MIRA INFORM REPORT

 

 

Report No. :

349553

Report Date :

18.11.2015

 

IDENTIFICATION DETAILS

 

Name :

NSK INDIA SALES COMPANY PRIVATE LIMITED

 

 

Registered Office :

6th Floor, Bannari Amman Towers, No. 29, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600004, Tamilnadu

Tel. No.:

91-44-28479600

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

24.07.2007

 

 

Com. Reg. No.:

18-064307

 

 

Capital Investment / Paid-up Capital :

Rs. 2000.000  Million

 

 

CIN No.:

[Company Identification No.]

U29130TN2007PTC064307

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEN06090A

 

 

PAN No.:

[Permanent Account No.]

AACCN5663R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is primarily engaged in the business of trading and marketing bearings and related products.

 

 

No. of Employees :

Not Available

 

 

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 4844000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “NSK Limited”, Japan.

 

It is an established company incorporated in the year 2007 having satisfactory track.

 

The company has shown a significant growth in its profit and has achieved a good profit margin during FY 2015.

 

The rating also takes into consideration debt free balance sheet of the company and favorable gap between trade payables and trade receivables.

 

The rating also derives strength from its holding company and its experienced management.

 

Moreover, this rating strength is partially offset by some accumulated losses incurred by the company.

 

Trade relations are reported as fair. Business is active. Payments terms are reported as 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

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 DENIED

 

Unable to Contact

 

Contact No.: 91-44-24331161 / 91-9840957961

 

LOCATIONS

 

Registered Office :

6th Floor, Bannari Amman Towers, No. 29, Dr. Radhakrishnan Salai, Myla Pore, Chennai - 600004, Tamilnadu, India

Tel. No.:

91-44-28479600

Fax No.:

91-44-28479601

E-Mail :

hemachandran@nsk.com

natarajan@nsk.com

Website :

www.nsk.com

 

 

Branch Office :

68.30 KM, National Highway – 8, Village Kapriwas, Dharuhera, Rewari, Haryana, India

 

 

DIRECTORS

 

AS ON 22.07.2014

 

Name :

Mr. Ajit Krishnan

Designation :

Managing Director

Address :

Unit No.1, 17, Arch Bishop Math, IAS Avenue, Boat Club Road, RA Puram, Chennai - 600028, Tamilnadu, India

Date of Birth/Age :

12.11.1958

Date of Appointment :

03.08.2015

DIN No. :

01630599

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29195KA1997PTC027954

SKF Technologies (India) Private Limited

Director

15/06/2007

15/06/2007

31/12/2012

Active

NO

2

U29130TN2006PTC059088

NSK-ABC BEARINGS Private Limited

Director

22/07/2014

29/10/2013

-

Active

NO

3

U29130TN2007PTC064307

NSK INDIA SALES COMPANY PRIVATE LIMITED

Managing director

03/08/2015

11/11/2013

-

Active

NO

 

 

Name :

Hidemichi Okuda

Designation :

Director

Address :

Flat No B1, MLS Apartments 26/2 (Old/9 (New), Dr. B Narsimhan Road, 2nd Street, T Nagar, Chennai-600017, Tamil Nadu, India

Date of Birth/Age :

06.06.1954

Date of Appointment :

25.09.2012

DIN No.:

03617126

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29130TN2007PTC064307

NSK INDIA SALES COMPANY PRIVATE LIMITED

Director

25/09/2012

30/09/2011

-

Active

NO

2

U29141TN1995PTC030621

RANE NSK STEERING SYSTEMS Private Limited

Alternate director

16/07/2015

20/01/2015

-

Active

NO

 

 

Name :

Mr. Akitoshi Ichii

Designation :

Director

Address :

Flat No B1, MLS Apartments 26/2 (Old) / 9 (New), Dr. B Narssimhan Road, 2nd Street, T Nagar, Chennai-600017, Tamilnadu, India

Date of Birth/Age :

08.05.1963

Date of Appointment :

25.09.2012

DIN No.:

05336693

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29130TN2006PTC059088

NSK-ABC BEARINGS Private Limited

Director

25/09/2012

27/06/2012

-

Active

NO

2

U29141TN1995PTC030621

RANE NSK STEERING SYSTEMS Private Limited

Director

29/07/2013

27/07/2012

-

Active

NO

3

U29130TN2007PTC064307

NSK INDIA SALES COMPANY PRIVATE LIMITED

Director

25/09/2012

25/09/2012

-

Active

NO

 

 

Name :

Katsumi Kobayashi

Designation :

Director

Address :

2-5-32, Higashi, Hanyu, Saitama, Japan

Date of Birth/Age :

25.12.1960

Date of Appointment :

22.07.2014

DIN No. :

06737635

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29130TN2007PTC064307

NSK INDIA SALES COMPANY PRIVATE LIMITED

Director

22/07/2014

11/11/2013

-

Active

NO

 

 

Name :

Masahide Matsubara

Designation :

Director

Address :

6-4-5, Minamiaoyama, Minato-ku, Tokyo, Tokyo, Japan

Date of Birth/Age :

24.10.1953

Date of Appointment :

22.07.2014

DIN No. :

06737636

Other Directorship :

.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29130TN2007PTC064307

NSK INDIA SALES COMPANY PRIVATE LIMITED

Director

22/07/2014

11/11/2013

-

Active

NO

 

 

Name :

Mr. Toshihiro Uchiyama

Designation :

Director

Address :

6-16-10, Yatsu Narashino, Chiba - 2750266

Date of Birth/Age :

28.11.1958

Date of Appointment :

30.08.2013

DIN No.:

06444925

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29130TN2007PTC064307

NSK INDIA SALES COMPANY PRIVATE LIMITED

Director

30/08/2013

10/12/2012

-

Active

NO

2

U29130TN2006PTC059088

NSK-ABC BEARINGS Private Limited

Director

30/08/2013

10/12/2012

-

Active

NO

3

U29141TN1995PTC030621

RANE NSK STEERING SYSTEMS Private Limited

Director

29/07/2013

25/01/2013

-

Active

NO

 

 

KEY EXECUTIVE

 

Name :

Mr. Jegadesh Kumar

Designation :

Deputy Manager – Sales

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 22.07.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

http://www.bseindia.com/include/images/clear.gifhttp://www.bseindia.com/include/images/clear.gifNSK Limited, Japan 

199980000

99.99

http://www.bseindia.com/include/images/clear.gifNSK International (Singapore) Pte. Limited, Singapore

20000

0.01

Total

200000000

100.00

 

 

 

AS ON 22.07.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

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 primarily engaged in the business of trading and marketing bearings and related products.

 

 

Products :

Bearings

 

 

Brand Names :

NSK’

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Available

 

 

Bankers :

Bank Name

HDFC Bank

Branch

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Bank of Tokyo-Mitsubishi UFJ

 

  • ICICI Bank

 

  • Miczuho Bank Limited

 

  • SBI NISCO Gratuity Scheme

 

  • State Bank of India

 

Auditors :

 

Name :

S.R. Batliboi and Associates LLP

Chartered Accountants

Address :

6th & 7th Floor, "A" Block, Tidel Park, No.4, Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India

Income-tax PAN of auditor or auditor's firm :

ACHFS9118A

 

 

Memberships :

 

 

 

Collaborators :

 

 

 

Holding Company :

NSK Limited, Japan

 

 

Fellow Subsidiaries
  • NSK Singapore (Private) Limited
  • NSK International (Singapore) Pte Limited
  • NSK Limited, Japan - India Branch Office
  • NSK Asia Pacific Technology Centre (Thailand) Company Limited
  • NSK ?ABC Bearings Limited
  • Kunshan NSK Company Limited
  • NSK Korea Company Limited
  • NSK Corporation, USA
  • PT. NSK Indonesia
  • Shanghai Hyzone Link Import and Export NSK Bearings (Thailand) Company Limited
  • NSK Bearings Manufacturing Thailand Company Limited
  • NSK Australia Pty Limited
  • NSK Bearings New Zealand Limited
  • NSK Bearings (Malaysia) Sdn. Bhd.
  • NSK Vietnam Company Limited
  • NSK Europe Limited
  • NSK Canada Inc.
  • NSK Latin America, Inc.
  • NSK Roadamientos Mexicana, S.A. DE C.V. NSK(China) Investment Company Limited
  • NSK Brasil Ltda.
  • Suzhou NSK Bearings Company Limited
  • NSK Precision America, Inc
  • Rane NSK Steering Systems Limited
  • HEFEI NSK Company Limited
  • NSK Chugai Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200,000,000

Equity Shares

Rs.10/- each

Rs. 2000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200,000,000

Equity Shares

Rs.10/- each

Rs. 2000.000 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2000.000

2000.000

2000.000

(b) Reserves & Surplus

(304.463)

(471.290)

(564.152)

(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)

1695.537

1528.710

1435.848

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

3.350

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.681

0.855

0.000

Total Non-current Liabilities (3)

0.681

0.855

3.350

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

325.998

281.833

466.272

(c) Other current liabilities

14.421

13.224

39.231

(d) Short-term provisions

7.029

10.073

1.235

Total Current Liabilities (4)

347.448

305.130

506.738

 

 

 

 

TOTAL

2043.666

1834.695

1945.936

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

11.460

10.970

15.191

(ii) Intangible Assets

1.027

0.153

0.187

(iii) Capital work-in-progress

1.008

0.000

0.000

(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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

26.120

23.557

24.129

(e) Other Non-current assets

3.718

0.588

2.385

Total Non-Current Assets

43.333

35.268

41.892

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

492.816

501.250

578.754

(c) Trade receivables

499.845

522.390

687.403

(d) Cash and cash equivalents

924.253

671.131

508.876

(e) Short-term loans and advances

59.903

69.106

93.238

(f) Other current assets

23.516

35.550

35.773

Total Current Assets

2000.333

1799.427

1904.044

 

 

 

 

TOTAL

2043.666

1834.695

1945.936

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

2826.204

2708.009

2632.967

 

 

Other Income

 

 

56.588

 

 

TOTAL                                    

2826.204

2708.009

2689.555

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

TOTAL                                    

2609.539

2588.446

2908.013

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

216.665

119.563

(218.458)

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION                    

3.339

8.004

8.027

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX 

213.326

111.559

(226.485)

 

 

 

 

 

 

TAX                                                                 

46.498

18.696

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

166.827

92.863

(226.485)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Commission income

0.000

4.240

12.358

 

 

Export Sales

2.082

4.186

246.069

 

TOTAL EARNINGS

2.082

8.426

258.427

 

 

 

 

 

 

IMPORTS

 

 

 

 

Traded goods

1657.182

1630.048

1686.404

 

TOTAL

1657.182

1630.048

1686.404

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.83

0.46

(1.32)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

312.904

206.434

(1543.593)

Net cash flows from (used in) operating activities

195.953

139.512

(1555.921)

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

NA

NA

(8.42)

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.44

6.08

(11.64)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.07

(0.16)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

5.76

5.90

3.76

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2000.000

2000.000

2000.000

Reserves & Surplus

(564.152)

(471.290)

(304.463)

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1435.848

1528.710

1695.537

 

 

 

 

long-term borrowings

3.350

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

3.350

0.000

0.000

Debt/Equity ratio

0.002

0.000

0.000

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

2689.555

2708.009

2826.204

 

 

0.686

4.365

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

2689.555

2708.009

2826.204

Profit/Loss

(226.485)

92.863

166.827

 

(8.42%)

3.43%

5.90%

 

 

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

No

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

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

 

CORPORATE INFORMATION

 

Subject was incorporated on July 24, 2007. The Company is a subsidiary of NSK Limited, Japan and is primarily engaged in the business of trading and marketing bearings and related products under brand name ‘NSK’ in India. NISCO commenced its trading activity in April 2008.

 

OPERATIONS

 

Income for the year was Rs.2826.204 Million and the Profit after Tax was Rs. 166.827 Million.

 

NOTE  

 

The registered office of the company has been shifted from Old No.5 / New No. 7, Boat Club Road, Chennai – 600028, Tamilnadu, India to the present address w.e.f. 22.08.2011.

 

FIXED ASSETS

 

Tangible Assets

 

·         Leasehold Improvements

·         Plant and Machinery

·         Office Equipment

·         Furniture and Fixtures

·         Computer

 

Intangible Assets

·         Computer Software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.65.98

UK Pound

1

Rs.100.11

Euro

1

Rs.70.35

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

3

--CREDIT LINES

1~10

5

--MARGINS

-5~5

----

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.