MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
DIAGEO INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DIAGEO INDIA LIMITED (W.E.F. 11.02.2005) UDV INDIA LIMITED (W.E.F. 18.01.2000) INTERNATIONAL DISTILLER ( |
|
|
|
|
Registered Office : |
4th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
08.10.1993 |
|
|
|
|
Com. Reg. No.: |
11-080795 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 2010.356
millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1993PTC080795 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU03508B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACI3378L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Marketing of various international and
local brands of Alcoholic Beverages. |
|
|
|
|
No. of Employees: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Selviac Nederlands B.V.” having a
satisfactory track record. The company has recorded huge accumulated losses during 2012. However,
financial position appears to be strong. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of strong holding company the subject 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : “AA-” |
|
Rating Explanation |
High degree of safety and low credit risk |
|
Date |
March 12, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
March 12, 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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-67542525)
LOCATIONS
|
Registered Office : |
4th Floor, |
|
Tel. No.: |
91-22-67542525 |
|
Fax No.: |
91-22-24952671 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 26.12.2012
|
Name : |
Ms. Abanti Sankaranarayanan |
|
Designation : |
Managing director |
|
Address : |
6, Palm Court, 2nd Floor, 152, Maharshi Karve Road, Opposite Oval, Churchgate, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
14.08.1969 |
|
Date of Appointment : |
28.03.2012 |
|
PAN No.: |
AAOPS7530B |
|
DIN No. : |
01788443 |
|
|
|
|
Name : |
Mr. Devraj Doss |
|
Designation : |
Director |
|
Address : |
Flat No.71/72, 7th Floor, Lord’s Apartment Almedia Park, Bandra (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
03.10.1972 |
|
Date of Appointment : |
10.10.2012 |
|
DIN No. : |
03597903 |
|
|
|
|
Name : |
Mr. Krishnan Ramesh |
|
Designation : |
Additional director |
|
Address : |
W163/3, Park Road, Annanagar (West), Extension, Chennai, Tamilnadu, India |
|
Date of Birth/Age : |
22.08.1963 |
|
Date of Appointment : |
24.07.2012 |
|
DIN No. : |
05340141 |
KEY EXECUTIVES
|
Name : |
Mr. Ankur Jolly |
|
Designation : |
Secretary |
|
Date of Appointment : |
16.07.2012 |
|
PAN No.: |
AEFPJ8123G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Selviac Nederlands BV, Nederland |
|
20103542 |
|
Diageo Investment Holdings B.V., Nederland |
|
13 |
|
Total |
|
20103555 |
As on 26.12.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 : |
Manufacturing and Marketing of various international and
local brands of Alcoholic Beverages. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Standard Chartered Bank, 90, Mahatma Gandhi Road, Fort, Mumbai –
400001, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Note : Long-term
borrowings : The Company has acquired certain computers and vehicles under finance lease for a non-cancellable period of 3 years and 4 years respectively. At the inception of the lease, fair value of such computers and vehicles has been recorded as an asset under gross block of computers and vehicles respectively with a corresponding lease obligation. As per the lease agreement, ownership of these computers and vehicles would not transfer to the Company Short term borrowings : Cash credit and overdraft facilities from bank carry interest ranging between 10-12% per annum, computed on a monthly basis on the actual amount utilised and are payable on demand. These are secured by hypothecation of inventories and trade receivables, both present and future |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
1st Floor, Apoollo Mills Compound, N. M. Joshi Marg,
Mahalakshmi, Mumbai-400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39896000 |
|
Pan No: |
AAAFB9852F |
|
|
|
|
Holding
Company : |
Selviac Nederlands B.V, Nederland |
|
|
|
|
Ultimate Holding
Company : |
Diageo Plc, United Kingdom |
|
|
|
|
Fellow Subsidiary
companies : |
· Diageo Scotland Limited Diageo
Brands BV Diageo
North America Inc Diageo
America Supply Inc. Diageo
Great Britain Limited Diageo
Singapore Pte Limited Diageo
Singapore Supply Pte Limited Diageo
Holdings Netherlands B. V. Diageo
Investment Holdings B.V. Diageo
Radico Distillers Private Limited Diageo
Lebanon S.A.L. Diageo
Ireland Diageo
Business Services Limited Diageo
Korea Company Limited Diageo
Philippines, Inc Diageo
Moet Hennessy (Thailand) Limited Selviac
Netherlands B.V Ketel
One Worldwide BV |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.100/- each |
Rs. 2250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20103555 |
Equity Shares |
Rs.100/- each |
Rs. 2010.356 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.06.2012 |
30.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2010.356 |
910.356 |
|
(b) Reserves & Surplus |
|
(598.719) |
(472.930) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1411.637 |
437.426 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
7.021 |
8.995 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
1.395 |
4.633 |
|
(d) long-term provisions |
|
83.129 |
57.193 |
|
Total Non-current Liabilities (3) |
|
91.545 |
70.821 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
604.109 |
1060.114 |
|
(b) Trade payables |
|
1174.040 |
838.744 |
|
(c) Other current
liabilities |
|
429.872 |
464.554 |
|
(d) Short-term provisions |
|
56.986 |
69.108 |
|
Total Current Liabilities (4) |
|
2265.007 |
2432.520 |
|
|
|
|
|
|
TOTAL |
|
3768.189 |
2940.767 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
101.556 |
77.528 |
|
(ii) Intangible Assets |
|
250.928 |
317.517 |
|
(iii) Capital
work-in-progress |
|
9.345 |
1.985 |
|
(iv) Intangible
assets under development |
|
7.384 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
195.843 |
205.010 |
|
(e) Other Non-current assets |
|
6.854 |
6.305 |
|
Total Non-Current Assets |
|
571.910 |
608.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
692.441 |
354.191 |
|
(c) Trade receivables |
|
1694.039 |
1395.382 |
|
(d) Cash and cash
equivalents |
|
55.140 |
6.463 |
|
(e) Short-term loans and
advances |
|
754.659 |
576.386 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
3196.279 |
2332.422 |
|
|
|
|
|
|
TOTAL |
|
3768.189 |
2940.767 |
|
SOURCES OF FUNDS |
|
|
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
910.356 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(502.989] |
|
|
NETWORTH |
|
|
407.367 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
466.491 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
466.491 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
873.858 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
74.422 |
|
|
Capital work-in-progress |
|
|
66.349 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
209.356
|
|
|
Sundry Debtors |
|
|
782.375
|
|
|
Cash & Bank Balances |
|
|
34.000
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
620.252
|
|
Total
Current Assets |
|
|
1645.983 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
369.291
|
|
|
Other Current Liabilities |
|
|
496.010
|
|
|
Provisions |
|
|
47.595
|
|
Total
Current Liabilities |
|
|
912.896 |
|
|
Net Current Assets |
|
|
733.087
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
873.858 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Income from bottling arrangement with third parties |
|
|
2115.000 |
|
|
|
Service Income |
|
|
103.884 |
|
|
|
Brand Contribution |
|
|
233.432 |
|
|
|
Other Income |
|
|
19.759 |
|
|
|
TOTAL (A) |
5802.234 |
4256.759 |
2472.075 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
|
484.734 |
|
|
|
Cost of Goods Sold for Traded Goods |
|
|
118.041 |
|
|
|
Personnel Costs |
|
|
458.916 |
|
|
|
Selling, General and Administrative Expenses |
|
|
1261.873 |
|
|
|
Assets Impairment Provision |
|
|
3.863 |
|
|
|
Increase/ Decrease in stock |
5928.024 |
4275.017 |
(0.651) |
|
|
|
TOTAL (B) |
|
|
2326.776 |
|
|
|
(Including |
(Including |
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
Financial Expenses and |
Financial Expenses and |
145.299 |
|
|
|
|
Depreciation) |
Depreciation) |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
37.605 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
107.694 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
21.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(125.790) |
81.742 |
86.455 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
51.683 |
20.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(125.790) |
30.059 |
65.835 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(472.930) |
(502.989) |
(568.824) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(598.720) |
(472.930) |
(502.989) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
|
|
102.624 |
|
|
|
Brand Contribution |
|
|
233.432 |
|
|
|
|
|
|
0.373 |
|
|
TOTAL EARNINGS |
1003.747 |
599.490 |
336.429 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
135.890 |
79.525 |
|
|
|
Finished Goods |
|
487.351 |
149.528 |
|
|
|
ERP Implementation cost (included in Capital Work in progress) |
|
178.358 |
48.158 |
|
|
|
Capital Goods |
|
0.364 |
0.000 |
|
|
|
Advertisement and promotion material |
|
18.071 |
3.236 |
|
|
TOTAL IMPORTS |
NA |
820.034 |
280.447 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(6.26) |
3.30 |
7.23 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
PAT / Total Income |
(%) |
(2.17)
|
0.71
|
2.66
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
4.09
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.35)
|
2.78
|
5.03
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.19
|
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.43
|
2.44
|
1.15
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
0.96
|
1.80
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditor |
1174.040 |
838.744 |
369.291 |
|
Total |
1174.040 |
838.744 |
369.291 |
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BACKGROUND
Subject (‘the Company’) was incorporated on 8 October 1993.
The Company’s key business activities comprise manufacturing and marketing of various international and local brands of alcoholic beverages, for domestic consumption. Effective 1 April 2006, the Company has taken the manufacturing license of the third parties on lease and thus, all purchases and sales are in the name of the Company. In 2007, the Company has entered into arrangements with bottling units for production of Indian Made Foreign Liquor (‘IMFL’) brands. The production in the premises of third party units is carried out under close supervision of the Company. The Company is also required to ensure adequate finance to the third party bottling units. Since 2010, the Company has been importing “Bottled In Origin” (BIO) products for its further sale in India Domestic market.
OPERATIONS AND
PROSPECTS
The company has registered a growth of about 40 % on the topline. The directors will strive for better results in the current year and are hopeful of the company turning around.
UNSECURED LOANS
|
Particulars |
30.06.2012 (Rs.
in Millions) |
30.06.2011 (Rs.
in Millions) |
|
Short term
borrowings |
|
|
|
Loans
repayable on demand Cash Credit and overdraft facilities from banks |
599.109 |
1055.114 |
|
Total |
599.109 |
1055.114 |
Note:
Short term borrowings
:
Cash credit and overdraft facilities from bank carry interest ranging between 10-12% per annum, computed on a monthly basis on the actual amount utilised and are payable on demand. These credits are available on the basis of corporate guarantee from holding Company.
FIXED ASSETS
]
Tangible
Assets
Plant
Furniture
and fixture
Leasehold
building
Car
– owned
Car
– Leased
Computers
]
Intangible Assets
Software
PRESS RELEASE
DIAGEO PLC COMPLETES STAKE PURCHASE IN UNITED SPIRITS, GETS ONLY 25.02
PC
July 5, 2013,
MUMBAI: British spirits maker Diageo PLC has raised its stake in India's largest spirits maker United Spirits to 25% and have appointed five directors on the board chaired by liquor baron Vijay Mallya. United Breweries Holdings, the holding company of UB Group, and some companies owned by Mallya have sold roughly 15% in United Spirits (USL) to Diageo for Rs 31350.000 millions.
"USL's strong market-leading position combined with Diageo's strength and capabilities opens an exciting and important new chapter for Diageo in the attractive Indian spirits market,'' Ivan Menezes, chief executive Diageo, said after completing the transaction on Thursday.
Diageo has so far spent Rs 52350.000 millions to own about half the stake it targeted in November last when it entered into an agreement with Mallya to buy 53.4% stake in United Spirits for Rs 111660.000 millions by first purchasing a 27.4% stake directly from Mallya and 26% through an open offer.
"Having completed the share purchase, we will now begin the work to identify and capture the significant growth opportunities within this attractive market," Menezes said. Diageo has nominated Gilbert Ghostine and Ravi Rajagopal as non-executive directors and PA Murali as chief financial officer and executive director.
Other new non-executive directors include Arun Gandhi, Sudhakar Rao, D Sivanandhan and Renu Kamad. Vijay Mallya will continue as non-executive director and chairman of United Spirits and Ashok Capoor will continue as CEO.
"USL has entered into the next stage on its journey and I look forward to remaining part of that journey in my role as chairman of USL," Mallya said in a statement. In May, the British company had purchased 10% stake for Rs 20920.000 millions by subscribing to preferential shares.
The open offer, however, fell way short of target with investors selling just 58,688 shares, or 0.4%, after USL shares rose sharply over the offer price of Rs 1,440 a piece. On Thursday, USL shares closed at Rs 2,550.
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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
51 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.