MIRA INFORM REPORT
|
Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
VODAFONE INDIA LIMITED (w.e.f. 11.10.2011) |
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Formerly Known
As : |
VODAFONE ESSAR LIMITED (w.e.f. 12.07.2007) HUTCHISON ESSAR LIMITED |
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Registered
Office : |
Peninsula
Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.02.1992 |
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Com. Reg. No.: |
11-119108 |
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Capital
Investment / Paid-up Capital : |
Rs. 4141.900
Millions |
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CIN No.: [Company Identification
No.] |
U32200MH1992PLC119108 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07197B |
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PAN No.: [Permanent Account No.] |
AAACH5332B |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing cellular mobile telephony services in
" |
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No. of Employees
: |
2000 (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 |
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Maximum Credit Limit : |
USD 321758000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having a fine
track record. The company has incurred loss from its operations during 2012. However
networth of the company is good. Trade relations are decent. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered good 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA (Term Loan) |
|
Rating Explanation |
High degree of safety it carry very low credit risk. |
|
Date |
28th September, 2012 |
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Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Loan) |
|
Rating Explanation |
Very strong degree of safety it carry lowest credit risk. |
|
Date |
28th September, 2012 |
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/ Corporate Office : |
Peninsula
Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013, |
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Tel. No.: |
91-22-66645000/
66661222/ 66661200 |
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Fax No.: |
91-22-24963645 |
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E-Mail : |
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Website : |
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C-48, Okhla Industrial Area, Phase II, |
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Mumbai Office : |
N.M. Joshi Marg
Police Station, Opposite BDD Chawl I and 2, Lower Parel, Mumbai – 400 013, |
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E-Mail : |
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Karnataka Office: |
Maruti Infotech Centre, Ground Floor, B,11/1, 12/1, Koramangala,
Intermediate Ring Road, Amar Jyoti Layout, Bangalore – 560 071, Karnataka,
India |
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Tel. No.: |
91-80-41193000 |
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6th Floor SAKAR II, |
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Rajasthan Office : |
Gaurav tower, 5th Floor, Malviya Nagar, Jaipur, |
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Kolkata Office: |
Constantia Office Complex, 4
Floor, |
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Uttar Pradesh (East) Office: |
5, |
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Tel No.: |
91-522-6544301 |
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C – 131, Phase – VIII Sas Nagar, Eltop, Industrial Area, Mohali, |
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Tel No.: |
91-172-5090300 |
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Andhra Pradesh Office: |
6 Floor Varun Tower II, Begumput, |
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Uttar Pradesh
(West) Office: |
135/1 and 137/1, Mangal |
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Chennai Office: |
9th
Floor, |
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Haryana Office: |
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Tel No.: |
91-184-2207410 |
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Kerala Office: |
Ashish |
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Tel No.: |
91-484-2382281/ 82/ 83 |
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Maharashtra and |
The Metropolitan F.P. No.27
Survey |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Analjit Bhaimohan Singh |
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Designation : |
Director |
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Address : |
15, |
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Date of Birth/Age : |
11.01.1954 |
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Date of Appointment : |
16.02.2012 |
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DIN No.: |
00029641 |
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Name : |
Mr. Chittranjan
Dua |
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Designation : |
Director |
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Address : |
88, Sunder Nagar,
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Date of Birth/Age : |
03.11.1951 |
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Date of Appointment : |
15.06.2007 |
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DIN No.: |
00036080 |
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Name : |
Ashwini Windlass |
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Designation : |
Director |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
00042686 |
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Name : |
Mr. Pieters Marten |
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Designation : |
Managing Director |
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Address : |
Lyndewood House,Flat No 4, 1st Floor, 9
Bomanji Petit Road, Mumbai - 400 026, |
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Date of Birth/Age : |
29.04.1953 |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
02598456 |
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Name : |
Mr. Rajesh Laddha |
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Designation : |
Dorector |
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Address : |
3201/3202 of
Tower, 4th Floor, Plant Godrej Simplex, Starata, 30 Keshav Roa
Kgadey Marg, Mumbai – 400011, |
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Date of Birth/Age : |
07.05.1967 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
02228042 |
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Name : |
Mr. Nicholas
Johnathan Read |
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Designation : |
Director |
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Address : |
8, Cresta, Queens
Hills Rise, |
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Date of Birth/Age : |
29.09.1964 |
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Date of Appointment : |
28.11.2008 |
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DIN No.: |
02392270 |
KEY EXECUTIVES
|
Name : |
Mr. Pushkaraj Vishnu Joshi |
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Designation : |
Secretary |
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Address : |
5-23, Third Floor, Goregaonkar Lane, Near Central
Cinema, Girgaon, Mumbai – 400004, Maharashtra, India |
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Date of Birth/Age : |
14.05.1974 |
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Date of Appointment : |
10.02.2010 |
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Name : |
Mrs. Prasanna Kumar Das |
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Designation : |
Vice President - Distribution
Projects |
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Name : |
Mr. Sunil Sood |
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Designation : |
Chief Operating Officer |
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Name : |
Mr. Suresh Bagrodia |
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Designation : |
Senior Vice President - Finance and Accounts |
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Name : |
Mr. Balesh Sharma |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Himanshu Jain |
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Designation : |
General Manager - Information Technology |
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Name : |
Mr. Sambasivan G. |
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Designation : |
Senior Vice President – Corporate Finance |
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Name : |
Mr. Jagadish B |
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Designation : |
General Manager - Resourcing |
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Name : |
Mr. Sanjoy Mukerji |
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Designation : |
Chief Commercial Officer |
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Name : |
Mr. Sundeep Kathuria |
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Designation : |
Senior Vice President -
Regulatory |
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Name : |
Mr. Ajay Jain |
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Designation : |
Vice President – Access Network |
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Name : |
Mr. Shammy Joseph |
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Designation : |
AVP Human Resources |
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Name : |
Mr. Pereira Mundkur |
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Designation : |
General Manager - Customer Service |
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Name : |
Mr. Rajan Joshi |
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Designation : |
General Manager - Projects |
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Name : |
Mr. Joy Rajan Cheruvathoor |
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Designation : |
Vice President - |
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Name : |
Mr. Prashant Pavaskar |
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Designation : |
Vice President – Network Operations |
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Name : |
Mr. Saifuddin Late Abbas Kapasi |
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Designation : |
Head – Collections |
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Name : |
Mr. Nihar Ranjan Chand |
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Designation : |
General Manager - VAS Technology |
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Name : |
Mr. Naveen Chopra |
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Designation : |
Director - |
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Name : |
Mr. Rohinton Wadia |
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Designation : |
General Manager - Marketing Operations |
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Name : |
Mr. Shiva Prasad Das |
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Designation : |
General Manager - Credit and Collection |
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Name : |
Mrs. Laxmi Bhan Rajan |
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Designation : |
Vice President – Service Delivery |
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Name : |
Mr. Mihir Oza |
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Designation : |
Vice President – Revenue Support |
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Name : |
Mr. Shailesh Abhyankar |
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Designation : |
General Manager - Transmission |
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Name : |
Mr. Deepak Soman |
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Designation : |
Vice President – Information Technology |
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Name : |
Mr. Burgess Sam Cooper |
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Designation : |
Chief Technology Security Officer |
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Name : |
Mr. Madhav Malhotra |
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Designation : |
AVP – SPMG |
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Name : |
Mr. Siddharth Digambar Parnerkar |
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Designation : |
General Manager - Business Operations Support |
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Name : |
Ms. Rupal Vaidya |
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Designation : |
General Manager – Content |
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Name : |
Mr. Sanjay Sharma |
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Designation : |
AVP - |
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Name : |
Mr. Ranganathan Ramani |
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Designation : |
Vice President – Information Technology Infrastructure |
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Name : |
Mr. Deepak Pande |
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Designation : |
Chief Operating Officer – SME ( |
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Name : |
Mr. Vickey Rodriques |
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Designation : |
Head - Technology Mobile Commerce |
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Name : |
Mr. Sridhar Ranganathan |
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Designation : |
Vice President – Revenue Assurance |
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Name : |
Mr. Rohit Agarwal |
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Designation : |
Vice President – Taxation |
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Name : |
Mr. Santosh Abbimane |
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Designation : |
General Manager – Financial Planning and Analysis |
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Name : |
Mr. Vikas Grover |
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Designation : |
Senior Vice President –Technology Planning |
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Name : |
Mrs. Kavita Nair |
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Designation : |
Vice President – |
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|
Name : |
Mr. Lakshmikant Natarajan |
|
Designation : |
Senior. Vice President -
Product Factory and Convergence |
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|
Name : |
Mr. Nirupmay Kumar |
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Designation : |
AVP - Information Technology |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Central depository services ( |
395251799 |
|
Vodafone Telecommunications( |
18835021 |
|
Telecom Investments India Private Limited, |
30 |
|
|
|
|
Total |
414086850 |
List of shareholders holding shares in
dematerialized form as on the date of AGM
|
Names of Shareholders |
No. of Shares |
|
Al-Amin
Investments Limited |
19238530 |
|
Asian
Telecommunication Investments ( |
23218582 |
|
CCII
( |
10568355 |
|
Euro
Pacific Securities Limited |
94459317 |
|
Vodafone
Telecommunications ( |
19642064 |
|
Mobilvest |
39684917 |
|
Prime
Metals Limited |
6346082 |
|
Trans
Crystal |
34600965 |
|
ETHL
Communications Holdings Private Limited |
22712664 |
|
Omega
Telecom Holdings Private Limited (formerly, IndusInd Telecom Network Private
Limited) |
21163258 |
|
Telecom
Investments India Private Limited |
53658489 |
|
Jankay
Finholding ( |
2122557 |
|
Usha
Martin Telematics Limited |
25123355 |
|
Piramal
Healthcare Limited |
22712664 |
|
Total |
395251799 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
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 |
64.38 |
|
Bodies corporate |
35.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing cellular mobile telephony services in
" |
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Products / Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
2000 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
- |
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|
Financial Institution: |
IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No.
C-22, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, |
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|
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Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
12, |
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Tel No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679025 |
|
PAN No.: |
AACFD4815A |
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Holding Company
: |
Vodafone Group Plc (Under section 4(6) of the Companies Act, 1956) |
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Intermediate
Holding Company : |
Vodafone International Holdings B.V. (Under section 4(6) of the
Companies Act, 1956) |
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Subsidiaries : |
|
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|
Fellow
Subsidiaries where transactions exist: |
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|
|
Joint Venture : |
Indus Towers
Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs. 5000.000
millions |
|
|
|
|
|
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
414086850 |
Equity Shares |
Rs.10/- each |
Rs. 4140.900
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4141.900 |
4140.900 |
4140.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
76298.700 |
80739.200 |
92458.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80439.600 |
84880.100 |
96598.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
59515.400 |
55087.200 |
33444.400 |
|
|
2] Unsecured Loans |
64556.700 |
53057.100 |
11442.900 |
|
|
TOTAL BORROWING |
124072.100 |
108144.300 |
44887.300 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
252.300 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
204511.700 |
193276.700 |
141486.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45790.200 |
44347.300 |
8660.800 |
|
|
Capital work-in-progress |
2211.100 |
2360.200 |
1276.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
71225.100 |
69725.600 |
69725.600 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
347.800 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000
|
|
|
Sundry Debtors |
1849.500
|
1692.200 |
2504.900
|
|
|
Cash & Bank Balances |
2301.700
|
2353.300 |
1986.200
|
|
|
Other Current Assets |
1905.800
|
6070.000 |
2.600
|
|
|
Loans & Advances |
96242.000
|
80618.700 |
67774.600
|
|
Total
Current Assets |
102299.000
|
90734.200 |
72268.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7512.800
|
7224.200 |
8067.400
|
|
|
Other Current Liabilities |
6392.100
|
4852.000 |
2014.000
|
|
|
Provisions |
3108.800
|
1814.400 |
711.700
|
|
Total
Current Liabilities |
17013.700
|
13890.600 |
10793.100
|
|
|
Net Current Assets |
85285.300
|
76843.600 |
61475.200
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
204511.700 |
193276.700 |
141486.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29875.000 |
26834.600 |
24876.500 |
|
|
|
Other Income |
10822.100 |
8296.600 |
8319.500 |
|
|
|
TOTAL |
40697.100 |
35131.200 |
33196.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
18427.900 |
15697.300 |
|
|
|
|
Employee Benefit Expenses |
4281.500 |
3794.000 |
|
|
|
|
Other Expenses |
6496.600 |
6406.100 |
|
|
|
|
Exceptional items |
0.000 |
(12447.100) |
|
|
|
|
TOTAL |
29206.000 |
38344.500 |
22117.200 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
11491.100 |
(3213.300) |
11078.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11885.500 |
6060.000 |
4944.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(394.400) |
(9273.300) |
6133.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4298.400 |
1824.100 |
1823.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(4692.800) |
(11097.400) |
4310.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(252.300) |
476.200 |
1807.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(4440.500) |
(11573.600) |
2503.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5917.400 |
17491.000 |
14987.800 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1476.900 |
5917.400 |
17491.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/Loss
Per Share (Rs.) |
(10.72) |
(27.95) |
6.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(10.91)
|
(32.94) |
7.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(15.71)
|
(41.35) |
17.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.17)
|
(8.22) |
5.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
(0.13) |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.54
|
1.27 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.09
|
6.53 |
6.70 |
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) |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particular |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
Loan and advances from related parties |
10575.300 |
9300.000 |
|
Loan Repayable on demand |
14481.400 |
26007.100 |
|
Working Capital Loans from Others (Commercial paper) |
39500.000 |
17750.000 |
|
Total |
64556.700 |
53057.100 |
OPERATIONS:
The
year ended March 2012 has been a good year for the Company. The favorable
revenue performance was primarily due to both higher Outbound and Inbound Voice
and greater Messaging and Data usage. During the year, the Company has
increased its revenue by 12.6% and subscriber base by 0.5%.
The
company’s customer base grew to a landmark 5.8 million subscribers. The Company
continues to be the leading operator, having a Revenue market share of 28.0%
(Includes fixed line revenue of all operators) as at 31 March 2012 in a very
competitive multiplayer market (a 0.6% increase over the same period last
year).
During
the year 2011-12, the Company has further expanded its network to increase its
coverage. The networks continue to perform better against acceptable thresholds
for the major performance parameters. The Company has added 165 more cell sites
to enhance its network coverage, closing with a total of 3,535 cell sites as at
31 March 2012.
OUTLOOK FOR 2012-13:
Intense
competition is expected to continue in FY 2012-13. However, uncertainties on
the regulatory front and high reserve price fixed by the Government for the 2G
auction may result in consolidation in the market. With margins coming pressure
across the industry, there may be opportunity to increase prices although the
market will be highly competitive. Vodafone is one among the top multinational
consumer brands in
.
The
revenue from data grew by 104% during the year. Data revenue constituted 11.3 %
of total revenue during the year. Mumbai circle is the highest Data Revenue
Contributor today in the Group. The same is expected to grow significantly in
the coming year after the recent price rationalization and with Company’s
enhanced focus on 3G and value added services. Low price point smart phones and
price reduction is expected to result in significant increase in data usage and
revenue. Further, plans to attract new high value quality customers and retain
existing
Customers
are in place. The focus on cost reduction and working capital improvement will
continue with more rigour in the coming year. Given the strong presence in
Mumbai circle and brand strength of Vodafone
FIXED ASSETS
- Computer Software
- Plant and Machinery
- Computer Hardware
- Office Equipments
- Furniture and Fixtures
- Vehicles
- Computer Software
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. 55.99 |
|
|
1 |
Rs. 84.19 |
|
Euro |
1 |
Rs. 71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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.