MIRA INFORM REPORT
|
Report Date : |
06.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PROCTER AND GAMBLE HOME PRODUCTS LIMITED |
|
|
|
|
Formerly Known As : |
PERSONAL CARE PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
P and G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai
- 400 099, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
19.01.1989 |
|
|
|
|
Com. Reg. No.: |
11-050398 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 281.589
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24240MH1989PLC050398 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP10704B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACP4072C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacturing and selling of branded packaged
fast moving consumer goods in the fabric and home care, baby care, skin care
and hair care businesses. |
|
|
|
|
No. of Employees
: |
Not Available |
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 38400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of ‘Procter and Gamble Overseas India B.V.,
Netherland. It is a well established company having a good track record. It enjoys
well established market position and reputation. It has huge customer base. Trade
relations are reported as decent. Business is active. Payments are reported
to be 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) |
|
India |
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 : |
|
|
Tel. No.: |
91-22-28266000/ 40543618 |
|
Fax No.: |
91-22-66939696/ 66939698 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.182, Sector A, Industrial Area, Mandideep, District Raisen –
462 010, |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Shantanu Maharaj Khosla |
|
Designation : |
Managing Director |
|
Address : |
Gool Rukh, Ground Floor, Plot No.83, |
|
Date of Birth/Age : |
25.01.1960 |
|
Qualification : |
B. Tech (Mech. Engg), MBA |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
00059877 |
|
|
|
|
Name : |
Mr. Amit Kundan Vyas |
|
Designation : |
Director |
|
Address : |
503, 3rd Vaishali Nagar, 3/B, Mahalaxmi, Mumbai – 400 011, |
|
Date of Birth/Age : |
15.11.1967 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
01971383 |
|
|
|
|
Name : |
Mr. Tapan Janardan Buch |
|
Designation : |
Director |
|
Address : |
Odessey 1, Flat No.1001, 10th Floor, |
|
Date of Birth/Age : |
10.10.1972 |
|
Qualification : |
CA, CWA, CFA |
|
Date of Appointment : |
09.09.2010 |
|
DIN No.: |
02910029 |
|
|
|
|
Name : |
Kainaz Gazder Rattan |
|
Designation : |
Director |
|
Address : |
302, Evita, |
|
Date of Birth/Age : |
03.03.1974 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
03636804 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Shareholders |
No. of Shares |
|
Procter and Gamble Overseas India B.V., Netherland |
33967738 |
|
Procter and Gamble Far East Inc., |
1 |
|
Procter and Gamble NDP Inc., |
1 |
|
The Procter and Gamble Company, |
1 |
|
The Procter and Gamble Distribution Company Limited, |
1 |
|
The Procter and Gamble Manufacturing Company, USA |
1 |
|
Procter and Gamble Canada Holding B.V., Netherland |
1 |
|
TOTAL
|
33967744 |
AS ON 14.03.2013
|
Names of Allottees |
No. of Shares |
|
Procter and Gamble Overseas India B.V., Netherland |
2805194 |
|
TOTAL |
2805194 |
AS ON 26.09.2012
|
Names of Allottees |
No. of Shares |
|
Procter and Gamble Overseas India B.V., Netherland |
5808830 |
|
TOTAL |
5808830 |
AS ON 27.09.2012
|
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 : |
Subject is engaged in the manufacturing and selling of branded
packaged fast moving consumer goods in the fabric and home care, baby care,
skin care and hair care businesses. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Annual Capacity
Installed (three shift
basis) |
Actual
Production |
|
Cosmetics. Personal Products. |
Tonnes |
Not
Applicable |
2070 |
10951 |
|
Toilet Preparations, etc |
KIs |
53600 |
53600 |
25119 |
|
Soaps and Detergents |
Tonnes |
Not
Applicable |
264000 |
294637 |
NOTES
1. The installed capacities as at the year ended are as certified by the
management
2. Actual production includes production under manufacturing arrangement
with third parties
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre Tower, 3/27-32 Floor, Elphistone Mill
Compound, Senapati Bapat Marg, Elphistone (West), Mumbai-400013, Maharashtra,
India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AFTER 27.09.2012
Authorised Capital : Rs.500.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.456.467 Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28158914 |
Equity Shares |
Rs.10/- each |
Rs.281.589
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
281.589 |
148.922 |
|
(b) Reserves & Surplus |
|
9320.858 |
3037.049 |
|
(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) |
|
9602.447 |
3185.971 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.163 |
17.637 |
|
(d) long-term
provisions |
|
16.473 |
14.313 |
|
Total Non-current
Liabilities (3) |
|
16.636 |
31.950 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
5821.403 |
6124.205 |
|
(b) Trade
payables |
|
6652.283 |
4757.067 |
|
(c) Other
current liabilities |
|
2345.563 |
1424.956 |
|
(d) Short-term
provisions |
|
65.460 |
78.079 |
|
Total Current
Liabilities (4) |
|
14884.709 |
12384.307 |
|
|
|
|
|
|
TOTAL |
|
24503.792 |
15602.228 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
8808.493 |
5300.384 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
5270.797 |
2882.391 |
|
(iv)
Intangible assets under development |
|
0.000 |
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 |
|
1938.581 |
1524.263 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
16017.871 |
9707.038 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3794.871 |
3191.448 |
|
(c) Trade
receivables |
|
2581.034 |
1928.288 |
|
(d) Cash
and cash equivalents |
|
920.243 |
132.865 |
|
(e)
Short-term loans and advances |
|
1187.123 |
627.606 |
|
(f) Other
current assets |
|
2.650 |
14.983 |
|
Total
Current Assets |
|
8485.921 |
5895.190 |
|
|
|
|
|
|
TOTAL |
|
24503.792 |
15602.228 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
112.922 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3708.827 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3821.749 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
3405.844 |
|
|
TOTAL BORROWING |
|
|
3405.844 |
|
|
DEFERRED TAX LIABILITIES |
|
|
179.419 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7407.012 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4474.445 |
|
|
Capital work-in-progress |
|
|
990.572 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2206.858
|
|
|
Sundry Debtors |
|
|
1406.701
|
|
|
Cash & Bank Balances |
|
|
84.821
|
|
|
Other Current Assets |
|
|
0.062
|
|
|
Loans & Advances |
|
|
1520.894
|
|
Total
Current Assets |
|
|
5219.336 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2903.352
|
|
|
Other Current Liabilities |
|
|
251.283
|
|
|
Provisions |
|
|
122.706
|
|
Total
Current Liabilities |
|
|
3277.341 |
|
|
Net Current Assets |
|
|
1941.995
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7407.012 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
39303.892 |
28527.385 |
21041.694 |
|
|
|
Other Income |
210.299 |
107.257 |
457.174 |
|
|
|
TOTAL (A) |
39514.191 |
28634.642 |
21498.868 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
18045.062 |
|
18455.227 |
|
|
|
Purchases of stock-in-trade |
3479.249 |
3826.149 |
|
|
|
|
Employee benefit expense |
2195.112 |
1500.306 |
|
|
|
|
Other expenses |
18247.869 |
14747.472 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(220.754) |
(576.195) |
|
|
|
|
TOTAL (B) |
41746.538 |
31237.111 |
18455.227 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(2232.347) |
(2602.469) |
3043.641 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
576.565 |
380.287 |
207.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2808.912) |
(2982.756) |
2836.517 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
724.613 |
532.441 |
406.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(3533.525) |
(3515.197) |
2430.191 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(179.418) |
519.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(3533.525) |
(3335.779) |
1911.098 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(191.402) |
3144.377 |
1233.279 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3724.927) |
(191.402) |
3144.377 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Research & Development and other cross recovery |
200.510 |
175.552 |
235.340 |
|
|
|
Exports of goods
calculated on F.O.B. basis (excludes Rupee exports to |
83.672 |
68.431 |
116.072 |
|
|
|
Others (freight,
insurance etc) |
3.795 |
3.342 |
6.511 |
|
|
TOTAL EARNINGS |
287.977 |
247.325 |
357.923 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2414.227 |
1702.339 |
1281.950 |
|
|
|
Packing Materials |
298.324 |
184.668 |
100.320 |
|
|
|
Spare Parts |
98.324 |
208.341 |
80.769 |
|
|
|
Capital Goods |
2259.399 |
809.372 |
192.276 |
|
|
TOTAL IMPORTS |
5070.274 |
2904.720 |
1655.315 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(616.68) |
(272.11) |
169.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(8.94)
|
(11.65) |
8.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.99)
|
(12.32) |
11.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.37)
|
(27.64) |
25.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.37)
|
(1.10) |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.61
|
1.92 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.57
|
0.48 |
1.59 |
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 |
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 |
No |
|
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
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-Term
borrowings |
|
|
|
Loans from related parties |
5821.403 |
6124.205 |
|
The
Company has not defaulted in repayment of Loans and Interest as at the year
end |
|
|
|
TOTAL |
5821.403 |
6124.205 |
CORPORATE
INFORMATION
Subject is a
public company incorporated under the provisions of the Companies Act, 1956.
The company is engaged in the manufacturing and selling of branded packaged
fast moving consumer goods in the fabric and home care, baby care, skin care
and hair care businesses. The company's products are sold through retail
operations including mass merchandisers, grocery stores, membership club
stores, drug stores, department stores, and high frequency stores. The Company
has its manufacturing locations at Mandideep, Madhya Pradesh and Baddi -
Himachal Pradesh, apart from third party manufacturing locations spread across
India.
PERFORMANCE
During the
Financial Year, sales at Rs. 39060.000 Millions were up by 38 % against sales
of Rs. 28330.000 Millions of the previous Financial Year, driven by all round
growth in all the categories we operate in.
Loss Before Tax (LBT) is Rs. 3530.000 Millions as compared to a LBT of
Rs. 3520.000 Millions for the previous Financial Year
BUSINESS REVIEW
During the year
the Company’s products reported a robust growth with all key brands growing
double digits. Growth was driven by category expansions, product intitiatives,
coverage expansion and pricing.
Earnings have been impacted by high inflation, unexpected devaluation,
import costs and intense competition in the consumer goods industry.
Earnings are negative because of:
- Introduction of excise duty on Baby
care and increase in excise rates for Laundry.
- Introduction of royalty payments to the
parent company.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land – Freehold
- Land- Leasehold
- Building
- Plant and Machinery
- Furniture and Fixture
- Computer and Office Equipments
- Moulds and Dies
- Vehicles
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. 66.04 |
|
|
1 |
Rs.103.11 |
|
Euro |
1 |
Rs. 86.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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.