MIRA INFORM REPORT
|
Report No. : |
346499 |
|
Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX CONTACT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A- 58/2, Okhla Industrial Area, Phase- II, New Delhi - 110020 |
|
Tel. No.: |
91-11-30262800/ 835 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.06.1992 |
|
|
|
|
Com. Reg. No.: |
55-049206 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2492.558
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PTC049206 |
|
|
|
|
IEC No.: |
0505070464 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP09165C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0313L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Terminal Blocks, Connectors, Interfacing
Solutions, Surge Protection Devices and Automation Components. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of ‘Phoenix Contact Gmbh and Company, KG,
Germany. It is an electrical engineering and automation company. The company is
engaged in manufacturing connectors. Its product range includes terminal
blocks, connectors, interfacing solutions, surge protection devices and
automation components. For the financial year ended 2014, company possess moderate
performance and it has incurred loss from its operations during the year
under a review. However, rating takes into consideration company’s established track
record of business operations backed by well experience management team and
financial flexibility given by its holding entity. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of strong holding entity support, the company can be
considered for business dealings at usual trade terms and condition. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Vivek Kumar Shukla |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-11-30262800 |
|
Date : |
21.10.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
A- 58/2, Okhla Industrial Area, Phase- II, New Delhi – 110020, India |
|
Tel. No.: |
91-11-30262800/ 835 |
|
Fax No.: |
91-11-26383835/285 |
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E-Mail : |
|
|
Website : |
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|
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Factory 2 : |
F- 26/2, Okhla Industrial Area, Phase- II, New Delhi - 110020, India |
|
Tel. No.: |
91-11-30262700 |
|
Fax No.: |
91-11-41611070/ 41611071 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Prithala - Dhatir Road, Village Dudhola, The Palwal, District Faridabad
- 121102, Haryana, India |
|
Tel. No.: |
91-1275-304300 |
|
Fax No.: |
91-1275-304301 |
|
E-Mail : |
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|
|
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Regional Offices : |
Located at: Southern Region ·
Bangalore ·
Chennai ·
Coimbatore ·
Hyderabad Western Region ·
Mumbai ·
Pune ·
Ahmedabad ·
Baroda ·
Surat ·
Indore Eastern Region ·
Kolkata ·
Jamshedpur ·
Raipur Northern Region ·
Delhi ·
Chandigarh |
DIRECTORS
As on: 10.09.2014
|
Name : |
Mr. Ravinder Singh Sabharwal |
|
Designation : |
Director |
|
Address : |
F-47, 2nd Floor, Lajpat Nagar, New Delhi – 110024,
India |
|
Date of Birth/Age : |
07.11.1956 |
|
Date of Appointment : |
31.08.2006 |
|
PAN No.: |
AATPS3915P |
|
Voter ID No.: |
DL/01/005/048897 |
|
DIN No.: |
00452889 |
|
|
|
|
Name : |
Mr. Frank Stuehrenberg |
|
Designation : |
Director |
|
Address : |
Sieben Hugel 38, 33615 Bielefeld, Germany |
|
Date of Birth/Age : |
07.04.1963 |
|
Date of Appointment : |
23.01.2002 |
|
Passport No.: |
555962297 |
|
DIN No.: |
00984899 |
|
|
|
|
Name : |
Mr. Ralf Massmann |
|
Designation : |
Director |
|
Address : |
Werster Strasse-125, 32584, Lohne, Germany |
|
Date of Birth/Age : |
07.07.1968 |
|
Date of Appointment : |
02.05.2001 |
|
DIN No.: |
01081734 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Kumar Shukla |
|
Designation : |
Secretary |
|
Address : |
500/5A, Govindpuri, Kalkaji, New Delhi – 110019, India |
|
Date of Birth/Age : |
12.04.1986 |
|
Date of Appointment : |
09.08.2010 |
|
PAN No.: |
BRWPS7770R |
|
|
|
|
Name : |
Mr. Dinesh Parwanda |
|
Designation : |
President |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
Higher Secondary |
|
Experience : |
26 Years |
|
|
|
|
Name : |
Mr. Ashish Manchanda |
|
Designation : |
Marketing Manager |
|
Date of Birth/Age : |
43 Years |
|
Qualification : |
Elect. Engg., M.B.A. |
|
Experience : |
22 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Phoenix Contact Gmbh and Company KG, Germany |
24700326 |
99.10 |
|
Dinesh Parwanda |
225256 |
0.90 |
|
Total |
24925582 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 10.09.2014
|
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 |
99.10 |
|
Other top fifty shareholders |
0.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Terminal Blocks, Connectors, Interfacing
Solutions, Surge Protection Devices and Automation Components. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Singapore |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 Days) |
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Purchasing : |
Cash and Credit (30/60/90 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Bharat Overseas Bank Limited, HS – 31, Kailash Colony Market New Delhi – 110048, India |
|
Auditors : |
|
|
Name : |
Bansal and Company Chartered Accountants |
|
Address : |
A-6, Maharani Bagh, New Delhi – 110065, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB6603L |
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|
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Membership:
|
Not Available |
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Holding company
: |
Phoenix Contract GMBH and Company, Germany |
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Associate : |
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Enterprises
which are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Trinity Touch Private Limited [U74899DL1970PTC005320] · EC Trading |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25995000 |
Equity Shares |
Rs.100/- each |
Rs. 2599.500 Millions |
|
5000 |
Preference Share |
Rs.100/- each |
Rs. 0.500 Million |
|
|
Total |
|
Rs. 2600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24925582 |
Equity Shares |
Rs.100/- each |
Rs.2492.558
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
2492.558 |
2252.558 |
2252.558 |
|
(b) Reserves & Surplus |
(1320.009) |
(1214.031) |
(863.392) |
|
(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) |
1172.549 |
1038.527 |
1389.166 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
168.680 |
141.880 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4.231 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
9.261 |
10.261 |
|
(d) long-term
provisions |
25.830 |
24.357 |
23.820 |
|
Total Non-current
Liabilities (3) |
198.741 |
175.498 |
34.081 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
60.339 |
68.520 |
|
(b) Trade
payables |
652.100 |
493.903 |
484.652 |
|
(c) Other
current liabilities |
36.972 |
27.645 |
105.582 |
|
(d) Short-term
provisions |
17.740 |
18.746 |
21.415 |
|
Total Current
Liabilities (4) |
706.812 |
600.633 |
680.169 |
|
|
|
|
|
|
TOTAL |
2078.102 |
1814.658 |
2103.416 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
496.148 |
492.304 |
418.491 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
374.335 |
|
(iii)
Capital work-in-progress |
5.457 |
5.360 |
18.118 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
56.988 |
6.396 |
7.598 |
|
(d) Long-term Loan and Advances |
9.205 |
8.450 |
8.882 |
|
(e) Other Non-current
assets |
191.834 |
0.309 |
0.807 |
|
Total Non-Current
Assets |
759.632 |
512.819 |
828.231 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
590.145 |
627.936 |
635.651 |
|
(c) Trade
receivables |
534.353 |
540.796 |
502.845 |
|
(d) Cash
and cash equivalents |
71.381 |
2.982 |
2.965 |
|
(e)
Short-term loans and advances |
118.555 |
110.700 |
125.887 |
|
(f) Other
current assets |
4.036 |
19.425 |
7.837 |
|
Total
Current Assets |
1318.470 |
1301.839 |
1275.185 |
|
|
|
|
|
|
TOTAL |
2078.102 |
1814.658 |
2103.416 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TURNOVER/INCOME (A) |
2043.491 |
1874.147 |
1971.052 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2115.258 |
1756.294 |
1828.816 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(71.767) |
117.853 |
142.236 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.528 |
7.774 |
3.874 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(76.295) |
110.079 |
138.362 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.165 |
73.711 |
54.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(156.460) |
36.368 |
83.650 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(50.482) |
387.007 |
405.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(105.978) |
(350.639) |
(321.575) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
156.460 |
291.022 |
196.796 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORT |
NA |
1036.426 |
1172.501 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(4.25) |
(15.57) |
(14.28) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2250.000 |
The above information has been parted by Mr. Vivek Kumar Shukla (Finance
Controller).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.76) |
2.02 |
4.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13) |
0.04 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.19 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87 |
2.17 |
1.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
2252.558 |
2252.558 |
2492.558 |
|
Reserves & Surplus |
(863.392) |
(1214.031) |
(1320.009) |
|
Net worth |
1389.166 |
1038.527 |
1172.549 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
141.880 |
168.680 |
|
Short term borrowings |
68.520 |
60.339 |
0.000 |
|
Total borrowings |
68.520 |
202.219 |
168.680 |
|
Debt/Equity ratio |
0.049 |
0.195 |
0.144 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Turnover /Total Income |
1971.052 |
1874.147 |
2043.491 |
|
|
|
(4.916) |
9.036 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Turnover /Total Income |
1971.052 |
1874.147 |
2043.491 |
|
Profit/Loss |
(321.5750) |
(350.6390) |
(105.978) |
|
|
(16.31%) |
(18.71%) |
(5.19%) |
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 |
Yes |
|
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 |
LITIGATION
DETAILS:
IN THE HIGH COURT OF DELHI AT NEW DELHI
|
Mac. App. 665/2014 and C. M. No. 11916/2014 (for stay) Oriental Insurance Company Limited…Appellant Through Mr. Pankaj Seth, Advocate. Versus: M/S Phoenix Contact (India) Private Limited
and ORS..... Respondents Through: None. Coram: HON'BLE MR. JUSTICE V. K. SHALI Order: 06.07.2015
V. K. SHALI July 06, 2015 “AA” |
OPERATONS OF THE
COMPANY:
The revitalization of global economy continued during the calendar year 2013 and the global economy ended the year on a better footing as compared to the start of the year. The growth momentum is expected to be carried forward during the year 2014. The International Monetary Fund forecasts that world output will grow 3.6% in 2014, compared to 2.9% during 2013. The world Gross Domestic Product (GDP), as reported by the International Monetary Fund (IMF), witnessed a growth of 3% in 2013 as compared to a growth of 3.2% in 2012. Both advanced economies and emerging and developing economies witnessed the slowdown in growth at 1.3% and 4.7% respectively.
However, in the second half of the Financial Year 2013-14, macroeconomic conditions showed a sign of stabilization in certain developed regions including Europe but the growth remains anemic. Similarly, the GDP growth in India at 4.7% in Financial Year 2013-14, marks a second straight year of sub-5% growth? The worst slowdown in more than a quarter of a century. This is largely attributed to sluggish growth in investments and tight monetary policy by the Reserve Bank of India leading to demand contraction.
While the global economic recalibration is playing out in an irieosuted way, global, business lenders nor becoming increasingly confident about the sustained business growth than they were last year. Global corporations, performance and investor confidence were reflected in the sharp movement of world capital market during 2013.
Financial Year 2013-14 has been a challenging year with subdued economic growth, as a result of higher, financial interest rates, lower industrial growth and lower investing in the country, along with the poor condition of the global economy. Lower, the Indian economy is expected to perform continually well in the coining year's. With n stable government at the center, significant policy clings arc anticipated iii the near future. The government focus on infrastructure development more foreign direct investment inflow and more transparency iii government is likely to significantly increase the business of the country.
The company is working hard to standardized, rationalize and transform business operations to become operationally efficient and remain cost competitive in the market place, The Company is working closely with its customers to gain deeper insights into customers? Needs to realign its offerings accordingly.
The company's revenue from operation has increased by 9%. The loss before tax was INR.
Rs. 156.46 Million during the year; the decrease is mainly because of unfavorable foreign exchange fluctuation.
UNSECURED LOANS
|
Particular |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
168.680 |
141.880 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
60.339 |
|
|
|
|
|
Total |
168.680 |
202.219 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Land
· Buildings
· Residential building
· Factory building
· Plant and equipment
· Factory equipments
· Other pollution reduction equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
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. 65.22 |
|
|
1 |
Rs. 99.93 |
|
Euro |
1 |
Rs. 71.67 |
INFORMATION DETAILS
|
Information
gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
41 |
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.