MIRA INFORM REPORT
|
Report No. : |
344214 |
|
Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUAWEI TECHNOLOGIES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SY No.37, 46, 45/3, 45/4 ETC., KNO 1540, Kundalahalli Village, Bangalore - 560037, Karnataka |
|
Tel. No.: |
91-80-49160700 |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.09.2000 |
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|
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Com. Reg. No.: |
08-027722 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 341.196 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200KA2000PTC027722 |
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|
|
|
IEC No.: |
0901000767 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRH00723C |
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|
|
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PAN No.: [Permanent Account No.] |
AAACH8599L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged into providing software development services. |
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|
|
|
No. of Employees
: |
2364 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8606000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2000, It is engaged in providing
software development services. For the FY 2014, the company has achieved revenue of Rs. 5064.290
Million but recorded average profitability margin of 5.00%. There is decline
of 28.32% in profit as compared to previous year, However, the company has adequate networth base marked by increase in
its reserves and there is favourable gap between trade payables and
receivables. Trade relations are fair. Business is active. Payments are slow but
correct. 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
|
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 DECLINED
Management non-cooperative (91-124-4774700)
LOCATIONS
|
Registered Office/R&D Center : |
SY No.37, 46,45/3,45/4 ETC, KNO 1540, Kundalahalli Village, Bangalore - 560037, Karnataka |
|
Tel. No.: |
91-80-49160700 |
|
Fax No.: |
91 -80-41507025 |
|
E-Mail : |
manilabhatia@huawei.com |
|
Website: |
www.huawei.com |
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|
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Head Offices 1: |
14th Floor, Tower C, Unitech Cyber Park, Sector-39, Gurgaon -122002, Haryana, India |
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Tel: |
91-124-4774700 |
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Fax: |
91-124-4774863 |
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Head Offices 2: |
9th Floor, Tower D, Unitech Cyber Park, Sector-39, Gurgaon -122002, Haryana, India |
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Tel: |
0091-124-4774700 |
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Fax: |
0091-124-4774863 |
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|
|
|
Head Offices 3: |
9th Floor, Vishwaroop IT Park, Behind Raghuleela Mall, Near Vashi Railway Station, Vashi, Navi Mumbai, India |
|
Tel: |
91-22-39580808 |
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Fax: |
91-22-39162116 |
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Delhi Office: |
6th Floor, Tower D, Unitech Cyber Park, Sector-39, Gurgaon-122002, Haryana, India |
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Training Center: |
12th Floor, Tower C, Unitech Cyber Park, Sector-39, Gurgaon-122002, Haryana, India |
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Tel: |
0091-124-4183100 |
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Fax: |
0091-124-4774863 |
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Reginal Office: |
Located at:
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DIRECTORS
As on 30.09.2014
|
Name : |
Wang Shengli |
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Designation : |
Director |
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Address : |
Level 46, Tower 2, KLCC, 58088, Kuala Lumpur, 58088, Malaysia |
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Date of Birth/Age : |
10.08.1963 |
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Date of Appointment : |
30.09.2009 |
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DIN No.: |
02413959 |
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Other Directorship:
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Name : |
Tao Jingwen |
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Designation : |
Director |
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|
Address : |
No. 9A, Block R, Phase II, Swan Castle, Hua Qiao Cheng Nanshan District, Shenzhen, 518053, China |
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Date of Birth/Age : |
14.10.1971 |
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Date of Appointment : |
30.09.2009 |
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DIN No.: |
02421397 |
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|
Name : |
Wei Wang |
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Designation : |
Director |
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Address : |
Flat No. 37, D Block, Diamond District, Apartment, Old Airport Road, Bangalore - 560008, Karnataka, India |
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Date of Birth/Age : |
26.08.1974 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
06931891 |
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KEY EXECUTIVES
|
Name : |
Mrs. Manila Bhatia |
|
Designation : |
Secretary |
|
Address : |
H. No 48, IInd Floor, 32nd Main, 5th Cross, ITI Layout, J.P. Nagar Ist Phase, Bangalore - 560078, Karnataka, India |
|
Date of Appointment : |
15.03.2007 |
|
PAN No.: |
AGLPA9218R |
|
|
|
|
Name : |
Mr. Virendra Singh Gupta |
|
Designation : |
Vice president |
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|
Name : |
Mr. Prabhugowda Biradar |
|
Designation : |
Vice president |
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|
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|
Name : |
Mr. Yatish Nagavalli Renganathan |
|
Designation : |
Vice president |
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|
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|
Name : |
Mr. Thangamani N |
|
Designation : |
Vice president |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Huawei Tech Investment Company Limited, PR China |
|
34119600 |
|
Huawei Technologies, (Netherlands) B.V., Netherlands |
|
16 |
|
|
|
|
|
Total |
|
34119616 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into providing software development services. |
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|
Products/Services : |
Software development services |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
2364 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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|
|
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Auditors : |
|
|
Name : |
B S R and Company Llp Chartered Accountants |
|
Address : |
Maruthi Info-Tech Center, 11-12/1, Inner Ring Road, Koramangala, Bangalore, Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
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Ultimate Holding
Company: |
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Intermediary
holding company: |
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Associate Company: |
CIN NO.:U64202HR2002FTC034937 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34500000 |
Equity Shares |
Rs.10/- each |
Rs. 345.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34119616 |
Equity Shares |
Rs.10/- each |
Rs. 341.196
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 |
341.196 |
341.196 |
341.196 |
|
(b) Reserves & Surplus |
2670.790 |
2417.302 |
2063.684 |
|
(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) |
3011.986 |
2758.498 |
2404.880 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2335.709 |
1184.823 |
220.192 |
|
(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 |
144.371 |
195.107 |
107.523 |
|
Total Non-current
Liabilities (3) |
2480.080 |
1379.930 |
327.715 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
23.745 |
1.027 |
215.170 |
|
(c) Other
current liabilities |
762.187 |
679.854 |
375.557 |
|
(d) Short-term
provisions |
245.587 |
270.067 |
247.820 |
|
Total Current
Liabilities (4) |
1031.519 |
950.948 |
838.547 |
|
|
|
|
|
|
TOTAL |
6523.585 |
5089.376 |
3571.142 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1105.676 |
1346.270 |
1051.283 |
|
(ii)
Intangible Assets |
0.815 |
1.829 |
7.213 |
|
(iii)
Capital work-in-progress |
2945.543 |
1557.343 |
596.671 |
|
(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) |
32.602 |
96.071 |
89.659 |
|
(d) Long-term Loan and Advances |
850.694 |
690.756 |
667.900 |
|
(e) Other
Non-current assets |
|
|
|
|
Total Non-Current
Assets |
4935.330 |
3692.269 |
2412.726 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
263.823 |
622.484 |
316.259 |
|
(d) Cash
and cash equivalents |
776.109 |
763.788 |
422.453 |
|
(e)
Short-term loans and advances |
130.242 |
10.835 |
17.671 |
|
(f) Other
current assets |
418.081 |
|
402.033 |
|
Total
Current Assets |
1588.255 |
1397.107 |
1158.416 |
|
|
|
|
|
|
TOTAL |
6523.585 |
5089.376 |
3571.142 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
5064.290 |
4974.000 |
4782.430 |
|
|
Other Income |
14.300 |
35.890 |
96.820 |
|
|
TOTAL
|
5078.590 |
5009.890 |
4879.250 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
4212.580 |
4206.250 |
4210.510 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
866.010 |
803.640 |
668.740 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.430 |
0.800 |
1.200 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
865.580 |
802.040 |
667.540 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
365.840 |
345.960 |
228.550 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
499.740 |
456.080 |
438.990 |
|
|
|
|
|
|
|
Less |
TAX |
246.250 |
102.460 |
143.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
253.490 |
353.620 |
295.790 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
5064.293 |
4974.003 |
N.A |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
301.826 |
673.216 |
N.A |
|
|
TOTAL
IMPORTS |
301.826 |
673.216 |
N.A |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
7.43 |
10.36 |
8.67 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
209.615 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(43.494) |
1028.009 |
374.826 |
|
Net cash flows from (used in) operating activities |
(171.059) |
929.273 |
205.600 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.01 |
7.11 |
6.18 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
17.10 |
16.16 |
13.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.10 |
13.27 |
15.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.17 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
0.43 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54 |
1.47 |
1.38 |
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 |
341.196 |
341.196 |
341.196 |
|
Reserves & Surplus |
2063.684 |
2417.302 |
2670.790 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2404.880 |
2758.498 |
3011.986 |
|
|
|
|
|
|
long-term borrowings |
220.192 |
1184.823 |
2335.709 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
220.192 |
1184.823 |
2335.709 |
|
Debt/Equity
ratio |
0.092 |
0.430 |
0.775 |
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 |
4782.430 |
4974.000 |
5064.290 |
|
|
|
4.006 |
1.815 |
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 |
4782.430 |
4974.000 |
5064.290 |
|
Profit |
295.790 |
353.620 |
253.490 |
|
|
6.18% |
7.11% |
5.01% |
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
Huawei Technologies India Private Limited was incorporated in India on 4 September 2000 as a private limited company under the Companies’ Act, 1956. The Company is a subsidiary of Huawei Tech. Investment Company Limited Hong Kong (‘Huawei Hong Kong’). Huawei Technologies Company Limited, Shenzhen (‘Huawei China’) is the Intermediary holding Company, Huawei Investment and Holding company Limited is the Ultimate Holding Company.
The Company is registered as a 100 per cent export oriented unit and is a member of the Software Technology Parks of India (‘STPI’) scheme at Bangalore . The Company provides software development services to Huawei China .
OVERVIEW:
During the financial year 2013-14, the Company recorded total income from Software services of Rs 5064.290 million as compared to Rs.4974.00 million in the previous year.
The profit before tax for the year has increased from Rs. 456.080 million to Rs. 499.740 million.
Technology and
product development
Huawei Technologies India is the first overseas R&D center of Huawei Technologies Company Limited. a leading global information and communications technology (ICT) solutions provider. Indian R&D center is engaged in development & delivery of high-end communication software platforms / components / applications in the areas of ICT protocols, Telecom Middleware, Business Intelligence, Big Data, BSS, OSS, Service Delivery Platform, Digital Home, Digital Enterprise, Data Networks, Optical Transmission Network, Software Defined Network, Smartphones, Mobile Broadband, Set Top Box; and global services delivery covering system integration, managed services, application development and management, etc.
The India R&D center has evolved as a key platform/component development and delivery center of Huawei for the local and international markets and has ownership of almost all software platforms, components and products being developed in India.
Huawei India R&D Center is engaged in full life-cycle product development of cutting edge telecom solutions with its key strengths in information security and maturity of processes
The platforms and components delivered by the India center have been deployed for majority of global leading operators including Vodafone, T-mobile, China Mobile, KPN (Holland), Deutsche Telekom, and Megafon
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term loans from other |
748.625 |
0.000 |
|
|
|
|
|
Total |
748.625 |
0.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Bank guarantees to custom authorities |
11.615 |
11.615 |
|
Claims against the company not acknowledge as debts in respect of - Income tax matters |
365.997 |
369.469 |
The Company has received a notice of demand under Section 156 of the Income Tax Act, 1961 for Rs. 55.679 Million AY 2006-07 (year ended 31 March 2006), Rs. 99.725 Million for AY 2007-08 (year ended 31 March 2007), Rs. 73.103for AY 2008-09 (year ended 31 March 2008), Rs. 73.281 Million for AY 2009-10 (year ended 31 March 2009) and Rs. 64.206 Million for AY 2010-11(year ended 31 March 2010); these demand are for mark-up adjustments proposed by the Income Tax Department. The Company has filed appeals before the relevant tax authorities and the Management believes that the Company has strong grounds to defend its case and accordingly no provision has been made in the books. Against the demands, the Company has paid Rs. 111.687 Million (previous year: Rs. 151.687 Million) under protest. Additionally the Company is also involved in other disputes, lawsuits and claims including commercial matters, which arise in from time to time in the ordinary course of business. The Company believes that there are no such pending matters that are expected to have any material adverse effect on its financial statement in many given accounting year.
FIXED ASSETS
- Land
- Furniture and fixtures
- Vehicles
- Office equipment
- Office equipment
- Computer
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.