|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEXT RETAIL INDIA LIMITED (w.e.f. 26.04.2007) |
|
|
|
|
Formerly Known
As : |
E MART INDIA LIMITED |
|
|
|
|
Registered
Office : |
Auto Cars Compound, Adalat Road, Aurangabad – 431 005, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.12.2003 |
|
|
|
|
Com. Reg. No.: |
11-143371 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1112.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395MH2003PLC143371 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKE00404F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE3142P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in trading of Electrical and Electronic
Appliances. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
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 6427000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Videocon Group. It is an established company having a moderate track record. The latest
financials are not made available with the Government Department. As per previous year’s, the profitability of the company appears to be
low. The external borrowing seems to be huge. However, the subject gets strong support from its group companies.
Trade relations are reported to be fair. Business is active. Payments are
unknown. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Chaitanya |
|
Designation : |
Account Executive |
|
Contact No.: |
91-240-2342265 |
|
Date : |
13.04.2013 |
LOCATIONS
|
Registered Office : |
Auto Cars Compound, Adalat Road, Aurangabad – 431 005, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 sq ft |
|
Location : |
Owned |
|
|
|
|
Mumbai - Head
Office : |
Techweb Centre, Ground Floor, Next to Raigad Military School, New Link
Road, Beharam Bagh, Oshiwara, Jogeshwari (West), Mumbai – 400 102, Maharashtra,
India. |
|
Tel No.: |
91-22-42553000 |
|
|
|
|
Branch Office 1
: |
Shahanur Wadi Road, Pratap Nagar, Near Akshay Dental Hospital, Aurangabad – 431 005, Maharashtra, India |
|
Tel. No.: |
91-240-2342265 |
|
|
|
|
Branch Office : |
Also located at:
·
Gurgaon ·
Lucknow ·
Ghaziabad ·
Chandigarh ·
Jaipur ·
Kolkata ·
Ranchi ·
Raipur ·
Indore ·
Nagpur ·
Pune · Nasik · Surat · Ahmedabad · Bangalore ·
Hyderabad ·
Vijayawada ·
Tirupati ·
Calicut ·
Cochin ·
Chennai ·
Madurai |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Krishnamahari Soundrarajan Raman |
|
Designation : |
Director |
|
Address : |
67, Mysore Colony, RCF P.O., Chembur, Mumbai
– 400 074, Maharashtra, India |
|
Date of Birth/Age : |
17.07.1947 |
|
Date of Appointment : |
06.11.2004 |
|
DIN : |
00096768 |
|
|
|
|
Name : |
Mr. Sanjay Jugalkishore Karwa |
|
Designation : |
Director |
|
Address : |
Flat No.39, Ahinsa Nagar, Aurangabad – 431
001, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1967 |
|
Date of Appointment : |
06.01.2012 |
|
DIN : |
03602469 |
|
|
|
|
Name : |
Mrs. Radhika Saurabh Dhoot |
|
Designation : |
Additional Director |
|
Address : |
House No.61, Sector 5, Chandigarh – 160 005,
India |
|
Date of Birth/Age : |
27.01.1984 |
|
Date of Appointment : |
06.01.2012 |
|
DIN : |
00007727 |
KEY EXECUTIVES
|
Name : |
Mr. Bipinchandra Madhav Joglekar |
|
Designation : |
Secretary |
|
Address : |
Plot No.39, Manas Building, Sudarshan Nagar,
Chinchwad, Pune – 411 033, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1987 |
|
Date of Appointment : |
10.09.2012 |
|
PAN No.: |
AMXPJ2768D |
|
|
|
|
Name : |
Mr. Chaitanya |
|
Designation : |
Account Executive |
|
E-Mail: |
|
|
|
|
|
Name : |
Mr. Sunil Mehta |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Platinum Appliances
Private Limited, India |
|
36000 |
|
Synergy Appliances
Private Limited, India |
|
36000 |
|
Dome-bell Electronics
India Private Limited, India |
|
15036000 |
|
Videocon Industries
Limited, India |
|
21036000 |
|
Greenfield Appliances
Private Limited, India |
|
36000 |
|
Shree Dhoot Trading and
Agencies Limited, India |
|
15010000 |
|
Solitaire Appliances
Private Limited, India |
|
10000 |
|
Force Appliances Private
Limited, India |
|
15000000 |
|
Applicomp (India)
Limited, India |
|
15000000 |
|
Electroparts (India) Private
Limited, India |
|
10000000 |
|
TekCare India Private
Limited, India |
|
5000000 |
|
Waluj Components Private
Limited, India |
|
5000000 |
|
Anirudha V. Dhoot |
|
2000000 |
|
Saurabh P. Dhoot |
|
2000000 |
|
Venugopal N. Dhoot |
|
2000000 |
|
Pradipkumar N. Dhoot |
|
2000000 |
|
Rajkumar
N. Dhoot |
|
2000000 |
|
Total |
|
111200000 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
91.01 |
|
Directors
or relatives of directors |
|
1.80 |
|
Other
top fifty shareholders |
|
7.19 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in trading of Electrical and Electronic
Appliances. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe
Parade, Mumbai - 400 005, Maharashtra, India ·
Allahabad Bank, Industrial Finance Branch, 2nd
Floor, 37, Mumbai Samachar Marg, Mumbai – 400 023, Maharashtra, India ·
ICICI Bank Limited, Bandra Kurla Complex, Mumbai,
Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Notes: (A) Working
capital loan from banks and financial institutions are secured by hypothecation
of stocks of packing materials, finished goods, stores, book debts and all
other current assets of the Company, including stock-in-transit, on pari
passu basis. These are further secured by second charge over the fixed assets
of the Company ranking pari passu. (B) Working
capital loan from banks and financial institutions are secured by
hypothecation of stocks of packing materials, finished goods, stores, book
debts and all other current assets of the Company, including
stock-in-transit, on pari passu basis. These are further secured by second
charge over the fixed assets of the Company ranking pari passu. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,
Colaba, Mumbai – 400 005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
KSS and Company Chartered Accountants |
|
Address : |
3801, Barde Lane, Navi Peth, Ahmedabad – 414 001, Maharashtra, India |
|
PAN No: |
AAIFK3397A |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
111200000 |
Equity Shares |
Rs.10/- each
|
Rs.1112.000
millions |
|
|
|
|
|
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 |
1112.000 |
1112.000 |
1002.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1000.000 |
|
|
3] Reserves & Surplus |
494.825 |
477.084 |
13.874 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1606.825 |
1589.084 |
2015.874 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3040.525 |
2349.067 |
2300.646 |
|
|
2] Unsecured Loans |
3538.675 |
999.990 |
997.851 |
|
|
TOTAL BORROWING |
6579.200 |
3349.057 |
3298.497 |
|
|
DEFERRED TAX LIABILITIES |
20.482 |
9.652 |
12.718 |
|
|
|
|
|
|
|
|
TOTAL |
8206.507 |
4947.793 |
5327.089 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
419.447 |
388.056 |
328.793 |
|
|
Capital work-in-progress |
82.272 |
82.342 |
77.284 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.090 |
11.000 |
11.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3939.265
|
3290.583
|
2969.982
|
|
|
Sundry Debtors |
1709.101
|
1137.888
|
901.904
|
|
|
Cash & Bank Balances |
1570.780
|
180.266
|
266.953
|
|
|
Other Current Assets |
152.662
|
130.430
|
159.175
|
|
|
Loans & Advances |
1792.508
|
858.790
|
1998.882
|
|
Total
Current Assets |
9164.316
|
5597.957 |
6296.896
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1149.169
|
849.408
|
1238.906
|
|
|
Other Current Liabilities |
305.805
|
277.251
|
144.668
|
|
|
Provisions |
6.644
|
4.903
|
3.310
|
|
Total
Current Liabilities |
1461.618
|
1131.562 |
1386.884
|
|
|
Net Current Assets |
7702.698
|
4466.395 |
4910.012
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8206.507 |
4947.793 |
5327.089 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
12532.960 |
10925.823 |
8270.988 |
|
|
|
Other Income |
58.783 |
14.267 |
157.959 |
|
|
|
TOTAL |
12591.743 |
10940.090 |
8428.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
9956.749 |
9392.457 |
6965.676 |
|
|
|
Employee related expenses |
343.318 |
280.864 |
284.168 |
|
|
|
Administrative selling other expenses |
1591.831 |
855.146 |
878.651 |
|
|
|
TOTAL |
11891.898 |
10528.467 |
8128.495 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
699.845 |
411.623 |
300.452 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL EXPENSES |
628.581 |
350.572 |
248.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.264 |
61.051 |
51.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
40.910 |
41.004 |
31.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
30.354 |
20.047 |
20.296 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.613 |
(3.163) |
18.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
17.741 |
23.210 |
1.656 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.084 |
13.874 |
12.218 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
54.825 |
37.084 |
13.874 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.16 |
0.22 |
0.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.14
|
0.21
|
0.02
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24
|
0.18
|
0.24
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.32
|
0.33
|
0.31
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.01
|
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.09
|
2.11
|
1.64
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.27
|
4.95
|
4.54
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
31.03.2009 (Rs.
in millions) |
|
Sundry Creditors
|
|
|
|
|
- Creditors due small micro enterprises |
-- |
-- |
-- |
|
- Creditors due others |
1149.169
|
849.408
|
1238.906
|
|
Total |
1149.169
|
849.408
|
1238.906
|
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Rupee term loans
banks unsecured |
3538.675 |
999.990 |
|
Total
|
3538.675 |
999.990 |
OPERATIONS:
During the year,
the Company has earned a total income of Rs.12591.740 millions as against
Rs.10940.090 millions for the previous year representing an increase of 15.10%
as compared to the previous year. Total Expenditure amounted to Rs.12561.380
millions as against Rs.10920.040 millions and the Net Profit after Tax amounted
to Rs.18.040 millions as against Rs.23.110 million for the previous year.
During the year,
the Company has made a steady growth in the field of trading of Electrical and
Electronic Appliances and there has been a considerable increase in the number
of retail outlets of the Company throughout India.
During the year,
Planet ‘M’ Retail Limited ceased to be the subsidiary of the Company.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51395MH2003PLC143371 |
|
Name of the
company |
NEXT RETAIL INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Auto Cars Compound,
Adalat Road, Aurangabad - 431 005,
Maharashtra, India E-Mail: nextretailindia@rediffmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Uncalled share
capital Immovable property Any interest in
immovable property Book debts Movable property
(not being pledge) Floating charge Others (Onshore
Trust and Retention Account, Current Assets) Calls made but
not paid Goodwill Patent, license
under a patent Trademark Copyright or license under a copyright |
|
Particular of
charge holder |
CIN No.: U65991MH2005PLC158386 SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,
Colaba, Mumbai – 400 005, Maharashtra, India E-Mail: corporate@sbicaptrustee.com |
|
Nature of
instrument creating charge |
Indenture of
Mortgage dated March 20, 2013 executed by Next Retail India Limited (the
Company) in favour of SBICAP Trustee Company Limited, the Onshore Security Trustee
acting for and on behalf of all the Rupee Term Loan Lender Banks. |
|
Date of
instrument Creating the charge |
20.03.2013 |
|
Amount secured by
the charge |
Rs.174720.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Margin: Nil Extent and
Operation of the charge: The Charge operates as inter alia, security for the
due repayment, redemption and discharge of RTL Facility availed by the
Company together with group Companies from the Lenders together with all
interest, additional interest, default interest and any other amounts, fees,
costs, charges, expenses and other monies due and payable to the Lender under
various Financing Documents, more specifically described in Clause 5 and 6 of
the Indenture of Mortgage. Others: As agreed to
between the Company and all the Lender Banks from time to time. |
|
Short particulars of the property charged |
The PART of piece or parcel of 50.00 sq. mtrs.
(Hissa No.2) out of Plot No. 20 total admeasuring 511.00 sq. mtrs. out of
Survey No.121/4 situated at Chahurana Bk., Ahmednagar and all of Company's
movables, plant and machinery, more particularly described in clause 5(a)(ii)
of the Indenture of Mortgage; all rights, title, interest, benefit, claims
and demands whatsoever in respect of Accounts, operating cash flows,
receivable more particularly described in Clause 5(a) (iii) of the Indenture
of Mortgage; all other assets of the Company, including cash in hand,
investments made by Company, more particularly described in Clause 5 (a)(iv)
of the Indenture of Mortgage; General Assets of the Company, more
particularly described in Clause 5 (a)(v) of the Indenture of Mortgage. |
FIXED ASSETS:
Tangible Assets:
·
Building
·
Electrical Installation
·
Computers
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
Intangible Assets:
·
Computer Software
WEBSITE DETAILS:
NEWS:
VIDEOCON TO SELL 40% IN NEXT RETAIL
MUMBAI, JUNE 27 2012
Television and electronic appliance maker Videocon Industries, which has
interest in oil and natural gas, will sell a 40 per cent stake in its retail
chain Next Retail India, a senior company official said.
“The company has appointed investment banker Morgan Stanely India to find a
buyer,” Videocon Industries chairman Venugopal Dhoot said on Monday. “We are in
talks with four retail chains from the US and Europe, which operate in the same
segment.” He, however, refused to divulge names of buyers as the deal is still
in the works.
Next Retail, set up in 2003 sells mobiles, television sets, cameras,
washing machines, home and kitchen appliances through 730 stores in India. “We
will sell a 40 per cent now and later sell an additional 11 per cent later,”
Dhoot said.
In December 2011, the retail chain planned to sell a controlling stake in
its retail chain to the $50-billion US electronic retail chain Best Buy, but
talks failed as the world’s largest electronics retail chain got involved in a
legal tussle over delayed shipments of HTC phones.
Consultants say margin from electronic retail chains is lower compared to
food and grocery and apparel chains. “While gross margins in food and grocery
are 18-20 per cent, in apparel 35-40 per cent and in luxury goods it is as high
as 60 per cent, consumer durables and electronics give only 10-12 per cent
margins”, said Arvind Singhal, chairman of Technopak Advisors.
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 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.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.