1. Summary Information
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|
Country |
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Company Name |
SPICE RETAIL LIMITED |
Principal Name 1 |
Dr. Bhupendra Kumar Modi |
|
Status |
Moderate |
Principal Name 2 |
Mr. Dilip Modi |
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|
|
Registration # |
06-008020 |
|
Street Address |
Village Bhillanwali Labana, Post Office-Baddi, Tehsil Nalahgarh Baddi, Nalagarh-173205, Himachal Pradesh |
||
|
Established Date |
19.02.1988 |
SIC Code |
-- |
|
Telephone# |
91-120-4720900 |
Business Style 1 |
Trader |
|
Fax # |
91-120-4720901 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Mobile Handsets |
|
|
# of employees |
Not Available |
Product Name 2 |
Mobile Handsets Accessories |
|
Paid up capital |
Rs.367,594,000/- |
Product Name 3 |
-- |
|
Shareholders |
|
Banking |
Not Available |
|
Public Limited Corp. |
NO |
Business Period |
24 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
|
Hindustan Retail Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
883,733,000 |
Current Liabilities |
2,237,147,000 |
|
Inventories |
596,587,000 |
Long-term Liabilities |
381,253,000 |
|
Fixed Assets |
33,707,000 |
Other Liabilities |
106,282,000 |
|
Deferred Assets |
00,000 |
Total Liabilities |
2,724,682,000 |
|
Invest& other Assets |
182,889,000 |
Retained Earnings |
399,503,000 |
|
|
|
Net Worth |
(1,027,766,000) |
|
Total Assets |
1,696,916,000 |
Total Liab. & Equity |
1,696,916,000 |
|
Total Assets (Previous Year) |
990,936,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
8,251,515,000 |
Net Profit |
(124,089,000) |
|
Sales(Previous yr) |
4,794,355,000 |
Net Profit(Prev.yr) |
(403,509,000) |
|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPICE RETAIL LIMITED (w.e.f. 19.03.2009) |
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Formerly Known
As : |
HOTSPOTS RETAILS LIMITED(w.e.f 08.04.2008) HOTSPOTS RETAILS PRIVATE LIMITED |
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Registered
Office : |
Village Bhillanwali Labana, Post Office-Baddi, Tehsil Nalahgarh Baddi,
Nalagarh-173205, Himachal Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.02.1988 |
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|
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Com. Reg. No.: |
06-008020 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 447.174 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202HP1988PLC008020 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM0294P |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Mobile Handsets and Related Accessories. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is a established company having moderate track record. There
appears huge accumulated losses recorded by the company. However, sales
turnover for the year has increase. Trade relations are reported to be fair.
Business is active. Payments are reported to be slow. In view of strong holding company can be considered for business
dealing 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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
31-03-2012.
LOCATIONS
|
Registered Office : |
Village Bhillanwali Labana, Post Office-Baddi, Tehsil Nalahgarh Baddi,
Nalagarh-173205, Himachal Pradesh, India |
|
Tel. No.: |
91-120-4720900 |
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Fax No.: |
91-120-4720901 |
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E-Mail : |
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Website : |
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Corporate Office : |
S Global Knowledge Park, 19A and 19B, Sector – 125, Noida – 201301,
Uttar Pradesh, India |
DIRECTORS
As on 27.09.2011
|
Name : |
Ms. Preeti Malhotra |
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Designation : |
Director |
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Address : |
40, NRI Complex, Greater Kailash IV, New Delhi-110019, |
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Date of Birth/Age : |
09.04.1964 |
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Date of Appointment : |
05.08.2010 |
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DIN No.: |
00189958 |
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Other Directorship:
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Name : |
Mr. Subroto Chattopadhyay |
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Designation : |
Director |
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Address : |
6, |
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Date of Birth/Age : |
04.09.1958 |
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Date of Appointment : |
02.07.2012 |
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DIN No.: |
00087730 |
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Other Directorship:
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Name : |
Mr. Rajneesh Arora |
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Designation : |
Manager |
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Address : |
263, |
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Date of Birth/Age : |
12.01.1974 |
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Date of Appointment : |
01.04.2009 |
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PAN No.: |
ADCPA6866H |
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Other Directorship: |
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KEY EXECUTIVES
|
Name : |
Ms. Sonika Jain |
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Designation : |
Company Secretary |
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Address : |
A-10, F1, Surya Nagar, |
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Date of Birth/Age : |
25.05.1978 |
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Date of Appointment : |
10.03.2009 |
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PAN No.: |
ADJPJ9896K |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Hindustan Retail Private Limited, |
36759319 |
|
Dr. Bhupendra Kumar Modi* |
10 |
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Mrs. Veena Modi* |
10 |
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Mr. Dilip Modi* |
05 |
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Ms. Divya Modi* |
10 |
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Ms. Preeti Malhotra* |
10 |
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Mr. Atul Prakash* |
10 |
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Total
|
36759374 |
* Beneficial owner is
Hindustan Retail Private Limited, India
As on 01.08.2012
|
Names of Allottees |
No. of Shares |
|
Hindustan Retail Private Limited, |
7163753 |
|
S Mobility Limited, India |
794262 |
|
Dr. Bhupendra Kumar Modi* |
2 |
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Mr. Dilip Modi* |
2 |
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Ms. Veena Modi* |
2 |
|
Ms. Divya Modi* |
2 |
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Mr. Atul Prakash* |
4 |
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Total
|
7958027 |
*Beneficial interest lies with Hindustan Retail Private Limited
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Mobile Handsets and Related Accessories. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
|||||||||
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Facilities : |
NOTES: (A)
Loan from a body corporate 0, Loan from the
holding company / Ultimate Holding Company 381253108 ( Repayable within one
year Rs. 381,253,108 ) (B)
Loan from a body corporate (Repayable on demand)
30000000, Loan from the holding
company/Ultimate Holding Company |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Company Chartered Accountants |
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Address : |
Golf View Corporate Tower B, Sector 42, |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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PAN No.: |
AALFS0506L |
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Audit Committee: |
·
Mr. Krishan Lal Chugh Chairman ·
Mr. Dilip Modi Member ·
Mr. Subroto Chattopadhyay Member |
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Ultimate Holding Company : |
·
Spice Global Investments Pvt. Ltd.*(Holding
company of SML) ·
Spice Mobility Ltd.(SML) (Holding company of
HRPL) |
|
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Holding Company: |
·
Hindustan Retail Private Limited [CIN :
U52100UP2007PTC033258] |
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Subsidiary Company : |
·
Cellucom Retail India Private Limited [CIN :
U32202DL2006PTC153361] |
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Fellow Subsidiaries: |
·
Spice Investment and Finance Advisors Limited,
India* ·
Wall Street Finance Limited, India* ·
Goldman Securities Private Limited, India* ·
Bharat Towers Private Limited, India* ·
Nutshell Technology Private Ltd*. ·
Spice Internet Service Provider Private Limited,
India* (till 6.9.2010) ·
Spice Commodities Private Limited, India* ·
Spice Insurance Services Private Limited, India* ·
Spice Stock Broking Private Limited, India* ·
Spice Innovative Technology Private Limited,
India* ·
Spice Wimax Service provider Private Limited,
India* ·
Spice Solar Technology Private Limited, India* ·
Spice Solar Technology Rajasthan Private
Ltd*(w.e.f. 09.04.2010) ·
Spice Internet Service Provider Private Limited,
India* (w.e.f. 07.09.2010) ·
Spice Online Retail Private Limited, India*
(w.e.f. 20.12.2010) ·
Spice Enfotainment Limited, India* ·
IO system Limited, India* ·
Mudaliar and Sons Hotels Private Limited, India* ·
M Pictures Distribution Limited, India* (Till
12.04.2010) ·
Spice Digital Limited, India ·
Mobisoc Technology Private Limited, India* ·
Spice Mobile VAS Pte. Limited, India* ·
Beoworld Sdn. Bhd * (w.e.f. 02.12.2010) ·
Spice VAS (Africa) Pte. Limited, India* ·
Spice Digital Nigeria Limited, India* [CIN :
U72900DL2000PLC104989] ·
Spice VAS Uganda Limited, India* (w.e.f.
11.11.2010) ·
Spice Labs Private Limited, India* ·
Spice Distribution Limited, India [CIN :
U51909HP2007PLC030672] ·
Kimman Exports Private Ltd*(w.e.f. December 25,
2010) |
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Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their relatives: |
·
Tuberose Investments Private Ltd* ·
VCorp Mercantile Pvt Limited, India* ·
Prospective Infrastructures Pvt Limited, India* ·
Plus Paper Foodpac Ltd* ·
Duro International Rubber Pvt Limited, India* ·
Plus Pac Holding Private Limited* ·
Superior Information Technology Private Limited* ·
Gcorp FZE- Sharjah* ·
Ridh International FZE- Sharjah* ·
Shenzhen Shibashi Catering Management Company
Limited, India* ·
Spice Global Holding Pte Limited, India* ·
Mcorp Investments Pte Limited, India* ·
Spice Global Pte Limited, India* ·
Spice Circle Pte Limited, India* ·
Hollywood Travels and Tours Pte Limited, India* ·
Spice Bulls Pte Limited, India* ·
Spice Studio Pte Limited, India* ·
Spice Investment Services Pte Limited, India* ·
Spice Telnet Pte Limited, India* ·
Innovative Management Pte Ltd*. ·
Silvergram Limited, India( A BVI Company)* ·
Scorp Investments Limited, India( A BVI Company)* ·
Melodist Holdings Limited, India( A BVI Company)* ·
Spice i2i (Formerly known as Media Ring)* |
NOTE:
* No transactions have taken place with these parties during the year
and previous year.
CAPITAL STRUCTURE
As on 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36759374 |
Equity Shares |
Rs. 10/- each |
Rs. 367.594
millions |
|
|
|
|
|
NOTES:
(-Out of above, 36,759,374 (Previous year 33,092,561) are held by
Hindustan Retails Private Limited, the holding Company and its nominees. - 3,666,813
(Previous year 3,666,813) equity shares are allotted as fully paid-up without
payments being received in cash)
After 27.09.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs. 10/- each |
Rs. 1000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44717401 |
Equity Shares |
Rs. 10/- each |
Rs. 447.174
millions |
|
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
367.594 |
367.594 |
188.042 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
399.503 |
399.503 |
273.278 |
|
|
4] (Accumulated Losses) |
(1794.863) |
(1670.774) |
(1267.265) |
|
|
NETWORTH |
(1027.766) |
(903.677) |
(805.945) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
381.253 |
30.000 |
134.724 |
|
|
TOTAL BORROWING |
381.253 |
30.000 |
134.724 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(646.513) |
(873.677) |
(671.221) |
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.707 |
47.591 |
71.851 |
|
|
Capital work-in-progress |
0.450 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
182.439 |
182.439 |
182.439 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
596.587
|
274.304
|
235.410 |
|
|
Sundry Debtors |
335.472
|
52.189
|
13.604 |
|
|
Cash & Bank Balances |
34.714
|
28.734
|
23.139 |
|
|
Other Current Assets |
40.382
|
0.225
|
0.146 |
|
|
Loans & Advances |
473.165
|
405.454
|
239.862 |
|
Total
Current Assets |
1480.320
|
760.906
|
512.161 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2237.147
|
1719.516
|
1327.277 |
|
|
Other Current Liabilities |
85.087
|
131.366
|
89.807 |
|
|
Provisions |
21.195
|
13.731
|
20.588 |
|
Total
Current Liabilities |
2343.429
|
1864.613
|
1437.672 |
|
|
Net Current Assets |
(863.109)
|
(1103.707)
|
(925.511) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(646.515) |
(873.677) |
(671.221) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8251.515 |
4794.355 |
4365.976 |
|
|
|
Other Income |
10.060 |
4.589 |
0.660 |
|
|
|
TOTAL (A) |
8261.575 |
4798.944 |
4366.636 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Trading Goods |
0.000 |
4454.288 |
4270.922 |
|
|
|
Personnel Expenses |
0.000 |
301.479 |
313.805 |
|
|
|
Operating and Other Expenses |
0.000 |
438.987 |
571.800 |
|
|
|
(Increase) in Inventories |
0.000 |
(38.894) |
(118.013) |
|
|
|
Consumption materials changes inventories |
7526.738 |
0.000 |
0.000 |
|
|
|
Employee related expenses |
349.633 |
0.000 |
0.000 |
|
|
|
Administrative selling other expenses |
439.308 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
8315.679 |
5155.860 |
5038.514 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(54.104) |
(356.916) |
(671.878) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.192 |
22.142 |
26.894 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(92.296) |
(379.058) |
(698.772) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.793 |
24.451 |
22.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(124.089) |
(403.509) |
(721.723) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
9.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(124.089) |
(403.509) |
(730.877) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1670.774) |
(1267.265) |
(536.388) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1794.863) |
(1670.774) |
(1267.265) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.38) |
(16.87) |
(125.89) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(1.50)
|
(8.41)
|
(16.74) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1233.48)
|
(8.42)
|
(16.53) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.22
|
(49.91)
|
(123.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
(0.45)
|
(0.90) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.65)
|
(2.10)
|
(1.95) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.63
|
0.41
|
0.36 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NATURE OF
OPERATIONS:
Spice Retail Limited is into the business of trading in mobile handsets
and related accessories. The Company operates through its chain of outlets
across India.
NOTE:
The Registered office of the company has been shifted from Punjab, India
to the Present Address w.e.f. 07.03.2007
FINANCIAL RESULTS
During the year,
the Company witnessed an increase in turnover by 75% as compared to last year.
The number of stores continued to grow and the Company is one of the largest
players in organized retail. There has been a significant reduction in losses
which is mainly attributable to reduction in costs and increase in gross
margins.
Your Company took a
number of steps to improve its competitive position and increase market share
in key markets. It has maintained its position of dominance in Delhi and
increased its market share in Bangalore with the successful acquisition of
Global Access stores that allowed it to tap higher ASP customers.
The
institutionalization of best of class retail processes has led to a much more
robust store operating model, thus translating into higher Same Store Sales
Growth and increased productivity at store level. The continued focus on
product mix has led to higher gross margins and improved store profitability.
The Company has also focused on incubating new product lines (including IT
products and Tablets) to match new customer expectations. Within the outlets,
the share of smart phone sales has also increased exponentially that will allow
us to lead the mobility retailing market in future.
FIXED ASSETS
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.53.07 |
|
|
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.