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MIRA
INFORM REPORT
|
Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE MEDIA (INDIA) LIMITED |
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|
|
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Registered
Office : |
Knowledge House, Shyam Nagar Jogeshwari- Vikhroli Link Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.03.2006 |
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|
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|
Com. Reg. No.: |
11-160375 |
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Capital
Investment / Paid-up Capital : |
Rs.505.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH2006PLC160375 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF04646F |
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PAN No.: [Permanent Account No.] |
AAACF9652Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is in the business of Providing Advertising and Media
Services. |
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|
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No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. Profitability of the company
is under pressure. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company 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.
INFORMATION PARTED BY
|
Name : |
Mr. Devendra Gupta |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9930081007 |
|
Date : |
21.12.2011 |
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar Jogeshwari- Vikhroli Link Road, Jogeshwari
(East), Mumbai – 400060, Maharashtra, India |
|
Tel. No.: |
91-22-66442200 |
|
Mobile No.: |
91-9930081007 (Mr. Devendra Gupta) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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|
Head Office : |
Retail Home Office, Tower C, 7th Floor, 247 Park, LBS Marg,
Vikhroli (West), Mumbai – 400083, Maharashtra, India |
|
Tel. No.: |
91-22-61190000 |
DIRECTORS
(AS ON 16.08.2011)
|
Name : |
Mr. Kishore Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
406, Jeevan
Vihar, Manav Mandir Road, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Appointment : |
07.12.2007 |
|
DIN No.: |
00005740 |
|
|
|
|
Name : |
Mr. Pradeep Guha |
|
Designation : |
Director |
|
Address : |
701, Krishna
Heights, 12th Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Date of Appointment : |
07.12.2007 |
|
DIN No.: |
00180427 |
|
|
|
|
Name : |
Mr. Sanjeev Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No. 1301, Building
No.15, Indradarshan, Phase II, Oshiwara, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Appointment : |
08.03.2006 |
|
DIN No.: |
00043936 |
|
|
|
|
Name : |
Mr. Vikram Sakhuja |
|
Designation : |
Director |
|
Address : |
3rd Floor, Hormuz Building, Shanti Road, Juhu, Mumbai –
400049, Maharashtra, India |
|
Date of Appointment : |
07.12.2007 |
|
DIN No.: |
00398420 |
|
|
|
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-603, 'Kanishk',
Great Eastern Link, Ram Mandir Road, Goregaon (West), Mumbai 400 104,
Maharashtra, India |
|
Date of Birth/Age : |
29.09.1966 |
|
Date of Appointment : |
18.09.2008 |
|
DIN No.: |
00036303 |
|
|
|
|
Name : |
Mr. Atul Kapur |
|
Designation : |
Nominee Director |
|
Address : |
21, Holland Park, Lien Towers # 7-21 Singapore - 249476 |
|
Date of Birth/Age : |
22.06.1963 |
|
Date of Appointment : |
18.09.2008 |
|
Nominee Company : |
Indivision India Partners |
|
DIN No.: |
01778935 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Gupta |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Anand Shripad Gude |
|
Designation : |
Company Secretary |
|
Address : |
B-13, Rishikesh,
Evershine Nagar, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Appointment : |
06.08.2007 |
|
PAN No.: |
ACCPG6867B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 16.08.2011)
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
Pantaloon Retail (India) Limited, India |
|
27378741 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Chandra
Prakash Toshniwal |
|
1 |
|
Pantaloon Retail (India) Limited, India Jointly with Mr. Sanjeev
Agrawal |
|
1 |
|
Pantaloon Industries Limited, India Jointly with Mr. Vimal Dhruve |
|
1 |
|
Pantaloon Industries Limited, India Jointly with Mr. Rajesh Kalyani |
|
1 |
|
Pantaloon Industries Limited, India jointly with Mr. Pankaj Patel |
|
1 |
|
Future Corporate Resources Limited, India |
|
787878 |
|
Mr. Pradeep Guha |
|
7575 |
|
Manz Retail Private Limited, India |
|
984841 |
|
Matrix Publicities and Media India Private Limited, India |
|
250000 |
|
|
|
|
|
Total |
|
29409040 |
|
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||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
|
|
|
|
Indivision India Partners |
|
4800000 |
|
|
|
|
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Total |
|
4800000 |
(AS ON 30.09.2011)
Equity Shares Break – Up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.70 |
|
Directors or relatives of directors |
|
0.30 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is in the business of Providing Advertising and Media
Services. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others |
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No. of Employees : |
65 (Approximately) |
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Bankers : |
· Axis Bank Limited, Credit Management Centre, Unit No.6, Corporate Park Sion Trombay Road,
Mumbai – 400071, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountant |
|
Address : |
6th Floor, Express Towers, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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PAN No.: |
AABFS3421N |
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|
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Holding Company
: |
· Pantaloon Retail (India) Limited, India CIN No.: L52399MH1987PLC044954 |
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Subsidiary
Company : |
· Home Solutions Retail (India) Limited · Home Solutions Services (India) Limited · Pairs Retail India Limited (formerly known as Home Lighting India Limited) · Future Bazaar India Limited. · Future Brands Limited ·
Future Knowledge Services Limited · Future E-Commerce (India) Limited · Future Supply Chain Solutions Limited (formerly known as Future Logistic Solutions Limited) · Future Agrovet Limited (formerly know, as Pentaloon Food Product (India) Limited) · CIG Infrastructure Private Limited · Future Capital Holdings Limited · Future Finmart Limited. · Future Finance Limited · lndivision investment Advisors Limited · Kshitiji Investment Advisory Company Limited · Myra Mall Management Company Limited · Ambit Investment Advisory Company Limited · Future Mobiles and Accessories Limited · Future Value Retail Limited. (Formerly known as Pantaloon Future Ventures Limited) · Future Consumer Product Limited · Future Consumer Enterprises Limited (Formerly known as Future Speciality Retail Limited) · Future Mall Management Limited · Future Merchandising Limited (Formerly Known as Future Value Retail Limited) |
CAPITAL STRUCTURE
(AS ON 16.08.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Share |
Rs.10/- each |
Rs.350.000 Millions |
|
4800000 |
Preference Shares |
Rs.100/- each |
Rs.480.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.830.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29409040 |
Equity Share |
Rs.10/- each |
Rs.294.090
Millions |
|
4800000 |
Preference Shares |
Rs.100/- each |
Rs.480.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.774.090 Millions |
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.10/- each |
Rs.50.000 Millions |
|
4800000 |
0.01% Non Cumulative Compulsorily Convertible Preference Shares |
Rs.100/- each |
Rs.480.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.530.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Share |
Rs.10/- each |
Rs.25.000
Millions |
|
4800000 |
0.01% Non Cumulative Compulsorily Convertible Preference Shares |
Rs.1000/- each |
Rs.480.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.505.000 Millions |
NOTE:
Out of above 2,106,062 Equity Shares are held by
Holding Company – Pantaloon Retail (India) Limited
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
505.000 |
505.000 |
502.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
100.800 |
100.800 |
100.800 |
|
|
4] (Accumulated Losses) |
(239.856) |
(183.569) |
(106.831) |
|
|
NETWORTH |
365.944 |
422.231 |
496.469 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
75.305 |
54.167 |
50.016 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
75.305 |
54.167 |
50.016 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
441.249 |
476.398 |
546.485 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
322.812 |
377.565 |
341.728 |
|
|
Capital work-in-progress |
3.780 |
5.056 |
35.210 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
40.000 |
|
|
DEFERREX TAX ASSETS |
104.983 |
101.396 |
62.312 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
234.343
|
257.439 |
101.023 |
|
|
Cash & Bank Balances |
0.690
|
2.553 |
10.997 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
59.952
|
60.160 |
96.831 |
|
Total
Current Assets |
294.985
|
320.152 |
208.851 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
240.034 |
235.786 |
108.618 |
|
|
Other Current Liabilities |
44.224
|
90.933 |
24.716 |
|
|
Provisions |
1.053
|
1.052 |
8.282 |
|
Total
Current Liabilities |
285.311
|
327.771 |
141.616 |
|
|
Net Current Assets |
9.674
|
(7.619) |
67.235 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
441.249 |
476.398 |
546.485 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales of Services |
357.020 |
462.700 |
210.974 |
|
|
|
Other Income |
0.973 |
0.915 |
8.925 |
|
|
|
TOTAL (A) |
357.993 |
463.615 |
219.899 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
260.307 |
327.934 |
177.773 |
|
|
|
Personnel Costs |
52.813 |
87.178 |
63.565 |
|
|
|
General Administrative and Other Expenses |
40.283 |
108.591 |
77.776 |
|
|
|
Prior Period Adjustment |
0.000 |
0.000 |
(3.073) |
|
|
|
TOTAL (B) |
353.403 |
523.703 |
316.041 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.590 |
(60.088) |
(96.142) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.283 |
6.523 |
0.522 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(4.693) |
(66.611) |
(96.664) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
55.180 |
47.848 |
9.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(59.873) |
(114.459) |
(105.798) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.587 |
37.721 |
40.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(56.286) |
(76.738) |
(65.519) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(183.569) |
(106.831) |
(41.312) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(239.855) |
(183.569) |
(106.831) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(22.51) |
(32.13) |
(143.51) |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
320.000 |
|
|
|
|
|
The above information has been parted by Mr. Devendra Gupta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(15.72)
|
(16.55) |
(29.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(16.77)
|
(24.74) |
(50.15) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.69)
|
(16.40) |
(19.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
(0.27) |
(0.21) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.99
|
0.90 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.98 |
1.47 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
Dues of Micro, Medium and Small Enterprises |
-- |
-- |
-- |
|
Others |
240.034 |
235.786 |
108.618 |
|
|
|
|
|
|
Total |
240.034 |
235.786 |
108.618 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
------ |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
No |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
------ |
|
Litigations that the firm/ Promoters Involved in |
------ |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
------ |
|
Buyer visit details |
------ |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
------ |
|
Last Accounts filed at ROC |
------ |
|
Major Shareholders, if available |
------ |
BUSINESS OPERATIONS
The Company has continued with the various cost rationalization measures which have yielded a huge amount of saving to the Company.
The Company has managed a deal worth Rs.37.500 Millions with Central Bank of India who sponsored “Sabse Saste Char Din” event organized by Pantaloon Retail at their Big Bazaar Stores. The sponsoring of such type of events was the first time in the Industry. The Company expects to get more and more sponsors for such events to be organized by Future Group tram time to time and thereby substantially increase its revenue from SOH business. The Company has cracked same big deals with renowned Clients like Pane and Godrej and also gained some new categories of clients like PSU banks. SPOs and IT education institutes including business from the Companies like Maruti, Samsung and Vodafone.
Future TV has made a modest beginning with some of the big advertisers like HUL, P&G, Whirlpool and State Sank of India and the trend looks positive. The Company has been getting good comments from the market over the quality of the contents now appearing on Future IV Network, the Company shall always continue to strive to improve upon the same.
During the year due to economic slowdown, the Company has lost business from Insurance Companies, Mutual Funds and Telecom Sectors; however, the Company shall not leave any stone unturned to recover such lost business.
During the year, the Company has completely revamped the markeling strategy for “My World” magazine and consequently, the Company expects many business opportunities from the said magazine.
The Company had the exclusive rights of max Multiplexes till 31st March 10 and the Company had expressed its interest to renew such rights from Inox and also acquire on-screen advertising rights of Fame Multiplexes, provided the same were available mainly on revenue sharing basis instead of solely on the basis of payment of minimum guarantee amount.
TRADE REFERENCE:
· Pantaloons Retails
· Big Bazaar Stores
· Tata Nano
FORM 8:
|
Corporate
identity number of the company |
U74300MH2006PLC160375 |
|
Name of the
company |
Future Media
(India) Limited |
|
Address of the registered
office or of the principal place of
business in |
Knowledge House,
Shyam Nagar, Jogeshwari -Vikhroli Link Road, Jogeshwari (East), Mumbai –
400060, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10097257 |
|
Type of charge |
Book Debts Movable Property (Not being Pledge) Others: Stock, P and M etc |
|
Particular of
charge holder |
Axis Bank Limited Credit Management
Centre, Unit No.6, Corporate Park Sion Trombay Road, Chembur, Mumbai –
400071, Maharashtra, India |
|
Nature of instrument
creating charge |
Supplemental Deed
of Hypothecation (SDH) Dated 31.03.2010 |
|
Date of
instrument Creating the charge |
31.03.2010 |
|
Amount secured by
the charge |
Rs.190.000
Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of
Interests: As per Sanction
Letter or as stipulated by Bank from time to time. Terms of
repayment: As per Sanction
Letter or as stipulated by Bank from time to time. Margin: As per Sanction
Letter or as stipulated by Bank from time to time. Extent and
Operation of the charge: The Credit
facilities granted by the Bank revised/ modified / enhanced to Rs.190.000
Millions to secure various limits specified in SDH. The Security by
Hypothecation of Stock, Book Debts, P and M etc, SDH given earlier shall
continue to secure the enhanced limit. |
|
Particulars of
the property charged |
1st exclusive
Charge by way of Hypothecation of moveable machinery, P and M, fixtures,
fittings, etc. situated at premises or in godowns of the Company, or
elsewhere or in transit. 1st exclusive
Charge by way of Hypothecation of all present and future stock of RM, WIP,
FG, stores and spares wheresoever situated or in transit. 1st exclusive Charge
by way of Hypothecation of all present and future Book debts, outstanding
monies, receivables, claims, etc. due and owing to the Company during the
course of its business. |
|
Particulars of
the present modification |
Now vide this
modification Credit facilities granted
by the Bank revised / modified / enhanced to Rs.190.000 Millions to secure
various limits specified in SDH. The Security by Hypo. of Stock, Book Debts,
P and M etc, SDH given earlier shall continue to secure the enhanced limit. |
FIXED ASSETS
· Electrical Equipments
· Office Equipments
· Computers
· Furniture and Fittings
·
TV Software
·
Advertising Rights
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 records 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 records 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.52.68 |
|
|
1 |
Rs.82.53 |
|
Euro |
1 |
Rs.69.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
TOTAL |
|
27 |
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.