MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
|
|
|
|
Tel. No.: |
+91 124 477 9250 |
IDENTIFICATION DETAILS
|
Name : |
HINDWARE HOME RETAIL PRIVATE LIMITED (w.e.f.28.11.2006) |
|
|
|
|
Formerly Known
As : |
SAMRIDHI SUPPLIERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2 Red Cross Place, Kolkata – 700001, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.11.2005 |
|
|
|
|
Com. Reg. No.: |
21 - 106307 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.649.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB2005PTC106307 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALH03084E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS0434P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Retailer of Home Furnishing. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 854000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of HSIL Limited and is engaged in the
business of retailing in home furniture under the brand name ‘ Evok’ It is an established company having satisfactory track record. There seems accumulated loss recorded by the company. However, capital base of the company seems to be sound. The rating takes into consideration the unconditional and irrevocable
guarantee provided by HSIL Limited. Trade relations are reported to be decent. Business is active.
Payments are reported to be usually correct. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based working capital A+ (SO) |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
March, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits A1+ (SO) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
March, 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-33-22487406)
LOCATIONS
|
Registered Office : |
2 Red Cross Place, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22487406/22487407 |
|
Fax No.: |
91-33-22487045 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Store: |
Plot No. M 54, 1st Floor, Greater Kailash – 2, New Delhi –
110048, India |
|
|
|
|
Corporate Office: |
Unit No. 301-302, III Floor, Park Centra, Sector 30,
N.H-8, Gurgaon - 122001, Haryana, India |
|
Tel. No.: |
91-124-4779200/9201 |
|
Fax No.: |
91-124-4292898/4292899 |
|
E-Mail : |
|
|
|
|
|
Regional Offices: |
Located at:
|
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Sandip Somany |
|
Designation : |
Director |
|
Address : |
B 5/12, Safdarjung Enc, New Delhi – 110029, India |
|
Date of Birth/Age : |
16.12.1963 |
|
Date of Appointment : |
28.09.2006 |
|
Voter Id No.: |
DL/02/009/027291 |
|
DIN No.: |
00053597 |
|
|
|
|
Name : |
Mr. Sumita Somay |
|
Designation : |
Whole-time Director |
|
Address : |
B 5/12, Safdarjung Enc, New Delhi – 110029, India |
|
Date of Birth/Age : |
25.09.1966 |
|
Date of Appointment : |
07.05.2008 |
|
Voter Id No.: |
DL/02/009/027150 |
|
DIN No.: |
00133612 |
|
|
|
|
Name : |
Mr. Girdhari Lal Sultania |
|
Designation : |
Director |
|
Address : |
2 Rowland Road, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
16.10.1945 |
|
Date of Appointment : |
28.09.2006 |
|
Voter Id No.: |
DWK 1170166 |
|
DIN No.: |
00060931 |
|
|
|
|
Name : |
Mr. Niranjan Kumar Goenka |
|
Designation : |
Director |
|
Address : |
38A Kashi Mitra Ghat, Street, Kolkata – 700003, West Bengal, India |
|
Date of Birth/Age : |
05.02.1965 |
|
Date of Appointment : |
28.09.2006 |
|
Voter Id No.: |
FLG 2067460 |
|
DIN No.: |
00060864 |
|
|
|
|
Name : |
Mr. Ram Babu Kabra |
|
Designation : |
Director |
|
Address : |
HSIL Limited, Bahadurgarh, Rohtak – 124507, Haryana, India |
|
Date of Birth/Age : |
09.07.1958 |
|
Date of Appointment : |
10.05.2010 |
|
Voter Id No.: |
HR/04/137/288538 |
|
DIN No.: |
00021886 |
KEY EXECUTIVES
|
Name : |
Ms. Deepika Chowdhary |
|
Designation : |
Secretary |
|
Address : |
3019, Mohalla Dassan Charkhewalan, Delhi – 110006, India |
|
Date of Birth/Age : |
19.11.1988 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ATAPC4043Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders (Equity Shareholders) |
No. of Shares |
|
Sultania Lal Girdhari |
1 |
|
HSIL Limited, India |
21999997 |
|
Niranjan Kumar Goenka |
1 |
|
Radhey Ahyam Sharma |
1 |
|
|
|
|
Total |
22000000 |
|
Names of Shareholders (Preference Shareholders) |
No. of Shares |
|
HSIL Limited, India |
4290000 |
|
|
|
|
Total |
4290000 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retailer of Home Furnishing. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
EVOK |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountants |
|
Address : |
L 41 Connuaght Circus New Delhi – 110001, India |
|
PAN.: |
AAAFW4298E |
|
|
|
|
Holding Company : |
HSIL Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
7500000 |
Preference Shares |
Rs.100/- each |
Rs.750.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs.220.000 Millions |
|
4290000 |
Preference Shares |
Rs.100/- each |
Rs.429.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.649.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
649.000 |
420.000 |
220.000 |
|
(b) Reserves & Surplus |
(435.435) |
(248.480) |
(78.184) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
213.565 |
171.520 |
141.816 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
82.928 |
78.997 |
41.666 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.765 |
3.486 |
3.215 |
|
(d) long-term
provisions |
4.084 |
3.774 |
2.023 |
|
Total Non-current
Liabilities (3) |
87.777 |
86.257 |
46.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
165.160 |
134.777 |
59.585 |
|
(b) Trade
payables |
90.702 |
68.432 |
43.919 |
|
(c) Other
current liabilities |
168.706 |
136.994 |
69.183 |
|
(d) Short-term
provisions |
0.433 |
0.108 |
0.093 |
|
Total Current
Liabilities (4) |
425.001 |
340.311 |
172.780 |
|
|
|
|
|
|
TOTAL |
726.343 |
598.088 |
361.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
275.919 |
270.759 |
144.787 |
|
(ii)
Intangible Assets |
4.484 |
6.764 |
6.890 |
|
(iii)
Capital work-in-progress |
5.835 |
1.121 |
0.870 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
42.274 |
36.348 |
20.585 |
|
(e) Other
Non-current assets |
2.920 |
6.926 |
6.351 |
|
Total Non-Current
Assets |
331.432 |
321.918 |
179.483 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
330.980 |
219.430 |
133.589 |
|
(c) Trade
receivables |
17.251 |
9.317 |
25.740 |
|
(d) Cash
and cash equivalents |
23.158 |
13.107 |
6.795 |
|
(e)
Short-term loans and advances |
23.522 |
34.316 |
15.893 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
394.911 |
276.170 |
182.017 |
|
|
|
|
|
|
TOTAL |
726.343 |
598.088 |
361.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(186.955) |
(170.296) |
(87.035) |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(7.11) |
(6.48) |
(3.31) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16
|
1.25 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93
|
0.81 |
1.05 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
220.000 |
420.000 |
649.000 |
|
Reserves & Surplus |
(78.184) |
(248.480) |
(435.435) |
|
Net
worth |
141.816 |
171.520 |
213.565 |
|
|
|
|
|
|
long-term borrowings |
41.666 |
78.997 |
82.928 |
|
Short term borrowings |
59.585 |
134.777 |
165.160 |
|
Total
borrowings |
101.251 |
213.774 |
248.088 |
|
Debt/Equity
ratio |
0.714 |
1.246 |
1.162 |
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 |
No |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10471875 |
10/12/2013 |
100,000,000.00 |
Standard Chartered Bank |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW
DELHI, Delhi - 110001, INDIA |
B94124542 |
|
2 |
10333872 |
10/01/2012 |
150,000,000.00 |
CENTRAL BANK OF INDIA |
PARLIAMENT STREET BRANCH, JEEVAN TARA BUILDING, PARLIAMENT STREET, NEW
DELHI, Delhi - 110001, INDIA |
B31401003 |
|
3 |
10187534 |
20/09/2013 * |
355,000,000.00 |
Central Bank Of India |
Parliament Street Branch,Jeevan Tara Building, Parliament Street
ARLIAMENT STREET, NEW DELHI, New Delhi, Delhi - 110001, INDIA |
B85562288 |
|
4 |
10186890 |
03/11/2009 |
88,000,000.00 |
CENTRAL BANK OF INDIA |
JEEVAN TARA BUILDING, PARLIAMENT STREET, NEW DELHI, Delhi - 110001,
INDIA |
A73705170 |
* Date of charge modification
OPERATIONS
The Company is a wholly
owned subsidiary of HSIL Limited established to diversify the group into the
total Home Solutions Enterprise with its foray into the high potential Home
Interiors sector in India under the brand name EVOK.
The core vision of
the Company is to be the first choice partner of customers aspiring for value
for style Home Interior solutions and operates in the Retail as well as
Institutional segments.
After setting up
17 stores in just over two years, the company entered into the consolidation
phase. During financial year 2012-13, the company redefined its merchandising
and marketing strategy in line with changing consumer preferences. Evok has
uniquely positioned itself to offer solidwood furniture which is acceptable to
modern young customers as it blends the strength and durability of solid wood
with trendy and modern designs.
Two new Mega
Stores were successfully setup by the Company at prime customer catchment
market locations in Delhi. The Company continued to be among the largest
organized sector retail chain of Home Interior Stores in North-India. All the
new Mega Stores conformed to optimized format workings of 8000 to 12000 sq. ft.
size and revised retail merchandise category mix, based on experience curve of
our operations. These large format flagship stores offer end to end single
window solutions for Home Interior needs ranging from Interior design services,
Living concepts, wide range products, turnkey installation services and post
care services. The comprehensive product category range includes Home
Furniture, Soft Furnishings, Home Decor, Modular Kitchens, Bath, Lighting,
Flooring, Home Organization and accessories with a population of more than
20,000 world class products sourced and aggregated globally.
Besides the Mega
Store retail format, the Company also successfully operated two super-specialty
Kitchen-Bath-Interiors retail formats this year. The Company also pursued and
commenced the SIS (Shop-in-Shop) retail format opportunities, and entered into
a strategic relationship with an established large retailer currently operates
6 shop in shop under this format. In addition to this, company is also planning
to launch franchisee business for modular kitchens, which would cover major
tier-1 and tier 2 cities where the infrastructure development has been on a
rise.
The Projects and
Institutional Division established to service the architects, builders,
corporate and institutional community, had sluggish results due to multiple
challenges on the markets front. The Company believes this Division to be a
strong business growth engine, devoid of retail real estate needs, and is in
the process of investing right resourcing for this vertical.
The Company
further enhanced its capability in developing an extensive global supplier base
for its operations and improved ERP systems, processes and infrastructure. The
new expanded National Distribution Centre was setup at Bhiwandi, Mumbai and a
lot of initiatives are being taken to improvise the pan-India supply chain
efficiencies. Investments were effectively utilized for building and promoting
the exciting brand of the company EVOK and propagating it to be the icon for
Home Fashion retail in India.
While in the year
Topline grew well and most stores become operationally profitable, the Company
bottom line was under adverse pressure due to the impact of Rupee exchange rate
affecting gross margins, rising inflationary Costs and Service tax liabilities
on rented properties. Considering sluggish market environment and adversities
faced by the Retail sector overall, the Company has embarked on the critical
project of Cost reduction and optimization in order to bring about better
operational efficiencies and balance the same with the Revenue structures.
The Company is
completely focused on significant revenue escalation through its existing and
upcoming/proposed retail stores and the projects division next year, as well as
control operating costs with effective budgeting and control systems. The
Company expects to deliver significant long term value to the Group operations.
FIXED ASSETS
- Vehicle
- Air
Conditioner
- Office
Equipments
- Computers
- Furniture and
Fittings
- Furniture and
Fitting, Shop
- Leasehold
Improvements
- Plant
Machinery
- Tools
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 records 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] 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.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
41 |
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.