MIRA INFORM REPORT
|
Report No. : |
340833 |
|
Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
LEONI CABLE SOLUTIONS (INDIA) PRIVATE LIMITED (w.e.f. 05.08.2008) |
|
|
|
|
Formerly Known
As : |
LEONI SPECIAL CABLES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Indospace Rohan Industrial Park, Gat No.428, Village, Mahalunge, Off
Chakan – Talegaon Road, Taluka Khed, Pune – 410 501, Maharashtra |
|
Tel. No.: |
91-2135-391600 |
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|
|
Country : |
India |
|
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|
Financials (as
on) : |
31.03.2014 |
|
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|
Date of
Incorporation : |
20.01.2006 |
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Com. Reg. No.: |
25-149865 |
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Capital
Investment / Paid-up Capital : |
Rs.499.728 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300PN2006PTC149865 |
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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.] |
Not Available |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged in the manufacturing and sale of wiring
and cable systems. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “LEONI KABEL HOLDING GMBH”, Germany.
Subject an established company has a moderate track record. Company possesses weak operational performance and incurred huge
losses from its operational activities. Rating further constrained on account of company’s moderate financial
risk profile and negative net worth profile of the company. However, rating limitation are partially offset by strong financial
and managerial support that company receives from its holding entity. Business is active. Payments are reported to be slow. In view of strong holding entity support, the company can be
considered for business dealings on safe and secured 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.
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) DEFAILTERS’ 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. Shailesh Bijegaonkar |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-8411966240 |
|
Date : |
12.09.2015 |
LOCATIONS
|
Registered Office/ Corporate Office/ Factory : |
Indospace Rohan Industrial Park, Gat No.428, Village, Mahalunge, Off
Chakan – Talegaon Road, Taluka Khed, Pune – 410 501, Maharashtra, India |
|
Tel. No.: |
91-2135-391600 91-20-40111424 |
|
Fax No.: |
91-2135-391650 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 22.09.2014
|
Name : |
Mr. Pushpendra Shyam Singh |
|
Designation : |
Managing Director |
|
Address : |
3A, Sorrento Enclave, No. 4 Sardar, Patel Road, Adyar, Chennai – 600 020, Tamilnadu, India |
|
Date of Birth/Age : |
21.01.1958 |
|
Qualification : |
B.Sc. and MBA |
|
Date of Appointment : |
12.04.2012 |
|
DIN No.: |
05251462 |
|
|
|
|
Name : |
Mr. Bruno Fankhauser |
|
Designation : |
Director |
|
Address : |
Rebbergstrasse 65, Wollerau, 8832, Switzerland |
|
Date of Birth/Age : |
10.10.1971 |
|
Date of Appointment : |
21.05.2012 |
|
DIN No.: |
05265574 |
|
|
|
|
Name : |
Mr. Wolfgang Losch |
|
Designation : |
Director |
|
Address : |
Forstackerweg 11 A, Belmbrach, Roth, Germany |
|
Date of Birth/Age : |
31.05.1957 |
|
Date of Appointment : |
21.05.2012 |
|
DIN No.: |
05280717 |
KEY EXECUTIVES
|
Name : |
Ms. Vrushali Prashant Eksambekar |
|
Designation : |
Secretary |
|
Address : |
F-84, Sneh Society, Mhada Project, Behind Corporation Bank, S.R.
No.29/1, 30/1, Hingane, Karvenagar, Pune – 411 052, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1987 |
|
Date of Appointment : |
02.06.2014 |
|
PAN No.: |
AAOPE4253F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Leoni Special Cables GmbH, Germany |
10000 |
0.02 |
|
Leoni Kabel Holding GmbH, Germany |
49962800 |
99.98 |
|
Total |
49972800 |
100.00 |
%20PRIVATE%20LIMITED%20-%20340833_MIRA%2014-Sep-2015_files/image002.gif)
As on 19.03.2015
|
Names of Allottees |
No. of Shares |
|
Leoni Kabel Holding GmbH, Germany |
20000000 |
|
Total |
20000000 |
As on 22.09.2014
|
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 in the manufacturing and sale of wiring
and cable systems. |
|
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|
|
Products : |
Not Divulged |
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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
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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 : |
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Banking
Relations : |
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Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada (Near Don Bosco School), Pune – 411 006, Maharashtra, India |
|
Tel. No. : |
91-20-66036000 |
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Fax No. : |
91-20-66015900 |
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PAN
No.: |
ABSFS4151K |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Leoni Kabel Holding GmbH, Germany |
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Ultimate Holding
company : |
Leoni Ag |
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Associate : |
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CAPITAL STRUCTURE
After 22.09.2014
Authorised Capital : Rs. 1200.000 Million
Issued, Subscribed & Paid-up Capital : 999.728 Million
As on 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49972800 |
Equity Shares |
Rs.10/- each |
Rs.499.728 million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49972800 |
Equity Shares |
Rs.10/- each |
Rs.499.728 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 |
499.728 |
26.728 |
26.728 |
|
(b) Reserves &
Surplus |
(550.731) |
(129.123) |
(18.419) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
396.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
(51.003) |
293.605 |
8.309 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.003 |
|
(c) Other long term
liabilities |
9.210 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.578 |
0.698 |
0.000 |
|
Total Non-current
Liabilities (3) |
10.788 |
0.698 |
0.003 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
971.989 |
4.073 |
0.000 |
|
(b) Trade payables |
287.931 |
61.402 |
4.371 |
|
(c) Other current liabilities |
42.896 |
81.349 |
0.362 |
|
(d) Short-term provisions |
2.242 |
1.567 |
0.000 |
|
Total Current Liabilities
(4) |
1305.058 |
148.391 |
4.733 |
|
|
|
|
|
|
TOTAL |
1264.843 |
442.694 |
13.045 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
588.263 |
5.258 |
0.407 |
|
(ii) Intangible Assets |
0.941 |
0.092 |
0.000 |
|
(iii) Capital
work-in-progress |
23.628 |
109.569 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
49.256 |
202.372 |
0.436 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
662.088 |
317.291 |
0.843 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
287.435 |
93.140 |
0.081 |
|
(c) Trade receivables |
202.867 |
3.907 |
0.116 |
|
(d) Cash and cash
equivalents |
1.500 |
0.000 |
11.553 |
|
(e) Short-term loans and
advances |
110.953 |
28.356 |
0.452 |
|
(f) Other current assets |
0.000 |
0.000 |
|
|
Total Current Assets |
602.755 |
125.403 |
12.202 |
|
|
|
|
|
|
TOTAL |
1264.843 |
442.694 |
13.045 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
543.774 |
15.234 |
8.382 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
807.556 |
(86.930) |
13.789 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(263.782) |
102.164 |
(5.407) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
63.438 |
9.295 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(327.220) |
92.869 |
(5.407) |
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
94.388 |
0.867 |
0.076 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(421.608) |
(112.326) |
(5.483) |
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
(0.003) |
0.009 |
|
|
|
|
|
|
|
|
Prior Period Income |
0.000 |
1.619 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
(421.608) |
(110.704) |
(5.492) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
(421.608) |
(110.704) |
(5.492) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
64.062 |
0.000 |
|
|
Traded Goods |
|
20.127 |
4.090 |
|
|
Capital Goods |
|
79.653 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
163.842 |
4.090 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(8.44) |
(2.22) |
(0.11) |
%20PRIVATE%20LIMITED%20-%20340833_MIRA%2014-Sep-2015_files/image003.gif){kind=small}
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 |
|
Net cash Flow from used in operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
(77.53) |
(726.69) |
(65.52) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/ Total Income) |
(%) |
(48.51) |
670.63 |
(64.51) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.97) |
(33.72) |
(42.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
8.27 |
(0.38) |
(0.66) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(19.06) |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.46 |
0.85 |
2.58 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
26.728 |
26.728 |
499.728 |
|
Reserves & Surplus |
(18.419) |
(129.123) |
(550.731) |
|
Share Application money pending
allotment |
0.000 |
396.000 |
0.000 |
|
Net worth |
8.309 |
293.605 |
(51.003) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
4.073 |
971.989 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
4.073 |
971.989 |
|
Debt/Equity ratio |
0.000 |
0.014 |
(19.057) |
%20PRIVATE%20LIMITED%20-%20340833_MIRA%2014-Sep-2015_files/image005.gif)
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) |
|
Total Income |
8.382 |
15.234 |
543.774 |
|
|
|
81.747 |
3,469.476 |
%20PRIVATE%20LIMITED%20-%20340833_MIRA%2014-Sep-2015_files/image007.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
8.382 |
15.234 |
543.774 |
|
Profit |
(5.492) |
(110.704) |
(421.608) |
|
|
(65.52%) |
(726.69%) |
(77.53%) |
%20PRIVATE%20LIMITED%20-%20340833_MIRA%2014-Sep-2015_files/image009.gif)
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 |
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 |
NOTE: Registered office of the company has been shifted from A-405, Galleria Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra India to the present address w.e.f. 05.12.2013
VIEW INDEX OF CHARGES No Charges Exist for Company
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 exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.39 |
|
|
1 |
Rs. 102.59 |
|
Euro |
1 |
Rs. 74.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.