MIRA INFORM REPORT
|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
BROEKMAN LOGISTICS INDIA
PRIVATE LIMITED (w.e.f. 01.01.2008) |
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|
Formerly Known
As : |
BROEKMAN LOGISTICS (I)
PRIVATE LIMITED (W.E.F. 29.10.2007) COURCAN CARGO (INDIA)
PRIVATE LIMITED |
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Registered
Office : |
New No.49 (Old No.26),
Jamal Chambers, 3rd Floor, Mount Road, Saidapet, Chennai – 600
015, Tamilnadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.01.1988 |
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Com. Reg. No.: |
18-084914
(New) 11-045811 (Old) |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 millions |
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CIN No.: [Company Identification
No.] |
U63010TN1988PTC084914
(New) U63010MH1988PTC045811
(Old) |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10026C |
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PAN No.: [Permanent Account No.] |
AAACC8442P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of providing freight forwarding and
logistics services. |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 236000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Jaya |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-44-22301295 |
|
Date : |
25.04.2014 |
LOCATIONS
|
Registered Office/ Corporate Office/ Branch Office 1 : |
New No.49 (Old No.26),
Mount Road, Saidapet, Chennai – 600 015, Tamilnadu, India |
|
Tel. No.: |
91-44-22201591-95/
42926363/ 22301295 |
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Fax No.: |
91-44-22301295/ 42926300/
22201595 |
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E-Mail : |
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Website : |
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Headquarters : |
Broakman Group Waalhaven Z.z. 21, 3089 JH Rotterdam, The Netherlands |
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Tel. No.: |
+31 (0)10 4873 911 |
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Fax No.: |
+31 (0)10 4282 215 |
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E-Mail : |
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Website: |
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Branch Office : |
Located at: · Mumbai · New Delhi · Ahmedabad · Bangalore · Pune · Goa · Coimbatore · Cochin · Vadodara · Tuticorin ·
Kolkata |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Albert Hoek |
|
Designation : |
Director |
|
Address : |
Resenburgh 5, Maasdam, 3299 aw, The Netherlands |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
03065473 |
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|
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|
Name : |
Mr. Raymond Riemen |
|
Designation : |
Director |
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Address : |
Straatweg 135, Rotterdam, 3054AC, The Netherlands |
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Date of Appointment : |
15.05.2006 |
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DIN No.: |
00786382 |
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|
Name : |
Mr. Jan Diederik Guenther |
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Designation : |
Director |
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Address : |
John F. Kennedylaan 10, 2661 JH, Bergschenhoek, The Netherlands |
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Date of Appointment : |
15.03.2013 |
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DIN No.: |
06518820 |
KEY EXECUTIVES
|
Name : |
Ms. Jaya |
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Designation : |
Accounts Department |
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|
|
Name : |
Priyanka Lahoti |
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Designation : |
Practicing Company Secretary |
|
Address : |
A-503, Vertex Vikas Building, Above Mitra Nursing Home, Sir M.V. Road,
Andheri (East), Mumbai – 400 069, Maharashtra, India |
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Tel. No.: |
91-22-26826081-84 |
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Fax No.: |
91-22-26826070 |
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E-Mail : |
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Website : |
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Name : |
Mr. Rajiv Nathan |
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Designation : |
Vice President - Indian Operations |
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E-Mail : |
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Name : |
Mr. Sandeep Tyagi |
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Designation : |
All India Marketing Manager |
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E-Mail : |
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Name : |
Mr. S Sridhar |
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Designation : |
General Manager - Finance |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Broekman Logistics B. V., The Netherlands |
|
2 |
|
Broekman Logistics Division B. V., The Netherlands |
|
499998 |
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Total
|
|
5000000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing freight forwarding and
logistics services. |
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Terms : |
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Selling : |
Cash and Advance |
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Purchasing : |
Cash and Advance |
GENERAL INFORMATION
|
No. of Employees : |
120 (Approximately) |
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Bankers : |
· Citibank, Fort Branch · The South Indian Bank Limited, Andheri Branch, Mumbai – 400 058, Maharashtra, India |
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Facilities : |
Notes: Long Term Borrowings 1. Hire Purchase Loans
amounts to Rs.3.578 millions (PY Rs.4.377 millions) are secured by
hypothecation of respective vehicles financed. The loan carries interest
ranging from 8% to 12% p.a. The loan is repayable in 60 equal monthly
instalments starting from the respective dates of finance. 2. Loan from holding
company amounting to Rs.5.215 millions (PY 5.120 millions) carries interest
4.68% to 5.26% p.a. ECB loan is repayable in 20 semi annual instalment of
12,500 Euros. 3. The Holding Company
has applied to Reserve Bank of India (RBI) for permission to prepay the ECB
loan from the Company to an extent of 32,000 Euros, and conversion of the
balance 43,000 Euros as Share Application Money in the Company for further
issuance of Equity Share Capital. Post Balance sheet date
RBI has sent a letter dated 23rd July, 2013 to Standard Chartered
Bank (authorised dealer) to further examine the said request. The reply from Standard
Chartered Bank is still awaited, hence the said amount has been disclosed
under long-term liability Short Term Borrowings Cash Credit loan amounting to Rs.12.760 millions (PY 10.041 millions)
is secured against-Guarantee given by the Holding Company. The
loan carries interest @ 13.00% p.a. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.G.C.O. and Company Chartered Accountants |
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Address : |
4A, Kaledonia-HDIL, 2nd Floor, Sahar Road, Near Andheri Station,
Andheri (East), Mumbai – 400 069, Maharashtra, India |
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Tel. No.: |
91-22-66256363 |
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Fax No.: |
91-22-66256364 |
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E-Mail : |
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Website : |
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PAN No.: |
AAAFS7106D |
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Holding Company : |
Broekman Logistics Division B. V., The Netherlands |
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Ultimate Holding Company: |
Broekman Group B. V., The Netherlands
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Fellow Subsidiaries : |
·
Broekman Logistics Amsterdam B. V., The
Netherlands ·
Broekman Logistics N.V., Belgium ·
Broekman Logistics Brussels B.V.B.A., Belgium ·
Broekman Logistics KFT, Hungary ·
Broekman Logistics (S) Pte. Limited, Singapore ·
Broekman Logistics S.R.O. (Chz Republic) ·
Broekman Logistics Sp. Z.O.O. (Poland) ·
Broekman Logistics Europoort BV |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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|
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
53.941 |
39.973 |
27.852 |
|
(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) |
58.941 |
44.973 |
32.852 |
|
|
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
7.034 |
8.698 |
4.815 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
3.270 |
3.272 |
2.914 |
|
Total
Non-current Liabilities (3) |
10.304 |
11.970 |
7.729 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
12.760 |
10.041 |
14.267 |
|
(b)
Trade payables |
74.911 |
70.174 |
62.526 |
|
(c)
Other current liabilities |
13.167 |
7.933 |
7.883
|
|
(d)
Short-term provisions |
3.295 |
2.650 |
2.477
|
|
Total
Current Liabilities (4) |
104.133 |
90.798 |
87.153 |
|
|
|
|
|
|
TOTAL |
173.378 |
147.741 |
127.734 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
13.588 |
16.284 |
12.494 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
2.168 |
1.333 |
1.671 |
|
(d) Long-term Loan and
Advances |
15.280 |
17.381 |
28.419 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
31.036 |
34.998 |
42.584 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000
|
|
(c)
Trade receivables |
137.010 |
103.282 |
77.402
|
|
(d)
Cash and cash equivalents |
2.476 |
4.278 |
0.289
|
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
2.856 |
5.183 |
7.459 |
|
Total
Current Assets |
142.342 |
112.743 |
85.150 |
|
|
|
|
|
|
TOTAL |
173.378 |
147.741 |
127.734 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
663.830 |
648.807 |
537.176 |
|
|
|
Other Income |
1.987 |
4.162 |
6.589 |
|
|
|
TOTAL (A) |
665.817 |
652.969 |
543.765 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
550.141 |
545.420 |
455.113 |
|
|
|
Employee Benefits Expenses |
53.355 |
46.090 |
42.277 |
|
|
|
Other Expenses |
38.759 |
38.912 |
31.366 |
|
|
|
Prior Period Items |
(2.632) |
0.000 |
0.069 |
|
|
|
TOTAL (B) |
639.623 |
630.422 |
528.825 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.194 |
22.547 |
14.940 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.061 |
1.801 |
1.919 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.133 |
20.746 |
13.021 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.501 |
3.251 |
2.867 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
20.632 |
17.495 |
10.154 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.664 |
5.374 |
(4.900) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
13.968 |
12.121 |
15.054 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
39.973 |
27.852 |
12.798 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
53.941 |
39.973 |
27.852 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Freight and Other Charges |
72.545 |
53.007 |
21.305 |
|
|
TOTAL EARNINGS |
72.545 |
53.007 |
21.305 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
27.94 |
24.24 |
30.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.10 |
1.86
|
2.77
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.11 |
2.70
|
1.89
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.05 |
11.95
|
8.05
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.39
|
0.31
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34 |
0.42
|
0.58
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.24
|
0.98
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
27.852 |
39.973 |
53.941 |
|
Net worth |
32.852 |
44.973 |
58.941 |
|
|
|
|
|
|
long-term borrowings |
4.815 |
8.698 |
7.034 |
|
Short term borrowings |
14.267 |
10.041 |
12.760 |
|
Total borrowings |
19.082 |
18.739 |
19.794 |
|
Debt/Equity ratio |
0.581 |
0.417 |
0.336 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
537.176 |
648.807 |
663.830 |
|
|
|
20.781 |
2.315 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
537.176 |
648.807 |
663.830 |
|
Profit |
15.054 |
12.121 |
13.968 |
|
|
2.80% |
1.87% |
2.10% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long term debt |
1.759 |
0.799 |
0.194 |
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90220501 |
15/09/2004 * |
7,500,000.00 |
INDIAN OVERSEAS BANK |
CHAKALA BRANCH, ANDHERI
EAST, MUMBAI, MAHARASHTRA |
- |
|
2 |
90223338 |
21/03/2002 |
425,736.00 |
FIAT SUNDARAM AUTO
FINANCE LIMITED |
NO. 21; PATULLOS ROAD,
CHENNAI, TAMILNADU - 600002, INDIA |
- |
|
3 |
90223222 |
08/03/2004 * |
1,500,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
ASHIRWAD; 1; DADABHAI,
ANDHERI WEST, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Foreign currency loan
from Holding Company |
5.215 |
5.120 |
|
Less: Current maturities of
Long Term Debt (disclosed under other current liabilities) |
(0.869) |
0.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
Cash Credit from Banks |
12.760 |
10.041 |
|
Total
|
17.106 |
15.161 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Guarantees |
2.340 |
2.040 |
|
Total |
2.340 |
2.040 |
FIXED ASSETS:
· Leasehold Improvements
· Office Premises
· Office Equipments
· Computers
· Furniture and Fixtures
· Motor 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.61.12 |
|
UK Pound |
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
49 |
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.