MIRA INFORM REPORT
|
Report No. : |
344655 |
|
Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRUETZSCHLER INDIA PRIVATE LIMITED (w.e.f.21.05.2010) |
|
|
|
|
Formerly Known
As : |
TRUMAC ENGINEERING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
43, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400023, Maharashtra |
|
Tel No. : |
91-22-22872245 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
02.07.1977 |
|
|
|
|
Com. Reg. No.: |
11-019735 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.73.650 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28100MH1977PTC019735 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT2153N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Process Machinery for Textile Machines. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
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Comments : |
Subject is a subsidiary of “ABIC GmbH” Germany. It is an established company incorporated in the year 1977 having a
good track record. Financial position of the company is strong. Balance sheet of the
company is debt free. Fundamentals of the company are healthy. Promoters are reported to be well experienced and respectable
businessman. The company also receives strong operational and managerial support
from its holding company. Trade relations are reported as fair. Business is active. Payment terms
are reported as regular and as per commitment. In view of long track record, strong financial base and support from
its holding company, the company can be considered good for normal 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 |
CARE |
|
Rating |
Long Term Bank Facilities = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
08.01.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
08.01.2015 |
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 BY
|
Name : |
Mr. K.K. Bhavsar |
|
Designation : |
Finance Head |
|
Contact No.: |
91-79-30411141 |
|
Date : |
21.08.2015 |
LOCATIONS
|
Registered Office : |
43, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22872245 |
|
Fax No.: |
91-22-22041690 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
N.I.D.C. Estate, Near Lambha Village, Post Narol Ahmedabad – 382405,
Gujarat, India |
|
Tel. No.: |
91-79-25710608 / 30411100 |
|
Fax No.: |
91-79-25710617 |
|
E-Mail : |
DIRECTORS
As on 29.03.2014
|
Name : |
Mr. Anuj Atul Bhagwati |
|
Designation : |
Director |
|
Address : |
Nishant, 6 M. L. Dahanukar Marg, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1968 |
|
Date of Appointment : |
30.09.2005 |
|
Voter ID No.: |
MT/04/024/231513 |
|
DIN No.: |
00094776 |
|
|
|
|
Name : |
Heinrich Karl Gerhard Trutzschler |
|
Designation : |
Director |
|
Address : |
Schomolder Strasse, 92 41239, |
|
Date of Birth/Age : |
28.02.1957 |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00240511 |
|
|
|
|
Name : |
Dirk Burger |
|
Designation : |
Director |
|
Address : |
Nikolaus-Lauxen, Street-10, |
|
Date of Birth/Age : |
09.11.1960 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
02238034 |
|
|
|
|
Name : |
Mr. Michael Schurenkramer |
|
Designation : |
Director |
|
Address : |
Schomolder Strasse, 253 41239, |
|
Date of Birth/Age : |
17.11.1954 |
|
Date of Appointment : |
31.03.1995 |
|
DIN No.: |
00222384 |
|
|
|
|
Name : |
Mr. Jayesh Priyakant Bhatt |
|
Designation : |
Director / Senior Vice President (Operations) |
|
Address : |
17 B, Madhu Kunj Society, Near Kashivishw Anath, Mahadev, Maninag AR
East, Ahmedabad - 380008, Gujarat, India |
|
Date of Birth/Age : |
10.03.1956 |
|
Qualification : |
B.com, AICWA,
FCA |
|
Experience : |
27 Years |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00119536 |
|
|
|
|
Name : |
Thomson Joseph Nadackel |
|
Designation : |
Director |
|
Address : |
Botel Ho Cintia Maria H No. 781, Talcond Raia Salcete Goa – 403720,
India |
|
Date of Birth/Age : |
03.11.1968 |
|
Date of Appointment : |
29.03.2014 |
|
DIN No.: |
06750125 |
|
|
|
|
Name : |
Mr. Girish Chinubhai Sharedalal |
|
Designation : |
Director |
|
Address : |
Landmark 111, M. L. Dahanukar Marg, Gamadia Hill, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
05.10.1932 |
|
Date of Appointment : |
29.03.2014 |
|
Voter ID No.: |
MT004024273098 |
|
DIN No.: |
00066058 |
KEY EXECUTIVES
|
Name : |
Mr. Parth Alpeshkumar Shah |
|
Designation : |
Secretary |
|
Address : |
B/9, Parasmani Society, Jawahar Chowk, Sabarmati, Ahmedabad – 380005,
Gujarat, India |
|
Date of Birth/Age : |
16.11.1987 |
|
Date of Appointment : |
30.08.2012 |
|
PAN No.: |
CMMPS9165G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.03.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
A.T.E. Private Limited, India |
368250 |
5.00 |
|
ABIC |
6996750 |
95.00 |
|
|
|
|
|
Total |
7365000 |
100.00 |
As on 29.03.2014
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 |
95.00 |
|
Bodies corporate |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Process Machinery for Textile Machines. |
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Products : |
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Brand Names : |
“Trutzschler” |
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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 : |
Not Divulged |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
N. A Shah Associates Chartered Accountants |
|
Address : |
B 41-45, Paragon
Centre, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra, India |
|
PAN
No. : |
AAAFN5380N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
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|
Holding Company : |
ABIC GmbH |
|
|
|
|
Fellow subsidiaries
of ABIC GmbH : |
v Truetzschler Textile Machinery (Shanghai) Company Limited v Truetzschler Industriae Comercio de Maquinas Ltda. v American Truetzschler Inc. v Truetzschler Nonwovens GmbH v Truetzschler Nonwovens Man-Made Fibres GmbH v Truetzschler Switzerland AG |
|
|
|
|
Associates of ABIC GmbH
: |
v Truetzschler GmbH and Company KG v Truetzschler Card Clothing GmbH |
|
|
|
|
Other related
parties : |
v A.T.E. Enterprises Private Limited v A.T.E. Private Limited v Zinser Textile Systems Private Limited v Trumac Employees Group Gratuity Trust v Trumac Engineering Company Limited Officers? Superannuation Trust |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7365000 |
Equity Shares |
Rs.10/- each |
Rs.73.650 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
73.650 |
73.650 |
73.650 |
|
(b) Reserves & Surplus |
1704.993 |
1370.861 |
1218.977 |
|
(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) |
1778.643 |
1444.511 |
1292.627 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
17.308 |
29.381 |
41.466 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.044 |
9.046 |
1.033 |
|
Total Non-current
Liabilities (3) |
26.352 |
38.427 |
42.499 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
36.190 |
|
(b) Trade
payables |
639.187 |
682.813 |
527.933 |
|
(c) Other current
liabilities |
910.085 |
933.263 |
744.861 |
|
(d) Short-term
provisions |
186.609 |
193.977 |
215.644 |
|
Total Current
Liabilities (4) |
1735.881 |
1810.053 |
1524.628 |
|
|
|
|
|
|
TOTAL |
3540.876 |
3292.991 |
2859.754 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
970.784 |
984.101 |
1053.427 |
|
(ii)
Intangible Assets |
22.381 |
41.409 |
51.195 |
|
(iii)
Capital work-in-progress |
35.040 |
0.064 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.044 |
|
(b) Non-current Investments |
138.882 |
138.959 |
138.959 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
116.472 |
91.629 |
45.855 |
|
(e) Other
Non-current assets |
122.753 |
159.374 |
116.613 |
|
Total Non-Current
Assets |
1406.312 |
1415.536 |
1406.093 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1470.299 |
1273.640 |
946.249 |
|
(c) Trade
receivables |
457.804 |
467.274 |
359.938 |
|
(d) Cash
and cash equivalents |
27.234 |
31.257 |
66.225 |
|
(e)
Short-term loans and advances |
147.194 |
72.994 |
52.991 |
|
(f) Other
current assets |
32.033 |
32.290 |
28.258 |
|
Total
Current Assets |
2134.564 |
1877.455 |
1453.661 |
|
|
|
|
|
|
TOTAL |
3540.876 |
3292.991 |
2859.754 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5775.310 |
4714.600 |
3419.980 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
1033.860 |
831.710 |
482.290 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11.040 |
19.440 |
20.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1022.820 |
812.270 |
462.230 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
135.780 |
127.580 |
115.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
887.040 |
684.690 |
347.210 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
293.300 |
231.510 |
109.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
593.740 |
453.180 |
237.700 |
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
344.270 |
312.390 |
310.910 |
||
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Interim Dividend |
184.120 |
184.120 |
73.650 |
|
|
|
Tax on Interim Dividend |
31.290 |
31.070 |
11.950 |
|
|
|
Final Dividend |
36.820 |
73.650 |
103.110 |
|
|
|
Tax on Final Dividend |
7.360 |
12.520 |
17.520 |
|
|
|
Transfer to General Reserve |
125.000 |
120.000 |
30.000 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
553.400 |
344.270 |
312.390 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1072.200 |
722.090 |
531.640 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
80.62 |
61.53 |
32.27 |
|
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
10.28 |
9.61 |
6.95 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
17.90 |
17.64 |
14.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.35 |
21.71 |
12.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.47 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.04 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
73.650 |
73.650 |
73.650 |
|
Reserves & Surplus |
1218.977 |
1370.861 |
1704.993 |
|
Net worth |
1292.627 |
1444.511 |
1778.643 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
36.190 |
0.000 |
0.000 |
|
Total borrowings |
36.190 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.028 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales and Services |
3419.980 |
4714.600 |
5775.310 |
|
|
|
37.855 |
22.498 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales and Services |
3419.980 |
4714.600 |
5775.310 |
|
Profit |
237.700 |
453.180 |
593.740 |
|
|
6.95% |
9.61% |
10.28% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90229720 |
28/09/2012 * |
360,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
SAKAR VII, B BLOCK,, NEAR NEHRU BRIDGE CORNER,
ASHRAM ROAD, AHMEDABAD, Gujarat - 380009, INDIA |
B59938209 |
* Date of charge modification
REVIEW
OF OPERATIONS
During the financial year
ending 31 December, 2014, the Company achieved a Sales of Rs. 5775.310 million
as against a turnover of Rs. 4714.600 million in the previous year registering
a growth of 22.50 %. The profit before tax of the Company has increased by
29.55 % to Rs. 887.040 million as compared to Rs. 684.690 million during the
previous year. During the year the Company has sold Blow Room Machinery of Rs.
1167.670 million, 828 Nos. High Production Cards of Rs.2706.200 million, 78
Nos. Draw Frames of Rs. 193.310 million and 54 Nos Combers of Rs. 337.430
million to various mills, which are working satisfactorily. Firm Orders at the end
of the year stood at Rs. 3293.890 million as against Rs. 3681.950 million at
end of previous year. The Company has attained two landmarks viz. the highest
ever turnover and highest ever net profit.
EXPORTS
During the year Export of
products and services were Rs. 1020.400 million against Rs. 687.600 million
during previous year registering a growth of 48.40 % compared to previous year.
FINANCIAL
YEAR
The financial year of the
Company commences on 1st January and ends on 31st
December every year. Pursuant to the provisions of Section 2(41) of the
Companies Act, 2013, the Company is required to change its financial year,
within a period of two years from the date of commencement of the Act, such
that it ends on 31st March every year. Further, Company can follow a
different financial year other than the specified period where consolidation of
accounts is required with that of the Holding company subject to the prior
approval of the Company Law Board.
The Board of Directors in
their Meeting held on 24th September 2014 decided to follow the
financial year from January to December for the purpose of consolidation of
financial statements of the Company with the Holding company. Application to
the Company Law Board has been made for the same.
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
-- PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
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.