MIRA
INFORM REPORT
|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TVC SKY SHOP LIMITED |
|
|
|
|
Registered
Office : |
Khandwala Center, Daftary Road, Malad (East), Mumbai – 400 097,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.05.2000 |
|
|
|
|
Com. Reg. No.: |
11-126357 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.97.166 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2000PLC126357 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT3746Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the Business Trading of Variety of Merchandise through
Sky Shopping. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3540000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a one of the leading Indian telemarketing company. It is an
established company having satisfactory track record. The ratings continue to reflect the company’s above-average financial
risk profile, strong distribution network, and the extensive industry
experience of its promoters in the direct response television segment.
Further profitability of the company seems to be fair. Trade relation are reported as fair. Business is active. Payments are
usually correct. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
01.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
01.04.2013 |
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 PARTED BY
|
Name : |
Mr. Parag |
|
Designation : |
Senior Executive Finance |
|
Contact No.: |
91-9833133925 |
|
Date : |
06.12.2013 |
LOCATIONS
|
Registered Office : |
Khandwala Center, Daftary Road, Malad (East), Mumbai – 400 097,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9833133925 (Mr. Parag) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
301,302, Interface 16, Behind Infinity Mall, New Malad Link Road,
Malad (West), Mumbai – 400 064, Maharashtra, India |
|
Tel. No.: |
91-22-42475959 |
|
Fax No.: |
91-22-42475940 |
|
Area : |
Rented |
|
Location : |
3000 sq. ft. |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Vinod Jagdish Agarwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
9, Sankalp Building, Pushpa Park Road-2, Malad (East), Mumbai – 400
097, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.06.1966 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B. Com |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00123373 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Anshika Vinod Agarwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1501-A, Oberoi Sky Garden, 3rd Cross Road, Andheri (West),
Mumbai – 400 053, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.12.0992 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B. Com |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06445326 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Parag |
|
Designation : |
Senior Executive Finance |
|
|
|
|
Name : |
Mr. Mahesh Katudia |
|
Designation : |
Secretary |
|
Address : |
A-103, Lucky Tower, M. G. Cross Road No.4, Kandivali (West), Mumbai – 400
067, Mharashtra, India |
|
Date of Birth/Age : |
06.12.1974 |
|
Date of Appointment : |
16.11.2006 |
|
PAN No.: |
ALNPK0282A |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vinod Jagdish Agarwal |
|
4174937 |
|
Dinesh Suri |
|
13 |
|
Ashok Kumar Katial |
|
13 |
|
Bhagwati Prasad Agarwal |
|
12 |
|
Manju Shyam Gupta |
|
13 |
|
Rakshit Leasing and Finance private Limited |
|
2489762 |
|
Bestline Mercantile Company Private Limited, India |
|
670000 |
|
Samara Capital Partners Fund I Limited, India |
|
1850564 |
|
Rajiv Maheshwari |
|
24000 |
|
Blend Financial Services Private Limited |
|
74074 |
|
Suresh S Mehta |
|
30000 |
|
Walker Investments, India |
|
299000 |
|
Vinod Lalchand Mehta |
|
50000 |
|
Sarvapratham Investment Limited, India |
|
10000 |
|
Kadayam Ramnathan Bharat |
|
10000 |
|
Advent Advisory Services Private Limited, India |
|
10000 |
|
Mukul Kakar |
|
24230 |
|
|
|
|
|
Total |
|
9716618 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
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 |
22.12 |
|
Bodies corporate |
33.49 |
|
Directors or relatives of Directors |
43.48 |
|
Other top fifty shareholders |
0.91 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Business Trading of Variety of Merchandise
through Sky Shopping. |
|
|
|
|
Exports : |
|
|
Products : |
·
Electric ·
Herbal Products |
|
Countries : |
Dubai |
|
|
|
|
Imports : |
|
|
Products : |
Electronic Products |
|
Countries : |
·
China ·
Honkong |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and T/T |
|
|
|
|
Purchasing : |
L/C, T/T and DP |
GENERAL INFORMATION
|
Suppliers : |
JHK Marketing Private Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Abjuvant Technolog Private Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
350 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Punjab National Bank, Cuffe Parade, Mumbai,
Maharashtra, India ·
Axis Bank Limited, 1st Floor,
Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai – 400 001, Maharashtra,
India ·
State Bank of India, Industrial Finance Branch,
Andheri (East), Mumbai – 400 069,
Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Total Facility= 500.000 Millions (From Punjab National Bank) |
|||||||||||||||
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Sicom Limited, Nirmal Building, 1st Floor, Nariman Point,
Mumbai – 400 021,. Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
H T Merchant and Company Chartered Accountants |
|
Address : |
Flat No.4, Sai Manzil, 1st Floor, 18 Altamount Road, Mumbai
– 400 026, Maharashtra, India |
|
PAN No.: |
AAXPK9986C |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : (AS ON 2012) |
·
Bestline Mercantile Company Private Limited
[U51909MH2004PTC144101] ·
Rakshit Leasing and Finance Limited
[U65990MH1992PTC069666] ·
Satkar Electronics Limited
[L32300MH1992PTC045274] ·
TVC Infra and Realty Limited
[U45400MH2010PLC104870] ·
TVC Networks Limited [U52590MH2004PLC144416] ·
TVC Retail Limited [U51109MH2008PLC186622] ·
TVC Life
Sciences Limited CIN
No.: U24241MH1999PLC118439 Address: Baddi Himachal
Pradesh, India Line
of Business: Manufacturer of Herbal Medicines |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs. 10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9716618 |
Equity Shares |
Rs. 10/- each |
Rs.97.166 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
97.166 |
96.924 |
96.924 |
|
(b) Reserves & Surplus |
787.848 |
746.881 |
722.108 |
|
(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) |
885.014 |
843.805 |
819.032 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.408 |
0.717 |
0.997 |
|
(b) Deferred tax liabilities (Net) |
50.113 |
51.462 |
51.275 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
50.521 |
52.179 |
52.272 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
442.500 |
222.936 |
170.000 |
|
(b) Trade payables |
99.815 |
43.165 |
27.616 |
|
(c) Other current
liabilities |
106.855 |
87.591 |
93.126 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
649.170 |
353.692 |
290.742 |
|
|
|
|
|
|
TOTAL |
1584.705 |
1249.676 |
1162.046 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
117.817 |
116.553 |
99.671 |
|
(ii) Intangible Assets |
67.714 |
76.629 |
87.803 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
30.003 |
30.003 |
30.375 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
359.653 |
247.027 |
173.004 |
|
(e) Other Non-current assets |
0.000 |
7.598 |
15.196 |
|
Total Non-Current Assets |
575.187 |
477.810 |
406.049 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
400.788 |
372.160 |
339.670 |
|
(c) Trade receivables |
299.745 |
150.676 |
123.221 |
|
(d) Cash and cash
equivalents |
17.046 |
8.973 |
10.674 |
|
(e) Short-term loans and advances |
291.939 |
240.057 |
282.432 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1009.518 |
771.866 |
755.997 |
|
|
|
|
|
|
TOTAL |
1584.705 |
1249.676 |
1162.046 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1911.762 |
1749.854 |
1252.588 |
|
|
|
|
Other Income |
1.934 |
0.976 |
5.023 |
|
|
|
|
TOTAL (A) |
1913.696 |
1750.830 |
1257.611 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Purchase of Stock-in-trade |
1536.127 |
1401.261 |
|
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(28.628) |
(32.490) |
|
|
|
|
|
Employee Benefits Expenses |
56.844 |
64.239 |
|
|
|
|
|
Other Expenses |
197.173 |
237.644 |
|
|
|
|
|
TOTAL (B) |
1761.516 |
1670.654 |
1225.706 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
152.180 |
80.176 |
131.905 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
67.533 |
37.500 |
10.696 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
84.647 |
42.676 |
121.209 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
22.524 |
18.866 |
14.489 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
62.123 |
23.810 |
106.720 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
21.156 |
5.363 |
36.400 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
40.967 |
18.447 |
70.320 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Finished Goods |
NA |
82.732 |
156.666 |
|
|
|
TOTAL IMPORTS |
NA |
82.732 |
156.666 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
4.22 |
1.90 |
7.26 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.14
|
1.05 |
5.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.25
|
1.36 |
8.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.20
|
2.47 |
11.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.03 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.50
|
0.27 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
2.18 |
2.60 |
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS:
|
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans taken from
Members |
NA |
0.717 |
|
Short Term Borrowings |
|
|
|
Loans and
Advances from related Parties |
NA |
172.522 |
|
|
|
|
|
Total |
NA |
173.239 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10344301 |
29/02/2012 |
500,000,000.00 |
PUNJAB NATIONAL BANK |
MAKER TOWER, E, GROUND FLOOR, CUFFE PARADE, MUMBAI – 400 005, MAHARASHTRA, INDIA |
B35828060 |
|
2 |
10167948 |
27/05/2009 |
1,448,000.00 |
AXIS BANK LIMITED |
1ST FLOOR, JANMABHOOMI BHAVAN, JANMABHOOMI MARG, FORT, MUMBAI – 400 001, MAHARASHTRA, INDIA |
A65585317 |
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.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
47 |
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.