MIRA INFORM REPORT

 

 

Report No. :

349914

Report Date :

20.11.2015

 

IDENTIFICATION DETAILS

 

Name :

APPLIED MATERIALS INDIA PRIVATE LIMITED

 

 

Registered Office :

Unit No. 5, 3rd Floor, Explorer Block, International Technology Park, Bangalore – 560066, Karnataka

Tel. No.:

91-80-66283000 / 66283728

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.07.2003

 

 

Com. Reg. No.:

08-032243

 

 

Capital Investment / Paid-up Capital :

Rs.0.107 Million

 

 

CIN No.:

[Company Identification No.]

U74140KA2003FTC032243

 

 

IEC No.:

0703008391

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAECA2635C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in providing software development in the nature of engineering services and support services.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

 Aa (77)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 5182000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Applied Materials, Inc., U.S.A. It creates and commercializes nano manufacturing technology used in the production of semiconductor, flat panel display, Glass, WEB and solar (crystalline and thin film) products.

 

For the financial year ended 2014, the company has healthy scale of operations marked by decent sales turnover along with profitability margin of 7.99%.

 

The ratings takes into consideration the company’s strong financial risk profile, adequate networth base along with zero debt balance sheet profile.

 

The company has vast experience of its promoters backed by the financial and product support that it receives from its parent company.

 

Further, the company has globally shown its presence and has an established market position.

 

Trade relations are fair. Business is active.  Payments are regular and as per commitment.

 

In view of aforesaid, the company can be considered 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

 

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

 

Management non-cooperative (91-80-66283000 / 66283728)

 

LOCATIONS

 

Registered Office :

Unit No. 5, 3rd Floor, Explorer Block, International Technology Park, Bangalore – 560066, Karnataka, India

Tel. No.:

91-80-66283000 / 66283728

Fax No.:

91-80-41156070

E-Mail :

dwarakanath_ramaswamy@amat.com

Website :

www.appliedmaterials.com

 

 

Head Office :

6th Floor, Navigator Building, ITPL Whitefield Road, Bangalore – 560066, Karnataka, India

 

 

Branch Office 1 :

Suite No.672, Level-5, SB Tower, 1A/1 Sector-16 A, Noida – 201301, Uttar Pradesh, India

Tel. No.:

91-120-4804908

 

 

Branch Office 2 :

10th Floor, Unit 1, Pinnacle Building, Ascendas International Tech Park, CSIR Road, Taramani, Chennai – 600113, Tamilnadu, India

Tel. No.:

91-44-44087000

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Dwarakanath Ramaswamy

Designation :

Director

Address :

59, 6th Cross, I Main Road, ISRO Layout, Bangalore - 560078, Karnataka, India

Date of Birth/Age :

22.05.1969

Qualification :

MBA

Experience :

22 Years

Date of Appointment :

10.01.2015

PAN No.:

AALPD9366R

DIN No.:

01595796

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

U74140KA2003FTC032243

APPLIED MATERIALS INDIA PRIVATE LIMITED

Director

10/01/2005

10/01/2005

-

Active

NO

2

U29219TN2003PTC051764

APPLIED MATERIALS (CHENNAI) PRIVATE LIMITED

Director

30/03/2007

30/03/2007

-

Amalgamated

NO

 

 

Name :

Mr. Robert Michael Friess

Designation :

Director

Address :

16505 Shady View Lane, Los Gatos, California, 95032, United States of America

Date of Birth/Age :

17.03.1963

Date of Appointment :

25.09.2006

DIN No.:

01120401

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

U74140KA2003FTC032243

APPLIED MATERIALS INDIA PRIVATE LIMITED

Director

25/09/2006

25/09/2006

-

Active

NO

2

U29219TN2003PTC051764

APPLIED MATERIALS (CHENNAI) PRIVATE LIMITED

Director

30/03/2007

30/03/2007

-

Amalgamated

NO

 

 

Name :

Mrs. Nancy Lucke Ludgus

Designation :

Director

Address :

270 Vernal Court, Los Altos, California, 94022, United States of America

Date of Birth/Age :

28.10.1953

Date of Appointment :

06.02.2013

DIN No.:

06472930

 

 

Name :

Mr. Shanmuganathan Ponnambalam

Designation :

Director

Address :

Concorde Silicon Valley, Villa No U225, Near Wipro, Gate 5, Neeladhri Park Road, Electronic City Face1, Bangalore - 560100, Karnataka, India

Date of Birth/Age :

02.06.1966

Qualification :

M.S.

Experience :

26 Years

Date of Appointment :

25.09.2006

PAN No.:

APAPS0499A

DIN No.:

02087009

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

U74140KA2003FTC032243

APPLIED MATERIALS INDIA PRIVATE LIMITED

Director

06/02/2015

25/09/2006

-

Active

NO

2

U29219TN2003PTC051764

APPLIED MATERIALS (CHENNAI) PRIVATE LIMITED

Director

30/03/2007

30/03/2007

-

Amalgamated

NO

 

 

Name :

Sonny Ramadasan Kunnakkat

Designation :

Whole-Time Director

Address :

412, IIMB Bannerghatta Road, Opposite Appollo Hospital IIMB, Bangalore - 560070, Karnataka, India

Date of Birth/Age :

39 Years

Qualification :

M.S

Experience :

10 Years

Date of Appointment :

06.03.2015

DIN No.:

07064504

 

 

KEY EXECUTIVES

 

EMPLOYED THROUGHOUT THE YEAR:

Name :

Mr. Vijay Parihar

Designation :

Head, SSG Engineering

 

 

Name :

Mr. Nagaraj Bhat

Designation :

Senior Director -IT

 

 

Name :

Mr. Abhay Singh

Designation :

Senior Director- HR

 

 

Name :

Mr. Tarun K. Bhatt

Designation :

Director

 

 

Name :

Mr. Kaushik Vaidya

Designation :

Director - Engineering

 

 

Name :

Mr. Suraj Rengarajan

Designation :

Director - Engineering

 

 

Name :

Mr. Giridhar Kamesh

Designation :

Director - Engineering

 

 

Name :

Mr. Duvur Ramu

Designation :

Director Global Data Network Eng and Operations

 

 

EMPLOYED FOR A PART OF THE YEAR:

Name :

Mr. Srinivas R. Bogadi

Designation :

Director -Service Delivery Management

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Applied Materials Inc., United States of America

 

10707

Applied Materials Asia Pacific LLC., United States of America

 

1

Total

 

10708

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

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 providing software development in the nature of engineering services and support services.

 

 

Products / Services :

Product / Service Description

Item Code No. (ITC Code)

Software Development Service

99831419

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

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

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

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

 

Auditors :

 

Name :

B S R and Company, LLP

Chartered Accountants

Address :

Maruthi Infotech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India

PAN No.:

AAAFB9852F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Applied Materials, Inc., United States of America

 

 

Fellow Subsidiary Companies :
  • Applied Materials (Xian) Co. Limited, China
  • Applied Materials Japan, Inc., Japan
  • Applied Materials Singapore Technology, Singapore
  • Applied Materials South East Asia Pte Limited, Singapore
  • Applied Materials Taiwan, Taiwan, Province of China
  • Applied Materials UK Limited, United Kingdom

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

100000

Equity Shares

Rs.10/- each

Rs.1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

10708

Equity Shares

Rs.10/- each

Rs.0.107 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

01.04.2013 to 31.03.2014

 

(12 Months)

31.10.2011 to 31.03.2013

(17 Months and 1 Day)

01.11.2010 to 30.10.2011

 

(12 Months)

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.107

0.107

0.107

(b) Reserves & Surplus

1813.643

1523.979

1225.268

(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)

1813.750

1524.086

1225.375

 

 

 

 

(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

0.000

0.000

0.000

(d) long-term provisions

108.586

90.554

48.925

Total Non-current Liabilities (3)

108.586

90.554

48.925

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

336.239

179.745

96.616

(c) Other current liabilities

272.694

258.996

299.761

(d) Short-term provisions

83.745

70.300

57.815

Total Current Liabilities (4)

692.678

509.041

454.191

 

 

 

 

TOTAL

2615.014

2123.681

1728.492

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

506.940

441.089

362.505

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

18.518

17.317

2.216

(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)

86.515

59.516

23.486

(d)  Long-term Loan and Advances

586.117

458.122

326.204

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1198.090

976.044

714.411

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

1160.295

888.550

793.358

(d) Cash and cash equivalents

245.923

135.518

89.701

(e) Short-term loans and advances

10.706

15.298

87.378

(f) Other current assets

0.000

108.271

43.644

Total Current Assets

1416.924

1147.637

1014.080

 

 

 

 

TOTAL

2615.014

2123.681

1728.492

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

01.04.2013 to 31.03.2014

 

(12 Months)

31.10.2011 to 31.03.2013

(17 Months and 1 Day)

01.11.2010 to 30.10.2011

 

(12 Months)

 

SALES

 

 

 

 

Income

 

 

Other Income

 

 

 

 

TOTAL

3627.510

3951.970

2208.370

 

 

 

 

 

Less

EXPENSES

2997.300

3339.106

1877.880

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

630.210

612.864

330.490

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

191.287

193.330

86.897

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

438.923

419.534

243.593

 

 

 

 

 

Less

TAX

149.259

120.823

56.857

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

289.664

298.711

186.736

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

3627.512

3951.967

2208.373

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

27051.17

27896.05

17438.92

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

01.04.2013 to 31.03.2014

 

(12 Months)

31.10.2011 to 31.03.2013

(17 Months and 1 Day)

01.11.2010 to 30.10.2011

 

(12 Months)

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operating Activities

558.281

438.460

401.988

 

 

KEY RATIOS

 

PARTICULARS

 

 

01.04.2013 to 31.03.2014

 

(12 Months)

31.10.2011 to 31.03.2013

(17 Months and 1 Day)

01.11.2010 to 30.10.2011

 

(12 Months)

Net Profit Margin

(PAT/Total Income)

(%)

7.99

7.56

8.46

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

17.49

20.50

14.31

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.28

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.05

2.25

2.23

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

 01.11.2010 to

30.10.2011

(12 Months)

31.10.2011 to

31.03.2013

(17 Months and 1 Day)

01.04.2013 to

31.03.2014

(12 Months)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.107

0.107

0.107

Reserves & Surplus

1225.268

1523.979

1813.643

Net worth

1225.375

1524.086

1813.750

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

         01.11.2010 to

30.10.2011

(12 Months)

31.10.2011 to

31.03.2013

(17 Months and 1 Day)

01.04.2013 to

31.03.2014

(12 Months)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

2208.370

3951.970

3627.510

 

 

78.954

(8.210)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 01.11.2010 to

30.10.2011

(12 Months)

31.10.2011 to

31.03.2013

(17 Months and 1 Day)

01.04.2013 to

31.03.2014

(12 Months)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

2208.370

3951.970

3627.510

Profit

186.736

298.711

289.664

 

8.46%

7.56%

7.99%

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

No

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 financial years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

No

29

Profitability for last three financial 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

 

 

GENERAL INFORMATION

 

Subject was incorporated on 11 July 2003 as a private limited company under the Companies Act, 1956 (“the Act”). The Company is a subsidiary of Applied Material Inc., USA. The Company is engaged in the business of providing software development and engineering services including technical product support services and design services to its holding company. The registered office of the Company is at Bangalore, Karnataka. The Company is registered as a 100% export oriented unit (EOU) with the Software Technology Park of India and was eligible for a tax holiday up to 31 March 2011.

 

FINANCIAL HIGHLIGHTS

 

During the current period (i.e., 12 months) of operation the Company has achieved total income of Rs.3627.510 Million as compared to Rs.3951.970 Million of last period (i.e., 17 months and 1 day). Further the Company has achieved a net profit after tax of Rs.289.660 Million for the current period as compared to Rs.298.710 million of last period. The net profit after tax has increased as compared to last period.

 

 

BUSINESS OUTLOOK

 

The Company is engaged in providing software development in the nature of engineering services and support services provided to its ultimate parent company, Applied Materials, Inc. (“Applied Materials”) and has a business model of cost plus arrangement with Applied Materials, and revenue in respect of cost plus markup agreement is recognized based on the total costs, incurred on accrual basis.

 

In India, Applied Materials strongly advocates its “solar strategy” to enable lower cost-per-watt solutions for solar cell manufacturing with the goal of making solar power a significant alternative source of global energy. Applied Materials is focused on delivering equipment that helps customers dramatically reduce the cost of solar module manufacturing, by delivering significant advances inefficiency, productivity and yield, allowing customers to achieve cost-per-watt goal sat an accelerated rate.

 

To strengthen the industry, academia tie-up, Applied Materials has collaborated with IIT Bombay over the past 5 years to establish the Applied Materials Nano-manufacturing Laboratory and the Applied Materials Chemistry Laboratory for Energy and Nano-electronics (CLEAN) Lab at IIT Bombay campus. The Nano-manufacturing lab is India’s first 200mm semiconductor fabrication facility dedicated to university-industry research and one of the select few university based 200mm facilities across the globe. The CLEAN lab is a special R&D facility dedicated to the development of new materials that will find application in a variety of electronic and renew able energy focused innovations, including the fabrication of next generation solar cells.

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

  • Plant and Equipment
  • Furniture and Fixtures
  • 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, 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 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.66.11

UK Pound

1

Rs.101.03

Euro

1

Rs.70.77

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILITY 

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--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

 

77

 

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.