1. Summary Information
|
|
|
Country |
|
|
Company Name |
INFINITI
WHOLESALE LIMITED |
Principal Name 1 |
Mr. Ramnik Lal Narsey |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Thomas Willam
Pockett |
|
|
|
Registration # |
11-159768 |
|
Street Address |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
||
|
Established Date |
15.02.2006 |
SIC Code |
-- |
|
Telephone# |
91-22-67332000 |
Business Style 1 |
Trader |
|
Fax # |
91-22-67332055 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Consumer Electronics |
|
|
# of employees |
90
(Approximately) |
Product Name 2 |
Domestic Appliances |
|
Paid up capital |
Rs.65,488,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
Axis Bank |
|
Public Limited Corp. |
-- |
Business Period |
7 Years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba
(52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiaries |
India
|
Dick Smith Electronics Pty Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
955,096,000 |
Current Liabilities |
931,351,000 |
|
Inventories |
1,291,138,000 |
Long-term Liabilities |
928,493,000 |
|
Fixed Assets |
80,021,000 |
Other Liabilities |
15,243,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,875,087,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
385,680,000 |
|
|
|
Net Worth |
451,168,000 |
|
Total Assets |
2,326,255,000 |
Total Liab. & Equity |
2,326,255,000 |
|
Total Assets (Previous Year) |
1,446,439,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
17,619,674,000 |
Net Profit |
183,934,000 |
|
Sales(Previous yr) |
10,893,960,000 |
Net Profit(Prev.yr) |
156,352,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
INFINITI WHOLESALE LIMITED |
|
|
|
|
Formerly Known
As : |
INFINITI WHOLESALE PRIVATE LIMITED (w.e.f.03.11.2012) WOOLWORTHS WHOLESALE (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri (East),
Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.02.2006 |
|
|
|
|
Com. Reg. No.: |
11-159768 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 65.488
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2006PTC159768 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Consumer Electronics, Domestic Appliances, Entertainment Products,
Machineries Equipment Accessories, Communication Equipments. |
|
|
|
|
No. of Employees
: |
90
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Infiniti Retail Limited” which is a wholly owned
subsidiary of “Tata Sons”. It is an established company having satisfactory
track record. The company has reported a better growth in its sales turnover as well
as net profitability during 2012. Capital structure appears to be good. Ratings also take into consideration, the strong financial and
managerial support which the subject gets from its holding company. Trade relations are fair. Business is active. Payment terms are
regular. The company can be considered normal 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-67332000 |
|
Fax No.: |
91-22-67332055 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
Located at Bhiwandi, Maharashtra, India |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Nikhil Rajendra Chandarana |
|
Designation : |
Additional Director |
|
Address : |
Kashyap, 5/8/57/D, Nampally Station Road, Hyderabad-500001, Andhra
Pradesh, India |
|
Date of Birth/Age : |
15.04.1979 |
|
Date of Appointment : |
17.09.2012 |
|
Date of Cessation : |
15.10.2012 |
|
DIN No.: |
06390957 |
|
|
|
|
Name : |
Mr. Ramnaik Lal Narsey |
|
Designation : |
Chairman and Director |
|
Address : |
Flat No. 6, 6th Floor, Ashford Apartment, 1/26A Ridge Road, Malabar
Hill Mumbai 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
11.01.1958 |
|
Date of Appointment : |
13.04.2011 |
|
Date of Cessation : |
15.10.2012 |
|
DIN No.: |
03523780 |
|
|
|
|
Name : |
Mr. Thomas William Pockett |
|
Designation : |
Director |
|
Address : |
47, |
|
Date of Birth/Age : |
04.01.1958 |
|
Date of Appointment : |
17.03.2006 |
|
Date of Cessation : |
15.10.2012 |
|
DIN No.: |
01922408 |
KEY EXECUTIVES
|
Name : |
Mr. Vikram Jain |
|
Designation : |
Company Secretary |
|
Address : |
3/ 9, Parijat Co-Operative Housing Society Limited, 1st
Cross, Dindayal Road, Vishnunagar, Dombivli (West), Thane – 421202,
Maharashtra, India |
|
Date of Birth/Age : |
30.09.1973 |
|
Date of Appointment : |
08.01.2008 |
|
Pan No.: |
ACCPJ9384Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Woolworths (International) Pty. Limited, New South Wales |
6548772 |
|
Woolworths Management Pty. Limited, New South Wales |
1 |
|
TOTAL
|
6548773 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Consumer Electronics, Domestic Appliances, Entertainment Products,
Machineries Equipment Accessories, Communication Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
90
(Approximately) |
|
|
|
|
Bankers : |
Axis Bank, Andheri Branch, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
31, Nutan Bharat Society, Alkapuri-390007, Vadodara, Gujarat,
India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Ultimate Holding Company : |
Woolworths Limited |
|
|
|
|
Holding Company : |
Woolworths (International) Pty Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Woolworths Management Pty Limited ·
Dick Smith Electronics Pty Limited ·
Woolworths H.K. Sales Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6548773 |
Equity Shares |
Rs.10/- each |
Rs. 65.488
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 [12 Months] |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
65.488 |
|
(b) Reserves & Surplus |
|
|
385.680 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
451.168 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
13.346 |
|
Total Non-current Liabilities (3) |
|
|
13.346 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
|
928.493 |
|
(b) Trade payables |
|
|
898.438 |
|
(c) Other current
liabilities |
|
|
32.913 |
|
(d) Short-term provisions |
|
|
1.897 |
|
Total Current Liabilities (4) |
|
|
1861.741 |
|
|
|
|
|
|
TOTAL |
|
|
2326.255 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
79.067 |
|
(ii) Intangible Assets |
|
|
0.954 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
351.200 |
|
(e) Other Non-current assets |
|
|
0.250 |
|
Total Non-Current Assets |
|
|
431.471 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1291.138 |
|
(c) Trade receivables |
|
|
432.712 |
|
(d) Cash and cash
equivalents |
|
|
3.654 |
|
(e) Short-term loans
and advances |
|
|
151.022 |
|
(f) Other current
assets |
|
|
16.258 |
|
Total Current Assets |
|
|
1894.784 |
|
|
|
|
|
|
TOTAL |
|
|
2326.255 |
|
SOURCES OF FUNDS |
|
31.03.2011 [9 Months] |
27.06.2010 [12 Months] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
65.488 |
65.488 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
496.947 |
496.947 |
|
|
4] (Accumulated Losses) |
|
(295.201) |
(451.553) |
|
|
NETWORTH |
|
267.234 |
110.882 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
600.000 |
450.000 |
|
|
TOTAL BORROWING |
|
600.000 |
450.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
FINANCE LEASE OBLIGATIONS |
|
12.176 |
15.218 |
|
|
|
|
|
|
|
|
TOTAL |
|
879.410 |
576.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
77.987 |
84.487 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
936.587
|
658.604
|
|
|
Sundry Debtors |
|
14.692
|
188.874
|
|
|
Cash & Bank Balances |
|
45.289
|
70.446
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
371.884
|
239.376
|
|
Total
Current Assets |
|
1368.452 |
1157.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
548.722
|
649.608
|
|
|
Other Current Liabilities |
|
7.209
|
6.687
|
|
|
Provisions |
|
11.098
|
9.392
|
|
Total
Current Liabilities |
|
567.029 |
665.687 |
|
|
Net Current Assets |
|
801.423
|
491.613
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
879.410 |
576.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 [12 Months] |
31.03.2011 [9 Months] |
27.06.2010 [12 Months] |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
17619.674 |
10893.960 |
|
|
|
|
Other Income |
0.239 |
0.411 |
|
|
|
|
TOTAL (A) |
17619.913 |
10894.371 |
10493.355 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
17254.390 |
10730.770 |
|
|
|
|
Employee benefit expense |
192.170 |
97.625 |
|
|
|
|
Other expenses |
263.103 |
137.593 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(354.550) |
(277.983) |
|
|
|
|
TOTAL (B) |
17355.113 |
10688.005 |
10431.085 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
264.800 |
206.366 |
(Including Financial |
|
|
|
|
|
|
Expenses) |
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.261 |
37.487 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
199.539 |
168.879 |
62.270 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.605 |
12.057 |
15.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
183.934 |
156.822 |
46.790 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.470 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
183.934 |
156.352 |
46.790 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(295.201) |
(451.553) |
(498.343) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(111.267) |
(295.201) |
(451.553) |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
205.592 |
130.273 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
28.09 |
23.87 |
7.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 [12 Months] |
31.03.2011 [9 Months] |
27.06.2010 [12 Months] |
|
PAT / Total Income |
(%) |
1.04
|
1.44 |
0.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.04
|
1.44 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.91
|
10.84 |
3.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.59 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.06
|
2.25 |
4.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
2.41 |
1.74 |
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 |
No |
|
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 |
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) |
Yes |
|
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 |
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 |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Other Loans and
Advances |
|
|
|
Short Term Borrowings from a Bank |
130.000 |
600.000 |
|
Loans Repayable on Demand from Banks |
798.493 |
0.000 |
|
|
|
|
|
TOTAL |
928.493 |
600.000 |
|
NOTES SHORT TERM
BORROWINGS (i)
Corporate guarantee given by Woolworths Limited -
the ultimate holding company. (ii)
The present interest rates are in the range of
12.20% to 14.65% p.a (iii)
The present interest rate is 16% p.a |
||
NOTE
1.
The financial year of the Company has been changed
to tax financial year and hence the results are presented for 9 months period
ending on 31st March 2011.
2.
Register office has been shifted from 5th
Floor, Peninsula Chambers, Peninsula Corporate Park, Ganpatrao Kadam Marg,
Lower Parel, Mumbai-400013, Maharashtra, India to the present address w.e.f.
14.08.2006
FIXED ASSETS
· Plant and Equipment
· Office Equipment
· Computer Hardware
· Furniture and Fixtures
· Plant – Motor Vehicles
· Software
WEBSITE DETAILS
NEWS
TATA SONS' INFINITI RETAIL BUYS WOOLWORTHS
WHOLESALE INDIA FOR RS 2000.000 MILLIONS
PTI Sep 27, 2012, 10.23AM IST
NEW DELHI: Infiniti Retail Limited, a wholly-owned subsidiary
of Tata Sons, today said it is acquiring Australian retailer Woolworths'
wholesale arm in India for Australian dollar (AUD) 35 million (about Rs
2000.000 Millions).
The acquisition comes in the wake of the Australian
firm deciding to exit the specialty consumer electronics category and divest
the business in Australia and New Zealand as well, apart from India.
Post the completion of the transaction, Infiniti
Retail, which operates the Croma retail
chain will merge Woolworths Wholesale (India) Private Limited with
itself.
"Over the last six years we have had an
excellent relationship with them and when they were exiting the business we
were only happy to take over," Infiniti Retail Limited Managing Director
and CEO Ajit Joshi said.
Woolworths Limited had entered into a relationship
with the Tatas in 2005 under which it provided wholesale support to Infiniti
Retail's Croma chain of electronic goods and durables stores in India.
When asked about the valuation of the deal, he
said: "This will be AUD 35 million. Tata Sons has invested Rs 2200.000
Millions for this acquisition. The remaining portion of the funding will be
used for our expansion."
With the latest funding, Tata Sons' investment in
Infiniti retail has gone up to Rs 7000.000 Millions from Rs 4800.000 Millions
earlier, he added.
As part of the acquisition, which is expected to be
completed with a week's time, Joshi said 93 employees of Woolworths Wholesale
(India) will be on the rolls of Infiniti Retail.
"What we gain from the acquisition is that we
will be getting trained people for sourcing. They were running seven warehouses
for supplying to our Chroma stores, which will now be run by us," he said,
adding there would not be any retrenchment of employees.
Commenting on the development, Woolworths Wholesale
India Private Limited Indian Chairman Ramnik Narsey said: "Both parties
entered into this venture with the intention of merging the wholesale and
retail businesses once FDI regulations were relaxed."
He added, "However, with our decision to exit
the consumer electronics specialty store sector in Australia and New Zealand,
we have now decided to sell the wholesale business in India to Infiniti."
Infiniti Retail runs a chain of stores selling
consumer electronics and durables across India under the Chroma brand. It has a
total of 85 stores at present.
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. 59.64 |
|
|
1 |
Rs. 90.14 |
|
Euro |
1 |
Rs. 77.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.