MIRA INFORM REPORT
|
Report No. : |
346416 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FCA INDIA AUTOMOBILES PRIVATE LIMITED (w.e.f. 20.03.2015) |
|
|
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|
Formerly Known
As : |
FIAT GROUP AUTOMOBILES INDIA PRIVATE LIMITED (w.e.f. 26.07.2012) AKAT AUTOMOTIVE DISTRIBUTION COMPANY PRIVATE LIMITED |
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Registered
Office : |
Benefice Building, Mathuradas Mill Compound, 2nd Floor, Opposite Kamala Mills Compound, Lower Parel (West), Mumbai- 400013, Maharashtra |
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Tel. No.: |
91-22-39462600/27/97/99/34 |
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
07.03.2012 |
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Com. Reg. No.: |
11-227795 |
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Capital
Investment / Paid-up Capital : |
Rs. 1789.900 Million |
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CIN No.: [Company Identification
No.] |
U50102MH2012PTC227795 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAKCA3372J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Wholesaler, Exporter and Importer of Car and Spare Parts. |
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No. of Employees
: |
83 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 is a wholly owned subsidiary of Fiat Chrysler Automobiles (FCA) Italy S.p.A. The company was incorporated in the year 2012 and it is the trader, wholesaler, exporter and importer of car and spare parts. FCA is the Italian-American multinational automobile manufacturer and world’s seventh-largest auto maker. It ranked amongst 223rd in fortune 500 company with brand name value of USD 6,060 million and enterprise value of USD 8,943 million. With respect to the operations of FCA India Automobiles,
the company has incurred a loss of Rs. 4545.000 million during FY 2014
against the previous year loss of Rs. 4015.000 million. Due to operational
and transactional losses incurred in the preceding years which has been
exceeded net worth of the company hence the net worth of the company has been
fully eroded as on 31st December 2014. However, with respect to the global operations, Fiat has strong market position in the automobile industry backed by its diversified portfolio along with global footprints in motor segment and decent brand recognition. Rating strength is partially offset by intensely competitive motor sector which may affect company profitability margins. In view of aforesaid, company can be considered good for any business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 PARTED BY
|
Name : |
Mr. Nitin More |
|
Designation : |
Divisional Manager (Finance) |
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Contact No.: |
91-22-39462634 |
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Date : |
23.10.2015 |
LOCATIONS
|
Registered Office : |
Benefice Building, Mathuradas Mill Compound, 2nd Floor, Opposite Kamala Mills Compound, Lower Parel (West), Mumbai- 400013, Maharashtra, India |
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Tel. No.: |
91-22-39462600/27/97/99/34 |
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Mobile No.: |
91-9819055822 (Mr. Nitin) |
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Fax No.: |
91-22-39462609 |
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E-Mail : |
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Website : |
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Warehouse : |
Located at :
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DIRECTORS
As on 25.03.2015
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Name : |
Mr. Kevin John Flynn |
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Designation : |
Managing Director |
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Address : |
Flat No. 2501, Raheja Vivarea, Tower B, 25th Floor, Sane Guruji Marg, Mahalaxmi, Mumbai-400011, Maharashtra, India |
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Date of Birth/Age : |
17.05.1959 |
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Date of Appointment : |
05.02.2015 |
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DIN No.: |
07087793 |
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Name : |
Mr. Pindanappilly Anil Kumar |
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Designation : |
Director |
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Address : |
290- D, Pocket- 2, Mayur Vihar, Phase- I, Delhi-110091, India |
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Date of Birth/Age : |
12.01.1961 |
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Date of Appointment : |
10.03.2014 |
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PAN No.: |
AAFPP2870C |
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DIN No.: |
03494014 |
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Other Directorship:
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Name : |
Mr. Stefano Luigi Salvini |
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Designation : |
Director |
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Address : |
Strada Ferrero Di Cambiano 49, Moncalieri, Torino, Italy, 10024, Italy |
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Date of Birth/Age : |
24.12.1965 |
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Date of Appointment : |
10.03.2014 |
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DIN No.: |
06714843 |
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Name : |
Mr. Gerard Strayhorn Joseph |
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Designation : |
Director |
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Address : |
House No 145, No 2 Area, Lane 599, Jinfeng Road, Shanghai, United States of America |
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Date of Birth/Age : |
19.03.1960 |
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Date of Appointment : |
25.03.2015 |
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DIN No.: |
07031106 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Harsh Kumar Mishra |
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Designation : |
Company Secretary |
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Address : |
A-503, Jasper CHS, Hiranandani Estate,Thane (West), Mumbai-400607, Maharashtra, India |
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Date of Birth/Age : |
24.06.1974 |
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Date of Appointment : |
02.09.2013 |
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PAN No.: |
AGAPM0649K |
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Name : |
Mr. Ramesh Rao Kruttiuenti |
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Designation : |
Chief Finance Officer |
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Address : |
Flat 8045 Sector D, Pocket 8 Vasant Kunj, New Delhi-110070, India |
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Date of Birth/Age : |
02.12.1970 |
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Date of Appointment : |
30.09.2014 |
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PAN No.: |
AIDPK0403E |
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|
Name : |
Mr. Nitin More |
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Designation : |
Divisional Manager (Finance) |
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|
Name : |
Mr. Shrikant Chaudhary |
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Designation : |
Purchase Department |
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Name : |
Mr. Sanjay Patil |
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Designation : |
Admin Department |
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Name : |
Mr. Omkar |
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Designation : |
Sales Department |
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Name : |
Mr. Dipak |
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Designation : |
Back Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
FCA Italy S.p.A. Italy (Formerly known as Fiat Group Automobiles S.p.A) |
|
196989999 |
|
FGA Investimenti S.p.A, Italy |
|
1 |
|
Total |
|
196990000 |
As on 19.05.2015
|
Names of Allottees |
|
No. of Shares |
|
FCA Italy S.p.A. Italy |
|
11000000 |
|
Total |
|
11000000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.03.2015
|
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 : |
Trader, Wholesaler, Exporter and Importer of Car and Spare Parts. |
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Products : |
Car and Spare Parts |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished goods |
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Countries : |
·
Sri Lanka ·
China ·
Nepal ·
South Africa
|
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Imports : |
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Products : |
·
Finished goods ·
Spare Parts |
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Countries : |
·
Italy ·
United States of America |
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Terms : |
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Selling : |
Cash / L/C / Cheque / Credit |
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Purchasing : |
Cash / L/C / Cheque / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Dealer
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No. of Employees : |
83 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
S.R. Batliboi and Company, LLP Chartered Accountants |
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Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACGFS9180N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
FCA Italy S.p.A., Italy |
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Fellow Subsidiaries
: |
CIN No.:U40300HR2007PTC046166
CIN No.:U32204HR2008PTC046212
CIN No.:U74900PN2008PTC132425
CIN No.:U74999MH1997PTC110889 |
CAPITAL STRUCTURE
After 25.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 4000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
207,990,000 |
Equity Shares |
Rs.10/- each |
Rs. 2079.900
Million |
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|
|
|
|
As on 25.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
196,990,000 |
Equity Shares |
Rs.10/- each |
Rs. 1969.900
Million |
|
|
|
|
|
As on 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
178,990,000 |
Equity Shares |
Rs.10/- each |
Rs. 1789.900
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 (12 Months) |
31.12.2013 (9 Months) |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1789.900 |
937.900 |
112.100 |
|
(b) Reserves & Surplus |
(4035.649) |
(2897.748) |
(2185.850) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
900.000 |
500.000 |
750.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(1345.749) |
(1459.848) |
(1323.750) |
|
|
|
|
|
|
(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 |
10.931 |
7.658 |
5.834 |
|
Total Non-current
Liabilities (3) |
10.931 |
7.658 |
5.834 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
515.072 |
0.000 |
0.000 |
|
(b) Trade
payables |
3546.195 |
2977.031 |
2216.024 |
|
(c) Other current
liabilities |
201.718 |
223.750 |
81.743 |
|
(d) Short-term
provisions |
457.227 |
575.853 |
317.640 |
|
Total Current
Liabilities (4) |
4720.212 |
3776.634 |
2615.407 |
|
|
|
|
|
|
TOTAL |
3385.394 |
2324.444 |
1297.491 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
39.028 |
28.457 |
7.368 |
|
(ii)
Intangible Assets |
71.991 |
115.954 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
61.966 |
|
(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 |
39.825 |
31.166 |
108.965 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
150.844 |
175.577 |
178.299 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1007.135 |
356.976 |
410.378 |
|
(c) Trade
receivables |
482.733 |
497.575 |
20.748 |
|
(d) Cash
and cash equivalents |
95.368 |
673.175 |
672.373 |
|
(e)
Short-term loans and advances |
1636.596 |
619.985 |
15.186 |
|
(f) Other
current assets |
12.718 |
1.156 |
0.507 |
|
Total
Current Assets |
3234.550 |
2148.867 |
1119.192 |
|
|
|
|
|
|
TOTAL |
3385.394 |
2324.444 |
1297.491 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 (12 Months) |
31.12.2013 (9 Months) |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
7605.000 |
4682.000 |
388.430 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
12151.000 |
8697.000 |
3022.280 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(4546.000) |
(4015.000) |
(2633.850) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(4546.000) |
(4015.000) |
(2633.850) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Trading goods |
9.700 |
14.700 |
0.000 |
|
|
TOTAL EARNINGS |
9.700 |
14.700 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
(25.39) |
(42.80) |
(234.95) |
|
Expected Sales (2015) : Rs. 10000.000
The above information has been parted by Mr. Nitin More [Divisional
Manager (Finance)]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 (12 Months) |
31.12.2013 (9 Months) |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
(5731.490) |
(3867.701) |
(579.657) |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 (12 Months) |
31.12.2013 (9 Months) |
31.03.2013 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
(59.78) |
(85.75) |
(678.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(134.28) |
(172.73) |
(213.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.38 |
2.75 |
1.99 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.38) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69 |
0.57 |
0.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
112.100 |
937.900 |
1789.900 |
|
Reserves & Surplus |
(2185.850) |
(2897.748) |
(4035.649) |
|
Net
worth |
(1323.750) |
(1459.848) |
(1345.749) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
515.072 |
|
Total
borrowings |
0.000 |
0.000 |
515.072 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
(0.383) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
388.430 |
4682.000 |
7605.000 |
|
|
|
1,105.365 |
62.431 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
388.430 |
4682.000 |
7605.000 |
|
Profit |
(2633.850) |
(4015.000) |
(4546.000) |
|
|
(678.08%) |
(85.75%) |
(59.78%) |
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 |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
Yes |
|
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 financial
years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
Yes |
|
29] |
Profitability for last three financial
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 |
NOTE: The Registered office of the company has been shifted from Corporate Park - II, 5th Floor, Sion - Trombay Road, Mumbai – 400071, Maharashtra, India to the present address w.e.f. 20.12.2012
CORPORATE
INFORMATION:
Fiat Group Automobiles India Private Limited (the Company) is a private limited company incorporated in India on March 07, 2012 and is a wholly owned subsidiary of FCA Italy S.p.A. (formerly known as Fiat Group Automobiles S.p.A., Italy).The Company is licensed by its holding company under a Vehicle Product License Agreement to manufacture, by itself or through other manufacturers, and distribute, the Fiat branded vehicles and spare parts. The Company has an arrangement to get the Fiat Branded vehicles manufactured in India through Fiat India Automobiles Ltd (a 50:50 Joint venture between Tata Motors Ltd and FCA Italy S.p.A.). The Company also carries out engineering, procurement, import and distribution activities of vehicles and spare parts of other brands owned by FCA group.
SHARE CAPITAL
During the year, the Company issued an aggregate of 85200000 equity shares of Rs. 10 each at a premium of Rs. 40 per equity share to its holding company namely; FCA Italy S.p.A (formerly known as Fiat Group Automobiles S.p.A.). In view of the aforesaid allotments of equity shares, the paid-up share capital of your Company as of 31st December 2014 stood at Rs. 1789.900 Million divided into 178990000 equity shares of the face value of Rs. 10 each.
Further, during the year under review, the Company had received a share application money of Rs. 900.000 Million from its holding company in the month of December 2014, against which 18000000 equity shares were required to be allotted on rights basis at the rate of Rs. 50 per share (including premium of Rs. 40 per share), which were subsequently allotted on 5th February 2015 within statutory time limit in this regard.
UNSECURED LOAN
|
PARTICULARS |
31.12.2014 (Rs. In Million) |
31.12.2013 (Rs. In Million) |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
330.000 |
0.000 |
|
Other loans and advances |
185.072 |
0.000 |
|
Total |
515.072 |
0.000 |
INDEX
OF CHARGES NO CHARGES EXIST FOR COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
|
Bank Guarantee |
4.400 |
1.000 |
FIXED ASSETS
Tangible assets
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.