711D |
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|
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PAN No.: [Permanent Account No.] |
AACCA6398Q |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacture, sale and trading of
Uninterruptible Power Supply (“UPS”) systems and accessories. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 50000000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Schneider Electric IT Corporation USA” It is an established company having good track record. The rating reflects company strong financial risk profile marked by
healthy reserves position and sound profitability of the company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 DECLINED BY
|
Name : |
Ms. Beena |
|
Designation : |
Office Executive |
|
Contact No.: |
91-80-43333333 |
|
Date : |
14.05.2015 |
LOCATIONS
|
Registered
Office/ Head Office/ Factory 1 : |
Survey No.187/3
and 188/3, Jigani Industrial Area, Jigani, Bangalore – 562 106, Karnataka,
India |
|
Tel. No.: |
91-80-27826025-32/ 27826151-58/ 27812070 |
|
Fax No.: |
91-80-27826022/ 23/ 24 |
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E-Mail : |
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Website : |
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Head Office : |
9th Floor, DLF Building No. 10, Tower C, DLF Cyber City
Phase II, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-3940400 |
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Fax No.: |
91-124-4222036 |
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Factory 2 : |
Located at: ·
Himachal Pradesh |
DIRECTORS
As on : 29.12.2014
|
Name : |
Mr. Javed Ahmad |
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Designation : |
Director |
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|
Address : |
3B, Regency
Heights, Cleveland Road, Fraser Town, Bangalore – 560 005, Karnataka,
India |
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Date of Birth/Age : |
29.01.1967 |
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Qualification : |
MBA |
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Date of Appointment : |
10.12.2007 |
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DIN No.: |
01705373 |
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PAN No.: |
AENPA6787M |
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Other Directorship:
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Name : |
Mr. Pankaj Sharma |
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Designation : |
Director |
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Address : |
1 RHU Cross, #08-08, Singapore, 437431 |
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Date of Birth/Age : |
19.02.1973 |
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Date of Appointment : |
29.12.2014 |
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DIN No.: |
02669725 |
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Other Directorship:
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|
Name : |
Mr. Nikhil Priyavadan Pathak |
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Designation : |
Director |
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Address : |
101/102 1st Floor, Building No.5, Garden Enclave, Near
Siddhb Chal Pldhran Road No.5, Thane (West), Thane – 400610, Maharashtra,
India |
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Date of Birth/Age : |
03.09.1965 |
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Date of Appointment : |
20.12.2013 |
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DIN No.: |
01668137 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Ms. Beena |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.12.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
American Power Conversion
Corporation USA, USA |
|
3353560 |
|
American Power
Conversion Corporation (APC) BV, Netherlands |
|
2 |
|
Schneider
Electric IT France, France |
|
63125 |
|
Schneider
Electric IT Singapore Pte. Limited, |
|
1 |
|
Total |
|
3416688 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Schneider
Electric IT France, France |
|
53546 |
|
Total |
|
53546 |
Equity Share Break up (Percentage of Total Equity)
As on : 29.12.2014
|
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 : |
Subject is engaged in the manufacture, sale and trading of
Uninterruptible Power Supply (“UPS”) systems and accessories. |
|
|
|
|
Products : |
Not Divulged |
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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
|
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 : |
S.R Batliboi and Associates LLP Chartered Accountants |
|
Address : |
12Th & 13Th Floor "Ub City" Canberra BlockNo. 24 Vittal Mallya Road, Bangalore -560001 Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AALFS0506L |
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Ultimate Holding
company: |
Schneider Electric SA, France |
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|
|
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Holding company : |
France Schneider Electric IT Corporation, USA, United States |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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|
Fellow Subsidiary
company |
· Schneider Electric IT Logistics Europe OU, Ireland, IRELAND · Scneider Electric IT Denmark ApS, Denmark · American P owe r Conversion (Xiamen) Power Infrastructure Company Limited, China · Scneider Electric(China) Company Limited, china · Schneider(Suzhou) Drives Company Limited, China · Schneider Electric India Private Limited, India · Schneider Electric President Systems Limited L32109MH1984PLC034340 · Schneider Electric Infrastructure Limited L31900GJ2011PLC064420 · Luminous Power Technologies Private Limited, India U74899DL1988PTC032019 · Uniflair Spa, Italy · Schneider Electric IT Logistics Asia Pacific Pte Limited, Singapore · American Power Conversion (Phils.), Inc, Philippines · American Power Conversion Corporation(APC) BV, Philippines · American Power Conversion Brazil Limited, Brazil Schneider Electric DC MEA FZCO, United Arab Emirates · American Power Conversion Japan,Inc, Japan · Schneider Electric IT Australia Pty Limited, Australia · Schneider Toshiba Inverter Europe SAS, FRANCE · American Power Conversion International Trade (Shanghai) Company, China · MGE Manufacturing (Shanghai) Company Limited, China · Schneider Electric Espana, S.A., Spain · T-SERIC South East Asia (HQ) Pte Limited, Singapore · Gutor Electronic GmbH, Switzerland · Construction Electrique du Vivarais SAS, France · Uniflair (Zhuhai) Electrical Appliances Manufacturing Company Limited, China · Schneider (Suzhou) Enclosure Systems Company Limited, China · Toshiba Schneider Inverter Corporation, Japan · Power Measurement Limited, Canada · Schneider Electric USA Inc, United Staes · Schneider Electric Building, LLC, USA Inc, United Staes · Schneider Busway(Guangzhou) Limited, China · Schneider Electric France SAS, France · Schneider Electric Industries SAS, France |
CAPITAL STRUCTURE
As on 29.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.60.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3433888 |
Equity Shares |
Rs.10/- each |
Rs.34.389
Million |
|
53546 |
Preference Shares |
Rs.10/- each |
Rs.0.535
Million |
|
|
Total |
|
Rs.34.924 Million |
As on : 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000 Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
Rs. 150.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3416688 |
Equity Shares |
Rs.10/- each |
Rs.34.170
Million |
|
53546 |
Preference Shares |
Rs.10/- each |
Rs.0.540
Million |
|
|
|
|
Rs. 34.710
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 |
34.710 |
34.710 |
34.710 |
|
(b) Reserves & Surplus |
17387.290 |
16238.290 |
15090.000 |
|
(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) |
17422.000 |
16273.000 |
15124.710 |
|
|
|
|
|
|
(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 |
17.000 |
22.000 |
27.000 |
|
(d) long-term provisions |
134.000 |
166.000 |
333.000 |
|
Total
Non-current Liabilities (3) |
151.000 |
188.000 |
360.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
58.000 |
0.000 |
0.000 |
|
(b) Trade payables |
3413.000 |
2453.000 |
2759.290 |
|
(c) Other current liabilities |
1322.000 |
1054.000 |
972.000 |
|
(d) Short-term provisions |
947.000 |
973.000 |
409.000 |
|
Total
Current Liabilities (4) |
5740.000 |
4480.000 |
4140.290 |
|
|
|
|
|
|
TOTAL |
23313.000 |
20941.000 |
19625.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2530.000 |
2563.000 |
2634.000 |
|
(ii) Intangible Assets |
20.000 |
12.000 |
5.000 |
|
(iii) Capital work-in-progress |
26.000 |
8.000 |
39.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5000.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
112.000 |
22.000 |
17.000 |
|
(d) Long-term Loan and Advances |
4654.000 |
7444.000 |
5103.000 |
|
(e) Other Non-current assets |
10.000 |
5.000 |
5.000 |
|
Total
Non-Current Assets |
12352.000 |
10054.000 |
7803.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3992.000 |
3221.000 |
3371.000 |
|
(c) Trade receivables |
4774.000 |
3921.000 |
4114.000 |
|
(d) Cash and cash equivalents |
1012.000 |
2493.000 |
2475.000 |
|
(e) Short-term loans and
advances |
828.000 |
592.000 |
1454.000 |
|
(f) Other current assets |
355.000 |
660.000 |
408.000 |
|
Total
Current Assets |
10961.000 |
10887.000 |
11822.000 |
|
|
|
|
|
|
TOTAL |
23313.000 |
20941.000 |
19625.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
21135.000 |
21525.000 |
22632.000 |
|
|
Other Income |
20.000 |
350.000 |
217.000 |
|
|
TOTAL
|
21155.000 |
21875.000 |
22849.000 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
18950.000 |
19484.000 |
1935.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2205.000 |
2391.000 |
20914.000 |
|
|
|
|
|
|
|
Less |
TAX |
1048.000 |
1243.000 |
18555.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1157.000 |
1148.000 |
2359.000 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16088.000 |
14940.000 |
12581.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
17245.000 |
16088.000 |
14940.000 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
13293.000 |
14664.000 |
17079.000 |
|
|
Software development and
design services |
927.000 |
767.000 |
NA |
|
|
Sale of fixed assets |
10.000 |
11.000 |
NA |
|
|
TOTAL
EARNINGS |
14230.000 |
15442.000 |
17079.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials Components and
Stores parts |
7293.000 |
7970.000 |
8756.000 |
|
|
Capital Goods |
192.000 |
170.000 |
NA |
|
|
TOTAL
IMPORTS |
7485.000 |
8140.000 |
8756.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
331.29 |
330.74 |
679.78 |
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) |
(%) |
5.47 |
5.33 |
10.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.13 |
11.43 |
106.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.15 |
1.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91 |
2.43 |
2.86 |
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 |
34.710 |
34.710 |
34.710 |
|
Reserves & Surplus |
15090.000 |
16238.290 |
17387.290 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15124.710 |
16273.000 |
17422.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
58.000 |
|
Total
borrowings |
0.000 |
0.000 |
58.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.003 |
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 |
22632.000 |
21525.000 |
21135.000 |
|
|
|
(4.891) |
(1.812) |
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 |
22632.000 |
21525.000 |
21135.000 |
|
Profit |
2359.000 |
1148.000 |
1157.000 |
|
|
10.42% |
5.33% |
5.47% |
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 |
No |
|
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 |
FINANCIAL RESULTS:
The Company was able to make satisfactory performance during the year ended on 31.03.2014. The gross revenue from operations for the year has been Rs. 21135.000 million which was mainly generated from sale of products of the Company. The Company was able to generate other income for an amount of Rs. 20.000 million during the year, which is included in the total income. The total expenditure for the year has been Rs. 18950.000million. The net profit of the Company for the year ended on 31.03.2014 has been Rs. 1157.000 million.
SCHEME OF
AMALGAMATION:
During the period remove the Company filed a Petition before the Honble High Court of Karnataka, Bangalore under Section 391 to 394 of the Companies Act, 2014 for sanction of a Scheme of Amalgamation of Uniflair India Private Limited, (a group company) with the Company. Uniflair India Private Limited also filed a similar Petition before the Honble High Court of Karnataka, Bangalore for sanction of the said Scheme of Amalgamation.
The High Court of Karnataka, Bangalore has approved the Scheme and sanctioned the Scheme of Amalgamation vide its order dated 25th September, 2014. The appointed date of the Amalgamation was 1st April, 2013 and the effective date of the Amalgamation was 21st October, 2014 i.e. the date of filing the Order of the Honble High Court of Karnataka with the Registrar of Companies. According to the said Scheme, all the assets and liabilities including the employees of Uniflair India Private Limited as on the appointed date would be transferred to Schneider Electric IT Business India Private Limited.
Further, pursuant to the aforesaid order sanctioning the scheme of Amalgamation, Uniflair India Private Limited stand dissolved without the process of winding up. Consequent to amalgamation, the authorised capital of Uniflair India Private Limited is also merged with the Company and the consolidated authorized capital of the company accordingly stands increased to Rs. 150.000 Million divided into 15.000 Million equity shares of Rs. 10 each. The Company has also issued 17,200 equity shares to the shareholders of Uniflair India Private Limited in the ratio of 1 equity share of the Company for every 500 shares of Uniflair India Private Limited as provided in the aforesaid scheme of Amalgamation
Consequent to amalgamation, the financial statements of Uniflair India Private Limited are consolidated with the financial statements of the Company effective 1st April, 2013.
INDEX
OF CHARGES : NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Land
·
Building
·
Plant and Equipment
·
Furniture and fixture
·
Vehicle
·
Office equipment
·
Computer equipment
·
Leasehold improvement
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 : |
SPR |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.