MIRA INFORM REPORT
|
Report No. : |
351824 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NSK-ABC BEARINGS PRIVATE LIMITED (w.e.f. 01.08.2014) |
|
|
|
|
Formerly Known
As : |
NSK-ABC BEARINGS LIMITED (w.e.f. 30.03.2007) NSK BEARINGS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A2, SIPCOT Growth Centre, Oragadam, Mathur Village,
Sriperumbudur Taluk, Chennai – 602105, Tamilnadu |
|
Tel. No.: |
91-44-27143000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
02.03.2006 |
|
|
|
|
Com. Reg. No.: |
18-059088 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130TN2006PTC059088 |
|
|
|
|
IEC No.: |
0407004831 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN05612F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN2689K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of bearings automotive industry. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of "NSK LIMITED", Japan. It is an established company incorporated in the year 2006 having satisfactory track. The company has incurred some accumulated losses However, the rating takes into consideration company's strong capital base, debt free balance sheet and favorable gap between trade payables and trade receivables. Further} the rating also derives strength from its holding company and its experienced management. 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
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. Rajaram |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-44-27143016 |
|
Date : |
25.11.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A2, SIPCOT Growth Centre, Oragadam, Mathur Village,
Sriperumbudur Taluk, Chennai – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27143000 |
|
Fax No.: |
91-44-27143099 |
|
E-Mail : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Hisaya Tabuchi |
|
Designation : |
Managing director |
|
Address : |
5-F, Kartic Dev Apartment, 17, Sundararrjan Street, Abhiramapuram –
600018, Chennai, India |
|
Date of Birth/Age : |
01.05.1965 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No. : |
06805381 |
|
Name : |
Mr. Natarajan Lakshminarayanan |
|
Designation : |
Director |
|
Address : |
34, Fourth Trust Cross Street, Mandavelli, Chennai – 600 028,
Tamilnadu, India |
|
Date of Birth/Age : |
25.11.1964 |
|
Date of Appointment : |
02.03.2006 |
|
DIN No.: |
00008692 |
|
Name : |
Mr. Pradip Manubhai Patel |
|
Designation : |
Director |
|
Address : |
318, Samudra Mahal, Dr. Annie Besant Road, Worli, Mumbai – 400 016,
Maharashtra, India |
|
Date of Birth/Age : |
05.11.1947 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
10.07.2007 |
|
DIN No.: |
00012138 |
|
Name : |
Mr. Tanuj Manubhai Patel |
|
Designation : |
Director |
|
Address : |
Turf View, A Wing, Nehru Planetorium Road, Worli, Mumbai – 400 016,
Maharashtra, India |
|
Date of Birth/Age : |
07.12.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
10.07.2007 |
|
DIN No.: |
00016788 |
|
Name : |
Mr. Ajit Krishnan |
|
Designation : |
Director |
|
Address : |
Unit No.1, 17, Arch Bishop Math, IAS Avenue, Boat Club Road, R.A. Puram,
Chennai – 600 028, Tamilnadu, India |
|
Date of Birth/Age : |
12.11.1958 |
|
Date of Appointment : |
27.07.2014 |
|
DIN No.: |
01630599 |
|
Name : |
Mr. Akitoshi Ichii |
|
Designation : |
Director |
|
Address : |
Flat No. B1, MLS Apartments 9, Dr. B. Narssimhan Road, 2nd
Street, T. Nagar, Chennai – 600 017, Tamilnadu, India |
|
Date of Birth/Age : |
08.05.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
05336693 |
|
Name : |
Shigeyuki Suzuki |
|
Designation : |
Director |
|
Address : |
1-4-14-1601 Bakurocho, Nihonbashi Chuo-ku, Tokyo, 1030002,
Japan |
|
Date of Appointment : |
18.11.2014 |
|
DIN No.: |
07059862 |
|
|
|
|
Name : |
Kazuhiro Hanaya |
|
Designation : |
Alternate director |
|
Address : |
Flat G22, Nest Apartments, Off Cenotaph Road, 9, Rathina
Nagar Main Road, Teynampet, Chennai - 600018, Tamilnadu, India |
|
Date of Appointment : |
18.11.2014 |
|
DIN No.: |
07075187 |
|
|
|
|
Name : |
Naokazu Tsuji |
|
Designation : |
Additional director |
|
Address : |
6th Floor, Bannari Amman Towers, 29, Dr. Radha Krishnan
Salai, Mylapore, Chennai - 600004, Tamilnadu, India |
|
Date of Appointment : |
23.10.2015 |
|
DIN No.: |
07340504 |
|
|
|
|
Name : |
Kunihiko Akashi |
|
Designation : |
Alternate director |
|
Address : |
Door No.65/32, Athithi 1st Main Road,, Indira Nagar, Adyar, Chennai, 600020, Tamilnadu, India |
|
Date of Appointment : |
18.11.2014 |
|
DIN No.: |
06557611 |
KEY EXECUTIVE
|
Name : |
Mr. Rajaram |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.07.2014
|
Names of Shareholders |
No. of Shares |
|
ABC Bearing Limited, India |
12500000 |
|
NSK Limited, Japan |
487499995 |
|
Akitoshi Ichii |
1 |
|
Masatoshi Matsuda |
1 |
|
Toshihiro Uchiyama |
1 |
|
Natarajan L. |
1 |
|
Ajit Krishnan |
1 |
|
Total |
500000000 |
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 |
97.00 |
|
Bodies corporate |
3.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of bearings automotive industry. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
|
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Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
6th and 7th Floor, "A" Block TIDEL Park (Module 601, 701 and 702) No. 4, Rajiv Gandhi Salai, Taramani, Chennai - 600 113, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
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|
Holding Company : |
|
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|
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|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs.5000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs.5000.000 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 |
5000.000 |
5000.000 |
5000.000 |
|
(b) Reserves & Surplus |
(995.144) |
(971.801) |
(1028.824) |
|
(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) |
4004.856 |
4028.199 |
3971.176 |
|
|
|
|
|
|
(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 |
6.145 |
3.741 |
3.051 |
|
Total
Non-current Liabilities (3) |
6.145 |
3.741 |
3.051 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
314.883 |
234.648 |
327.761 |
|
(c) Other current liabilities |
39.752 |
25.030 |
37.370 |
|
(d) Short-term provisions |
4.565 |
2.977 |
2.682 |
|
Total
Current Liabilities (4) |
359.200 |
262.655 |
367.813 |
|
|
|
|
|
|
TOTAL |
4370.201 |
4294.595 |
4342.040 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2226.786 |
2317.992 |
2461.021 |
|
(ii) Intangible Assets |
0.000 |
1.988 |
4.050 |
|
(iii) Capital work-in-progress |
93.145 |
90.761 |
60.131 |
|
(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 |
317.687 |
83.953 |
53.050 |
|
(e) Other Non-current assets |
15.821 |
15.621 |
16.043 |
|
Total
Non-Current Assets |
2653.439 |
2510.315 |
2594.295 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
736.410 |
483.082 |
655.359 |
|
(c) Trade receivables |
322.633 |
303.698 |
376.195 |
|
(d) Cash and cash equivalents |
527.239 |
695.047 |
351.553 |
|
(e) Short-term loans and
advances |
106.763 |
292.194 |
352.788 |
|
(f) Other current assets |
23.717 |
10.259 |
11.850 |
|
Total
Current Assets |
1716.762 |
1784.280 |
1747.745 |
|
|
|
|
|
|
TOTAL |
4370.201 |
4294.595 |
4342.040 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2531.670 |
2345.980 |
2385.984 |
|
|
Other Income |
71.380 |
49.120 |
(44.873) |
|
|
TOTAL
(A) |
2603.050 |
2395.100 |
2341.111 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
1615.138 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
156.336 |
|
|
Employees benefits expense |
|
|
122.923 |
|
|
Other expenses |
|
|
310.566 |
|
|
TOTAL
(B) |
2621.720 (Including
Financial Expenses and Depreciation) |
2338.080 (Including
Financial Expenses and Depreciation) |
2204.963 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
136.148 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
22.040 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
114.108 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
164.921 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(18.670) |
57.020 |
(50.813) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(18.670) |
57.020 |
(50.813) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
350.473 |
213.139 |
21.150 |
|
|
TOTAL
EARNINGS |
350.473 |
213.139 |
21.150 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials and consumables |
1140.164 |
923.568 |
1365.249 |
|
|
Capital goods |
20.233 |
10.884 |
254.708 |
|
|
TOTAL
IMPORTS |
1160.397 |
934.452 |
1619.957 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.04) |
0.11 |
(0.13) |
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 |
19.112 |
458.781 |
17.097 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(0.74) |
2.43 |
(2.13) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
NA |
5.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.44) |
1.36 |
(1.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.01 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.78 |
6.79 |
4.75 |
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 |
5000.000 |
5000.000 |
5000.000 |
|
Reserves & Surplus |
(1028.824) |
(971.801) |
(995.144) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3971.176 |
4028.199 |
4004.856 |
|
|
|
|
|
|
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2385.984 |
2345.980 |
2531.670 |
|
|
|
(1.677) |
7.915 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2385.984 |
2345.980 |
2531.670 |
|
Profit |
(50.813) |
57.020 |
(18.670) |
|
|
(2.13%) |
2.43% |
(0.74%) |
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 |
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 was incorporated during March 2006, as a joint venture between NSK Limited, Japan and ABC Bearings Limited, India (for the purpose of manufacturing bearings primarily for supply to automotive industry). In the current year the Company has converted into a private limited company.
FINANCIAL PERFORMANCE
Sales (net of Excise Duty) during the year ended 31st March 2015 were Rs.2532.000 Million as against Rs.2346.000 Million in the previous year.
Despite the increased top-line in FY 2014-15, the Company faced challenges towards increasing steel prices, continuous pressure on the pricing and weak demand. However, with the new stable Indian government and also the positive outlook on the economy supported the marginal recovery in domestic automotive sector which helped the company to achieve a moderate top-line growth. Amid challenging times, recently there has been an uptick in the volumes in automotive sector with the pick-up in industrial activity and infrastructure spending planned over the next two-three years.
The company has also taken steps to increase the export volume to Rs.350.000 Million from Rs.213.000 Million in the previous year to circumvent the volume pressure in the domestic market. With the support of their customers, suppliers and employees, they were able to maintain and achieve the targeted volumes.
During the year, the Company’s sales and operating revenues improved marginally over the previous year. The net loss was Rs.18.670 Million as against the profit of Rs.57.020 Million in the previous year.
While the economic recovery is expected to revive industrial and automotive segment demand, their focus is on shareholder value and growth with profitability and the Directors are poised that the ensuing year would provide plentiful scope for taming the capacity utilization with utmost focus on quality, cost and delivery.
FIXED ASSETS
Tangible assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
· 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 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. 66.55 |
|
|
1 |
Rs. 100.64 |
|
Euro |
1 |
Rs. 70.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.