MIRA
INFORM REPORT
|
Report No. : |
345418 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DORSET KABA
SECURITY SYSTEMS PRIVATE LIMITED (w.e.f. 21.03.2007) |
|
|
|
|
Formerly Known
As : |
DELHI HOMES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-88, Street No.2, Mahipalpur Extension, |
|
Tel. No.: |
91-11-46138800 |
|
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|
|
Country : |
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|
|
|
|
Financials (as
on) : |
30.06.2014 |
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|
|
|
Date of
Incorporation : |
22.07.1992 |
|
|
|
|
Com. Reg. No.: |
55-049657 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.996 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PTC049657 |
|
|
|
|
IEC No.: |
0506024181 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACD0031H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in manufacturing and marketing of wide range of mechanical,
mechatronics, electronic locks and standalone access control systems. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 528600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually Correct |
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|
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|
Litigation : |
Clear |
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Comments : |
Subejct was erstwhile a joint venture between “Dorset India Private
Limited” and “Kaba Holdings AG, Switzerland”. And recently on June 2014 Kaba increased
its stake in the subject company by acquiring additional 25% of stake. Hence
it holds 74% stake of the subject company. The rating takes into consideration sound financial risk profile of
the company marked by adequate networth base and comfortable gearing in FY
2014. Further, the company has reported decent growth in its revenue base
along with decent net 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 holding along with decent financial condition, the
company can be considered for business dealings with usual trade terms and
conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Semanchal |
|
Designation : |
Export – Import Head |
|
Contact No.: |
91-11-46138800 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered / Corporate Office : |
A-88, Street No.2, Mahipalpur Extension, New Delhi – 110037, India |
|
Tel. No.: |
91-11-46138800 (100 Lines) |
|
Fax No.: |
91-11-46138880 |
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E-Mail : |
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|
Website : |
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Branch Offices : |
Located At: · Ahmedabad · Chennai · Bangalore · Ghaziabad · Gurgaon · Hyderabad · Kochi · Kolkata · Lucknow · Mumbai ·
Zirakpur |
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|
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Manufacturing Unit : |
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Unit I : |
Binola, Gurgaon, Haryana, India |
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|
|
|
Unit II and
Unit III : |
Haridwar, Uttaranchal, India |
DIRECTORS
As on 28.02.2015
|
Name : |
Ashok Minda |
|
Designation : |
Director |
|
Address : |
17, Olof Palme Marg, Vasant Vihar, New Delhi - 110057, India |
|
Date of Appointment : |
29.04.2008 |
|
DIN No.: |
00054727 |
|
|
|
|
Name : |
Roberto Gaspari |
|
Designation : |
Director |
|
Address : |
Via Delle Rose 11/3, Bologna - 40136, Italy |
|
Date of Appointment : |
30.11.2010 |
|
DIN No.: |
00745991 |
|
|
|
|
Name : |
Riet Cadonau |
|
Designation : |
Director |
|
Address : |
Weinbergstrasse 32, 8703 Erlenbach, Erlenbach, Na, Switzerland |
|
Date of Appointment : |
07.06.2011 |
|
DIN No.: |
03566381 |
|
|
|
|
Name : |
Saurabh Bansal |
|
Designation : |
Whole-Time Director |
|
Address : |
J 1/48,Dlf Phase-II, Gurgaon, Gurgaon - 122002, Haryana, India |
|
Date of Appointment : |
19.11.2012 |
|
DIN No.: |
03472949 |
|
|
|
|
Name : |
Rajesh Kumar Bansal |
|
Designation : |
Managing Director |
|
Address : |
Dj-1/48, DLF Phase II, Gurgaon - 122002, Haryana, India |
|
Date of Appointment : |
22.07.1992 |
|
DIN No.: |
00049075 |
|
|
|
|
Name : |
Beat Malacarne |
|
Designation : |
Director |
|
Address : |
Hoheweg 5, 8750, Glarus, Na, Switzerland |
|
Date of Appointment : |
03.09.2014 |
|
DIN No.: |
06945539 |
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|
|
|
Name : |
Jim Lee Heng |
|
Designation : |
Director |
|
Address : |
Flat C 35/F Block 1, The Leighton Hill 2B Broadwood Road, Hongkong, Na, Hong Kong |
|
Date of Appointment : |
09.02.2015 |
|
DIN No.: |
07069135 |
KEY EXECUTIVES
|
Name : |
Mr. Lal Chand Sharma |
|
Designation : |
Company Secretary |
|
Address : |
2266/2, West Patel Nagar, Patel Nagar, New Delhi - 110008, India |
|
Date of Appointment : |
17.11.2008 |
|
PAN No.: |
BYQPS1260P |
MAJOR SHAREHOLDERS
As on 28.02.2015
|
Category of Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Promoter’s |
|
|
|
|
|
|
|
|
1018749 |
33.96 |
|
|
1018749 |
33.96 |
|
|
|
|
|
Total shareholding
of Promoter’s (A) |
1018749 |
33.96 |
|
|
|
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|
(B) Public
Shareholding |
|
|
|
Non-Institutions |
|
|
|
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million |
531651 |
17.73 |
|
Others (specific) |
|
|
|
Overseas Corporate Bodies |
1449216 |
48.31 |
|
|
1980867 |
66.04 |
|
Total Public shareholding
(B) |
1980867 |
66.04 |
|
Total (A)+(B) |
2999616 |
100.00 |
(1)
Indian
Individuals
/ Hindu Undivided Family
As on 28.02.2015
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
74.00 |
|
Directors or relatives of Directors |
26.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and marketing of wide range of
mechanical, mechatronics, electronic locks and standalone access control
systems. |
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|
|
|
Products : |
Locks |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company LLP Chartered Accountants |
|
Address : |
Building 8th, 7th and 8th Floor, Tower B, DLF Cyber City, Gurgaon –
122002, Haryana, India |
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PAN No.: |
AAHFP0187A |
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|
|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Entities with significant influence : |
·
Mars Industries Private Limited ·
Minda Slica Engineering Limited ·
Minda Management Services Limited ·
Minda Corporation Limited ·
Minda Capital Limited ·
Modtech Industries (Partnership Firm) ·
A S and Company (Proprietary Firm) ·
Dorset India Private Limited |
|
|
|
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Joint Ventures : |
Kaba Security Pte. Limited, Singapore |
CAPITAL STRUCTURE
After 28.02.2015
Authorised Capital: Rs.60.000 Million
Issued, Subscribed & Paid-up Capital: Rs.59.630 Million
As on 28.02.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2999616 |
Equity Shares |
Rs.10/- each |
Rs.29.996
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
29.996 |
29.996 |
29.996 |
|
(b) Reserves &
Surplus |
154.995 |
109.472 |
74.539 |
|
(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) |
184.991 |
139.468 |
104.535 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2.818 |
5.552 |
6.274 |
|
(b) Deferred tax
liabilities (Net) |
0.368 |
0.560 |
0.752 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.847 |
6.582 |
4.829 |
|
Total Non-current
Liabilities (3) |
11.033 |
12.694 |
11.855 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
38.585 |
33.557 |
17.790 |
|
(b) Trade payables |
116.073 |
99.117 |
168.248 |
|
(c) Other current
liabilities |
13.473 |
12.533 |
11.376 |
|
(d) Short-term provisions |
5.355 |
2.553 |
0.633 |
|
Total Current Liabilities
(4) |
173.486 |
147.760 |
198.047 |
|
|
|
|
|
|
TOTAL |
369.510 |
299.922 |
314.437 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
44.301 |
46.937 |
48.787 |
|
(ii) Intangible Assets |
0.322 |
0.433 |
0.593 |
|
(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) |
3.870 |
1.942 |
0.000 |
|
(d) Long-term Loan and Advances |
3.728 |
0.681 |
0.410 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
52.221 |
49.993 |
49.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
75.697 |
50.033 |
60.603 |
|
(c) Trade receivables |
235.263 |
194.249 |
190.894 |
|
(d) Cash and cash
equivalents |
3.959 |
3.817 |
5.157 |
|
(e) Short-term loans and
advances |
2.370 |
1.830 |
7.993 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
317.289 |
249.929 |
264.647 |
|
|
|
|
|
|
TOTAL |
369.510 |
299.922 |
314.437 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
SALES |
|
|
|
|
|
Income |
808.000 |
|
|
|
|
Other Income |
NA |
11.796 |
|
|
|
TOTAL |
NA |
670.896 |
548.523 |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
|
540.400 |
|
|
|
|
|
(Including
Depreciation and Finance Expenses) |
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
69.800 |
53.100 |
|
|
|
|
|
|
|
|
|
FINANCIAL EXPENSES |
5.700 |
3.200 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
64.100 |
49.900 |
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
7.700 |
7.600 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
56.400 |
42.300 |
8.123 |
|
|
|
|
|
|
|
|
TAX |
10.900 |
7.400 |
3.028 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
45.500 |
34.900 |
5.095 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
14.560 |
11.570 |
NA |
|
|
TOTAL EARNINGS |
14.560 |
11.570 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
36.305 |
31.524 |
NA |
|
|
Components and Stores
parts |
31.529 |
8.954 |
NA |
|
|
TOTAL IMPORTS |
67.834 |
40.478 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.51 |
1.16 |
0.16 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Current Maturities of Long term debt |
2.340 |
2.409 |
NA |
|
Cash generated from operations |
21.388 |
(2.076) |
NA |
|
Net cash flows from operating acitivities |
11.486 |
(7.932) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.63 |
5.30 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
8.64 |
8.06 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.43 |
14.20 |
2.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.30 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22 |
0.28 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
1.69 |
1.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
29.996 |
29.996 |
29.996 |
|
Reserves & Surplus |
74.539 |
109.472 |
154.995 |
|
Net worth |
104.535 |
139.468 |
184.991 |
|
|
|
|
|
|
long-term borrowings |
6.274 |
5.552 |
2.818 |
|
Short term borrowings |
17.790 |
33.557 |
38.585 |
|
Total borrowings |
24.064 |
39.109 |
41.403 |
|
Debt/Equity ratio |
0.230 |
0.280 |
0.224 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.06.2013 |
30.06.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
659.100 |
808.000 |
|
|
|
22.591 |
NET PROFIT MARGIN
|
Net Profit Margin |
30.06.2013 |
30.06.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
659.100 |
808.000 |
|
Profit |
34.900 |
45.500 |
|
|
5.30% |
5.63% |
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 |
No |
|
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL
INFORMATION
Subject was incorporated on July 22, 1992. Dorset group (the Indian management)
and Kaba Group of Switzerland entered into a share subscription and shareholder
agreement dated December 15, 2006 and jointly started operating under the name
and style of “Dorset Kaba Security Systems Private Limited”. The company is
engaged in manufacturing and marketing of wide range of mechanical,
mechatronics, electronic locks and standalone access control systems. The
company has its manufacturing facility at State Infrastructure and Industrial
Development Corporation of Uttarakhand Limited (“SIDCUL”), Haridwar,
Uttarakhand. The company sells its products and offers services to dealers and
builders.
MANAGEMENT OVERVIEW
AND FUTURE PROSPECTUS
With commitment from both JV Partners and testimonial to the Joint Venture, Kaba and Dorset have extended the relationship further, after seeing the mutual trust and confidence in each other over these years and as result thereof has achieved a milestone by entering into agreements with Kaba Holding AG resulting in an addition of current product portfolio of Dorset Group and extensive range of Kaba's Global range of products ultimately leading to a total systems approach to the Architectural Hardware, Locks and Security Systems market (Total Access) in India. The new Joint Venture combines the global resources and expertise of the Kaba Group. Two new manufacturing units at Haridwar and Gurgaon and nine branch offices will serve the Indian as well as global markets.
The Directors are looking forward to capitalize on the strong brand reputation of Kaba globally and its strength of latest technologies evolved and developed on continuous basis and make Kaba as a leading Total Access System provider and on the other side Dorset's great strength of distribution network, Institutional clients and manufacturing capabilities in the India market, along with a vision for providing a wide range of products in the builders hardware segment.
With this new feather in cap shall bring in its turnover more revenue byadding more business both from Indian market and from across the world, more opportunities and more new products and technologies and bigger and stronger organization. Dorset product portfolio will be an added advantage to the existing and new buyers of Kaba products globally and shall expand the horizon of Dorset's international business in near future. This will also rapidly increase its activities in Hospitality segment, Security Systems Market and also add new product lines of the Kaba Group in the Indian market for Dorset's Distribution Channel.
Eventually, the directors are hopeful that all this shall lead to better future for the organization and all the stake holders (employees, Customers and Channel Partners) in the times to come ahead.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Furniture and Fixtures
·
Vehicles
WEBSITE DETAILS:
PRESS RELEASE:
SWISS LOCK MAKER KABA
HIKES STAKE IN INDIAN JV WITH DORSET TO 74%
Switzerland-based Kaba Holdings AG has hiked its stake in its Indian joint venture Dorset Kaba Security Systems Private Limited to 74 per cent by acquiring an additional 25 per cent stake for an undisclosed amount. Both the companies signed the agreement in June this year which got completed last month.
As part of the deal, Dorset Kaba will take over three more businesses of Dorset Group including Mars Industries Private Limited, Dorset India Pvt Ltd and Modtech Industries on a slump sale basis.
Post this, Kaba will have three production sites and four regional offices in India serving a broad distribution network. This will help the company boost its sale in India.
"We now have direct access to a distribution network of more than 1,800 retailers and distribution partners. After acquisitions in Colombia, China and Brazil, we are extending our reach in a fourth emerging market, in line with our defined acquisition strategy,” said Riet Cadonau, CEO Kaba Group.
Kaba formed a JV with Dorset Group in 2007 and acquired 49 per cent stake. Currently, Dorset Kaba employs around 1,000 people and achieves annual sales of CHF 22 million (around Rs 150 crore).
The JV operates in two product areas in Indian market—builder hardware and security systems. In the builder section, the main products are lock sets, mortise locks, lever handles as well as door closer while in the security systems, it sells high-security cylinders, physical access systems and tripod barriers.
Its clientele portfolio includes companies like Hyatt Group, Taj Hotels, Max Healthcare, DLF and EMAAR MGF.
J. Sagar Associates (JSA) advised Kaba Holding AG on the deal while Luthra and Luthra Law Offices advised Dorset Group.
Kaba Holdings AG provides access control solutions for buildings, facilities and sites, and enterprise data collection systems worldwide.
In 2010, Kaba acquired additional 15 per cent stake in Greater Noida-based Minda Silca Engineering Ltd from Minda Corporation Ltd for Rs 35.000 Million.
New Delhi-based Dorset Group was established in 1995 and is engaged in manufacturing and supplying architectural hardware systems.
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.64.96 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
48 |
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.