MIRA INFORM REPORT
|
Report No. : |
350386 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI HITACHI POWER SYSTEMS INDIA PRIVATE LIMITED (w.e.f.
03.04.2014) |
|
|
|
|
Formerly Known
As : |
MITSUBISHI POWER SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8B, 8th Floor, Lotus Towers, Community Center, New Friends Colony, New
Delhi-110025 |
|
Tel. No.: |
91-11-49824400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.09.2011 |
|
|
|
|
Com. Reg. No.: |
55-225628 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29292DL2011FTC225628 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELM20229G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCM4491K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in supply,
installation, consultancy, marketing and maintenance service of power
generation and prime mover products and systems. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 353800 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Mitsubishi Hitachi Power
Systems Limited. The name of the company has been changed from Mitsubishi Power
Systems India Private Limited to Mitsubishi Hitachi Power Systems India
Private Limited with effect from 3rd April 2014. The rating takes into consideration sound financial risk profile of
the company marked by adequate networth base and comfortable debt level in
the year 2014. Further the company has reported decent increase in its
revenue base along with fair profit margin in the year under consideration. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong support from its parent company, the company can be
considered for business dealings with some caution. |
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 DECLINED BY
|
Name : |
Mr. Arjun Nayar |
|
Contact No.: |
91-9986592854 |
|
Date : |
19.11.2015 |
LOCATIONS
|
Registered/ Sales Office : |
8B, 8th Floor, Lotus Towers, Community Center, New Friends Colony, New
Delhi-110025, India |
|
Tel. No.: |
91-11-49824400 |
|
Mobile No.: |
91-9986592854 (Mr. Arjun Nayar) |
|
Fax No.: |
91-11-49824450 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
Engineering
Office (HQ) :
|
6th Floor, Pride Hulkul, No. 116, Lalbagh Road, Bangalore-560027, Karnataka, India |
Tel.
No.:
|
91-80-67187187 |
Fax
No.:
|
91-80-67187188 |
DIRECTORS
AS ON 19.09.2014
|
Name : |
Mr. Masayuki Kubo |
|
Designation : |
Managing director |
|
Address : |
3-18-11, Daiyarando, Nagasaki-Shi, Nagasaki-Ken, Nagasaki, 00000,
Japan |
|
Date of Birth/Age : |
15.08.1952 |
|
Date of Appointment : |
28.09.2011 |
|
PAN No.: |
CHRPK2325Q |
|
DIN No.: |
01585730 |
|
|
|
|
Name : |
Mr. Masakazu Uetani |
|
Designation : |
Whole-time director |
|
Address : |
D-96, Defence Colony, New Delhi-110024, India |
|
Date of Birth/Age : |
27.01.1958 |
|
Date of Appointment : |
18.06.2014 |
|
DIN No.: |
06870380 |
|
|
|
|
Name : |
Mr. Satoshi Hoshi |
|
Designation : |
Director |
|
Address : |
Garden Kamata 713, 1-3-13, Nishi Kamata, Ota-ku, Tokyo, NA, JAPAN |
|
Date of Birth/Age : |
01.01.1963 |
|
Date of Appointment : |
25.08.2014 |
|
DIN No.: |
06931596 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mitsubishi Hitachi Power Systems India Private Limited, Japan |
|
4940100 |
|
Mitsubishi Hitachi Power Systems Asia Pacific Pte Limited, Singapore |
|
49900 |
|
Total |
|
4990000 |
AS ON 01.12.2014
|
Names of Allottees |
|
No. of Shares |
|
Mitsubishi Hitachi Power Systems India Private Limited (Service) |
|
6502500 |
|
|
|
|
|
Total |
|
6502500 |
AS ON 19.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in supply, installation, consultancy, marketing and maintenance
service of power generation and prime mover products and systems. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohinder
Puri and Company Chartered Accountants |
|
Address : |
1A-D
Vandana11, Tolstoy Marg, Connaught Place, New Delhi-110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM9269R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
·
Mitsubishi Hitachi Power Systems Limited,
Japan ( from 1st February 2014 ) ·
Mitsubishi Heavy Industries Limited, Japan
( upto 31st January 2014) |
|
|
|
|
Ultimate Holding Company : |
Mitsubishi
Heavy Industries Limited, Japan ( from 1st February 2014) |
|
|
|
|
Fellow Subisidary Companies : |
·
Mitsubishi Power Systems Asia Pacific Pte
Limited, Singapore ·
Mitsubishi Heavy Industries India Private
Limited, India (U29299DL2005PTC133062) ·
Mitsubishi Heavy Industries Limited, Dubai ·
MHI Accounting Service Limited, Japan ·
Mitsubishi Power Systems, America., Inc ·
MPS Canada Inc ·
PW Power Systems Inc,. USA ·
MHI Engineering Engineering Vienna., Gmbh · Hitachi Mitsubishi Hydro Corporation |
|
|
|
|
Associate Company : |
·
L&T-MHI Boilers Private Limited, india
(U29119MH2006PTC165102) · L&T-MHI Turbine Generators Private Limited, India (U31101MH2006PTC166541) |
CAPITAL STRUCTURE
AFTER 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11502500 |
Equity Shares |
Rs. 10/- each |
Rs. 115.025 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11492500 |
Equity Shares |
Rs. 10/- each |
Rs. 114.925 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,990,000 |
Equity Shares |
Rs. 10/- each |
Rs. 49.900
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 |
49.900 |
49.900 |
49.900 |
|
(b) Reserves & Surplus |
73.951 |
20.425 |
8.833 |
|
(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) |
123.851 |
70.325 |
58.733 |
|
|
|
|
|
|
(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 |
12.033 |
7.683 |
4.481 |
|
Total
Non-current Liabilities (3) |
12.033 |
7.683 |
4.481 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
204.107 |
149.815 |
0.000 |
|
(b)
Trade payables |
468.354 |
28.811 |
27.204 |
|
(c)
Other current liabilities |
358.774 |
397.250 |
15.150 |
|
(d)
Short-term provisions |
0.435 |
0.373 |
3.075 |
|
Total
Current Liabilities (4) |
1031.670 |
576.249 |
45.429 |
|
|
|
|
|
|
TOTAL |
1167.554 |
654.257 |
108.643 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
46.170 |
40.454 |
6.341 |
|
(ii)
Intangible Assets |
7.641 |
8.192 |
6.375 |
|
(iii)
Capital work-in-progress |
0.000 |
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) |
3.460 |
1.825 |
0.247 |
|
(d) Long-term Loan
and Advances |
41.156 |
44.705 |
5.400 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
98.427 |
95.176 |
18.363 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
597.298 |
112.430 |
30.137 |
|
(d)
Cash and cash equivalents |
117.039 |
41.271 |
39.480 |
|
(e)
Short-term loans and advances |
340.674 |
386.727 |
4.612 |
|
(f)
Other current assets |
14.116 |
18.653 |
16.051 |
|
Total
Current Assets |
1069.127 |
559.081 |
90.280 |
|
|
|
|
|
|
TOTAL |
1167.554 |
654.257 |
108.643 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2296.894 |
452.589 |
88.149 |
|
|
|
Other Income |
0.461 |
0.000 |
0.502 |
|
|
|
TOTAL |
2297.355 |
452.589 |
88.651 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
235.677 |
41.290 |
|
|
|
Other expenses |
|
180.033 |
33.154 |
|
|
|
TOTAL |
2209.079 |
415.710 |
74.444 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial Expenses) |
36.879 |
14.207 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
11.546 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
88.276 |
25.333 |
14.207 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.767 |
7.466 |
0.936 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD ITEMS |
(30.923) |
1.333 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
102.432 |
16.534 |
13.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
48.907 |
4.942 |
4.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
53.525 |
11.592 |
8.833 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Rendering
of Services |
606.092 |
257.812 |
64.180 |
|
|
|
F.O.B.
Value of Exports |
1610.772 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
2216.864 |
257.812 |
64.180 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase
of Traded Goods |
549.669 |
0.000 |
5.647 |
|
|
TOTAL IMPORTS |
549.669 |
0.000 |
5.647 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.73 |
2.32 |
1.77 |
|
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 |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.33 |
2.56 |
10.02 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
8.15 |
16.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.80 |
2.53 |
12.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.83 |
0.24 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.65 |
2.13 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.97 |
1.99 |
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 |
49.900 |
49.900 |
49.900 |
|
Reserves & Surplus |
8.833 |
20.425 |
73.951 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
58.733 |
70.325 |
123.851 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
149.815 |
204.107 |
|
Total
borrowings |
0.000 |
149.815 |
204.107 |
|
Debt/Equity
ratio |
0.000 |
2.130 |
1.648 |
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 |
88.149 |
452.589 |
2296.894 |
|
|
|
413.436 |
407.501 |
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 |
88.149 |
452.589 |
2296.894 |
|
Profit |
8.833 |
11.592 |
53.525 |
|
|
10.02% |
2.56% |
2.33% |
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 |
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 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 is a private
company domiciled in India and incorporated under the provisions of the
Companies Act, 1956, vide fresh certificate of incorporation upon change in
name dated 3rd April 2014. Initially, the Company was incorporated under the
name ? Mitsubishi Power Systems India Private Limited? vide certificate dated
28 th September 2011.
The Company is engaged in
supply, installation, consultancy, marketing and maintenance service of power
generation and prime mover products and systems.
OPERATIONS AND PROSPECTS
During the financial year,
the Company registered total turnover of Rs. 2296.900 Million as compare to Rs.
452.600 Million for the previous year showing a steep increase of approx. 407%.
The turnover includes the revenue from the service fee. Similarly the
expenditure for the same period was Rs. 2209.000 Million as compared to
Rs.427.200 Million for the previous year i.e. increase of approx.417%. The
aforesaid increase in total turnover and the expenditures were mainly
attributed to increase in manifold the operations of the Company and increase
in the trading activities of the Company during the current year.
The profit after
depreciation and before tax in the current year increased to Rs. 71.500 Million
as compared to Rs. 17.800 Million for the previous year and the net profit for
the current year also increased to Rs. 53.500 Million comparing to Rs. 11.600
Million for the previous year i.e. increase by approx. 361% as compared to
previous year.
The
directors are expecting the same increasing trend in the years to come.
FUTURE PROSPECTS
The Company is giving more
emphasis on increasing its trading activities and the procurement activities in
India has been gearing up. The more concentration is being given to explore the
potential vendors in the domestic market. The service engineers of the Company
are being trained by the technical experts from the Parent Company and they are
being given the opportunities in the domestic as well as overseas projects of
the Company.
As the business
opportunities in domestic market is not very favourable, the Company is
expanding its operations in overseas markets. The directors are pleased to
inform you that during the year, the Company has established an overseas branch
in Dubai, (UAE) in Dubai Airport Free Zone Authority (DAFZA) area in the name
of Mitsubishi Hitachi Power Systems India Private Limited (Branch). The
overseas projects of the Company is being handled and executed by the said
overseas branch. Subsequent to the business integration of power divisions of
MHI, Japan and Hitachi Inc., Japan, worldwide, the business opportunities of
the company has increased tremendously. Post business integration, the Company
is benefitted with the highly advance technology and the long range of products
and it results in enhancing its ability to address customer needs by provide
service by taking advantage of their respective strengths in providing total
solutions across all aspects of thermal power plants.
Thr Company is expecting
the improvement in the domestic business opportunities of the Company during
the next year after change in the Government Policies. The Company is exploring
the business opportunities in India and targeting the potential customers.
The Company believe that
the most important asset in a company is people. Therefore, the basic approach
regarding our human resources system is to create a workplace where employees
can fully demonstrate their skills and capabilities, and to develop an environment
where each employee can maximize his or her potential. In this regard, the
Company has implemented various welfare schemes and policies for its employees
during the year to keep its employees motivated and enhancing its retention
efforts. Keeping in view of the above measures taken by the Company, the
directors are expecting the enhancement and expansion of business operations
and profitability of the Company in near future.
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted Unit No. 6A-2, 6th
Floor, Lotus Towers, Commumity Centre, New Friends Colony, new Delhi-110025,
India from to the present address w.e.f 01.12.2013
FIXED ASSETS:
Tangible Assets
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
· Leasehold Improvements
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,
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. 66.38 |
|
|
1 |
Rs. 100.45 |
|
Euro |
1 |
Rs. 70.55 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.