MIRA INFORM REPORT
|
Report No. : |
341266 |
|
Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRIDGESTONE INDIA PRIVATE LIMITED (w.e.f. 2003) |
|
|
|
|
Formerly Known
As : |
BRIDGESTONE ACC INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No.A-43, Phase II, MIDC Chakan Village Sawardari, Taluka Khed,
Pune – 410501, Maharashtra |
|
Tel. No.: |
91-21-35671900 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
27.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-147267 (New No.) 10-010548 (Old No.) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7737.041 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25111PN1996PTC147267 (New No.) U25111MP1996PTC010548 (Old No.) |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLB00992F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2304E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Tyres, Tubes Flaps and Other Rubber Goods. |
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|
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|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
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|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “Bridgestone Asia Pacific Pte. Limited,
Singapore”. It was established during the year 1996. It has an excellent
track record. The company possesses strong business operations and increasing and
upstanding sales turnover along with good profits earning in the view of
FY-2014. The rating further derives strength from company’s healthy financial
risk profile marked by highly favourable capital structure along with low
borrowings taken by the company. Trade relations are reported as fair. Business is active. Payment
terms are regular and as per commitment. In view of healthy financial base and strong holding company, it can
be considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities= AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
09.12.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
09.12.2014 |
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 : |
Ms. Abha Jaiswal |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-2135-672000 |
|
Date : |
15.09.2015 |
LOCATIONS
|
Registered/ Head/ Sales Office/ Factory 1: |
Plot No.A-43, Phase II, MIDC Chakan Village Sawardari, Taluka Khed,
Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-21-35671900 |
|
Fax No.: |
Not Available |
|
E-Mail : |
abha-jaiswal@bridgestone.co.in
|
|
Website : |
|
|
|
|
|
Factory 2: |
Plot No 12, Kheda Growth Centre Post, Sagore, Pithampur, District –
Dhar – 454 774, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-423333/ 423423 |
|
Fax No.: |
91-7292-255039 |
|
|
|
|
Sales and Marketing Head Office : |
Plot No. 5/4, 5th Floor, Shalimar Onyx
(Mirchandani Park), Off Andheri Kurla Road, Sakinaka, Andheri (East), Mumbai
– 400072, Maharashtra, India |
|
Tel No.: |
91-22-42496400 |
|
Fax No.: |
91-22-42496400/ 28563426 |
|
E-Mail : |
DIRECTORS
AS ON 14.04.2014
|
Name : |
Tomio Fukuzumi |
|
Designation : |
Managing Director |
|
Address : |
Room No.243, Hyatt Regency, Weikfield IT Park Nagar Road, Pune –
411014, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1965 |
|
Date of Appointment : |
29.03.2013 |
|
DIN No.: |
06549425 |
|
|
|
|
Name : |
Mr. Ajay Vasudeo Sevekari |
|
Designation : |
Whole Time Director |
|
Address : |
103, Princess Landmark, Plot 21/12, Ratlam Kothy, |
|
Date of Birth/Age : |
08.05.1963 |
|
Qualification : |
BE (Chemical Engineering) and MBA |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02006157 |
|
PAN No.: |
AREPS8025N |
|
|
|
|
Name : |
Tatsuo Nakamura |
|
Designation : |
Whole Time Director |
|
Address : |
Flat 1002, 10th Floor Water Front, Kalyani Nagar, Pune –
411014, |
|
Date of Birth/Age : |
12.08.1964 |
|
Qualification : |
Graduate, Waseda University, Japan |
|
Date of Appointment : |
01.09.2011 |
|
PAN No.: |
AMSPN2957M |
|
DIN No.: |
03606743 |
|
|
|
|
Name : |
Masahiro Niinuma |
|
Designation : |
Whole time Director |
|
Address : |
Apartment 4108, Citrus Hotel and Resorts Opposite PCMC Building
Pimpri, Pune – 411018, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1964 |
|
Qualification : |
Graduate, Waseda University, Japan
|
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ALMPN1590P |
|
DIN No.: |
05254466 |
KEY EXECUTIVES
|
Name : |
Mrs. Abha Jaiswal |
|
Designation : |
Secretary |
|
Address : |
132
Mahavir Nagar, |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
01.08.2005 |
|
PAN No.: |
AFWPJ4221K |
MAJOR SHAREHOLDERS
AS ON 14.04.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bridgestone
Asia Pacific Pte Limited, Singapore |
|
745454120 |
|
Fukuzumi Tomio |
|
10 |
|
|
|
|
|
Total |
|
745454130 |
Equity Share Break up (Percentage of Total Equity)
AS ON 14.04.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tyres, Tubes Flaps and Other Rubber Goods. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (30 / 60 / 90 Days) |
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Purchasing : |
Cash, Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
· The Bank of Tokyo Mitsubishi Limited, Jeevan Prakash, SIR P. M. Road, Ford, Mumbai – 400001, Maharashtra, India
|
|
Auditors : |
|
|
Name : |
Deloitte
Haskins and Sells Chartered
Accountants |
|
Address : |
3rd Floor, Tower
3, India Bulls, Finance Centre, Senapati Bapat Marg, Elphinstone (West), Mumbai
– 400013, Maharashtra, India |
|
Tel. No.: |
91-22-22854330/
66679000 |
|
Fax No.: |
91-22-22024499/
22024337/ 66679025 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
Company : |
· Bridgestone Corporation, Japan (also the immediate Holding Company upto April 8, 2013) Ultimate Holding Company |
|
|
|
|
Holding Company : |
· Bridgestone Asia Pacific Pte Limited (fellow subsidiary upto April 8, 2013) Holding Company with effect from April 9, 2013 |
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|
|
|
Fellow Subsidiaries
: |
· Bridgestone (Huizhou) Synthetic Rubber Co. Limited · Bridgestone Americas Holding Inc. · Bridgestone Asia Pacific Pte. Limited · Bridgestone Asia Pacific Technical Center Co., Limited · Bridgestone Bandag LLC · Bridgestone do Brasil Industria e Comercio Ltda · Bridgestone Logistics Co. Limited · Bridgestone Metalpha (Thailand) Co. Limited · Bridgestone Middle East & Africa FZE, Dubai · Bridgestone Plant Engineering Co. Limited · Bridgestone Sales (Thailand) Co Limited · Bridgestone Tire Sales Korea Limited · Bridgestone Singapore Pte. Limited · Bridgestone Tire Manufacturing (Thailand) Co. Limited · Bridgestone (Shenyang) Steel cord Co. Limited · P.T. Bridgestone Tire Indonesia · Thai Bridgestone Co. Limited · Thai Bridgestone Proving Grounds |
CAPITAL STRUCTURE
AS ON 31.12.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1775300000 |
Equity Shares |
Rs.10/- each |
Rs.17753.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773704130 |
Equity Shares |
Rs.10/- each |
Rs.7737.041 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 |
7737.041 |
7454.541 |
6928.000 |
|
(b) Reserves & Surplus |
17442.001 |
15596.604 |
13715.602 |
|
(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) |
25179.042 |
23051.145 |
20643.602 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3719.000 |
7396.005 |
4797.099 |
|
(b) Deferred tax liabilities (Net) |
1166.800 |
481.100 |
287.900 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
153.970 |
331.898 |
120.145 |
|
Total Non-current
Liabilities (3) |
5039.770 |
8209.003 |
5205.144 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
381.010 |
|
(b) Trade
payables |
2463.788 |
1858.566 |
2236.007 |
|
(c) Other
current liabilities |
5679.305 |
2280.116 |
2751.431 |
|
(d) Short-term
provisions |
133.205 |
81.103 |
210.485 |
|
Total Current
Liabilities (4) |
8276.298 |
4219.785 |
5578.933 |
|
|
|
|
|
|
TOTAL |
38495.110 |
35479.933 |
31427.679 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
26064.492 |
23577.877 |
8045.033 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
855.335 |
2700.817 |
13725.471 |
|
(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 |
245.986 |
0.000 |
|
(d) Long-term Loan and Advances |
185.646 |
364.373 |
444.563 |
|
(e) Other
Non-current assets |
596.798 |
0.000 |
213.895 |
|
Total Non-Current
Assets |
27702.271 |
26889.053 |
22428.962 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3936.128 |
3368.221 |
3579.537 |
|
(c) Trade
receivables |
2919.615 |
2285.591 |
2238.519 |
|
(d) Cash
and cash equivalents |
2490.725 |
1161.404 |
1828.099 |
|
(e)
Short-term loans and advances |
1406.240 |
1619.573 |
1346.239 |
|
(f) Other
current assets |
40.131 |
156.091 |
6.323 |
|
Total
Current Assets |
10792.839 |
8590.880 |
8998.717 |
|
|
|
|
|
|
TOTAL |
38495.110 |
35479.933 |
31427.679 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
|
|
|
|
TOTAL REVENUE |
21730.000 |
19003.925 |
19602.400 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4600.000 |
2120.000 |
2075.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
1281.626 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
407.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
884.900 |
195.543 |
873.716 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4112.459 |
3916.916 |
2580.116 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4997.359 |
4112.459 |
3916.916 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Value of Goods Exported |
157.739 |
9.215 |
5.750 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6760.116 |
4209.304 |
4836.056 |
|
|
|
Capital Goods |
1193.831 |
2302.022 |
4484.365 |
|
|
|
Traded Goods |
979.801 |
2208.991 |
2766.205 |
|
|
|
Others |
125.751 |
198.253 |
117.766 |
|
|
TOTAL IMPORTS |
9059.499 |
8918.57 |
12204.392 |
|
|
|
|
|
|
|
|
|
|
Earnings per
share (Rs.) |
1.18 |
0.26 |
1.52 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
3711.449 |
487.527 |
331.874 |
|
Cash generated from operations |
3974.500 |
NA |
NA |
|
Net cash flow from (used in) operations |
3549.764 |
1798.647 |
565.643 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin PAT / Total
Revenue |
(%) |
4.07 |
1.03 |
4.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Total Revenue) |
(%) |
21.17 |
11.16 |
10.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
NA |
NA |
7.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.30 |
0.34 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
2.04 |
1.61 |
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 |
6928.000 |
7454.541 |
7737.041 |
|
Reserves & Surplus |
13715.602 |
15596.604 |
17442.001 |
|
Net
worth |
20643.602 |
23051.145 |
25179.042 |
|
|
|
|
|
|
long-term borrowings |
4797.099 |
7396.005 |
3719.000 |
|
Short term borrowings |
381.010 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
331.874 |
487.527 |
3711.449 |
|
Total
borrowings |
5509.983 |
7883.532 |
7430.449 |
|
Debt/Equity
ratio |
0.267 |
0.342 |
0.295 |
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 |
|
Total Revenue |
19602.400 |
19003.925 |
21730.000 |
|
|
|
(3.053) |
14.345 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Revenue |
19602.400 |
19003.925 |
21730.000 |
|
Profit |
873.716 |
195.543 |
884.900 |
|
|
4.46% |
1.03% |
4.07% |
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS
During the year 2014, the company earned the total revenue of Rs.21730.000 million as compared to Rs.19000.000 million during the previous financial year. EBIDTA was at Rs.4600.000 million as compared to Rs.2120.000 million during the previous financial year. The net profit for the year under review is Rs.884.900 million as against Rs.195.500 million in the previous financial year.
LITIGATION DETAILS:
|
Case
Details
|
UNSECURED LOANS:
|
Particulars |
31.12.2014 Rs. In Million |
31.12.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Foreign currency term loans from banks |
0.000 |
3677.005 |
|
Term loans from others |
3719.000 |
3719.000 |
|
|
|
|
|
Total |
3719.000 |
7396.005 |
NO CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
·
Leasehold Land
·
Freehold Land
· Building
· Plant and Machinery
· Office equipment
· Furniture and fixtures
· Vehicles
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.66.44 |
|
|
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
81 |
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.