MIRA INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
COCA COLA INDIA PRIVATE LIMITED |
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Formerly Known
As : |
BRITCO FOODS COMPANY LIMITED |
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Registered
Office : |
Plot No. 1109 - 1110, Village Pirangut, Taluka Mulshi, Pune – 412108, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.02.1992 |
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Com. Reg. No.: |
11-065522 |
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Capital
Investment / Paid-up Capital : |
Rs.1996.972 Millions |
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CIN No.: [Company Identification
No.] |
U15549PN1992FTC065522 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10744G |
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PAN No.: [Permanent Account No.] |
AAACB8573C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Distributor of Non-alcoholic Beverage Bases and Beverage Products such as Tea and Coffee. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 31728000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “COCA COLA SOUTH ASIA (INDIA) HOLDINGS LIMITED”.
It is a well-established and reputed company having fine track record. The rating reflects company’s strong financial risk profile marked by
strong liquidity position and decent profitability levels of the company. Trade relation are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
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 |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-80-30136000)
LOCATIONS
|
Registered Office : |
Plot No. 1109 - 1110, Village Pirangut, Taluka Mulshi, Pune – 412108,
Maharashtra, India |
|
Tel. No.: |
91-20-2902200 / 2922081 |
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Fax No.: |
91-20-2902274 / 2922084 |
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E-Mail : |
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Website : |
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Corporate Office : |
Enkay Towers, Udyog Vihar Phase – 5, Gurgaon – 122016, Haryana, India |
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Tel. No.: |
91-124-2348041 |
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Fax No.: |
91-124-2348136 |
DIRECTORS
As on 20.12.2013
|
Name : |
Mr. Asim Bhupatrai Parekh |
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Designation : |
Whole-time director |
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Address : |
520A, Hamilton Court, Phase-4, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
27.08.1964 |
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Date of Appointment : |
01.07.2012 |
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PAN No.: |
AAAPP7323H |
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DIN No.: |
00056125 |
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Other Directorship :
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Name : |
Mr. Venkatesh Kini |
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Designation : |
Director |
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Address : |
Flat No. B-803, Palm Springs, Golf Course Road, Sector – 54, Gurgaon –
122011, Haryana, India |
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Date of Birth/Age : |
20.11.1966 |
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Date of Appointment : |
20.12.2013 |
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DIN No.: |
06710999 |
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Other Directorship :
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Name : |
Mr. Devdas Baliga |
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Designation : |
Whole-time director |
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Address : |
A-164, First Floor, Inderpuri, New Delhi – 110012, India |
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Date of Birth/Age : |
01.03.1971 |
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Date of Appointment : |
24.09.2012 |
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PAN No.: |
ADSPB5284A |
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DIN No.: |
02770788 |
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Other Directorship :
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Name : |
Mr. Sanjeev Kumar |
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Designation : |
Whole-time director |
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Address : |
Flat No. 1002, 10th Floor, Tower B-4, The World SPA, Sector
31, Gurgaon, Haryana, India |
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Date of Birth/Age : |
02.11.1965 |
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Date of Appointment : |
01.07.2012 |
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DIN No.: |
02873046 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Ullal Narendra Kini |
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Designation : |
Secretary |
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Address : |
Flat No. D-501, The Residency, Ardee City-2, Sector 52, Gurgaon –
122002, Haryana, India |
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Date of Birth/Age : |
15.04.1965 |
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Date of Appointment : |
01.07.2008 |
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PAN No.: |
AAAPU8311Q |
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Name : |
KS Nair |
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Designation : |
Director-Concentrate Plant Overall responsibility of
Concentrate Plant Operations |
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Name : |
Dr. RP Tiwari |
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Designation : |
GM – Quality Assurance |
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Name : |
Mr. Sudhir Dixit |
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Designation : |
GM – Business Systems |
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Name : |
Mr. Sandeep Tawale |
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Designation : |
GM - Finance |
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Name : |
Shubha Sekhar |
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Designation : |
Workplace Accountability Manager |
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Name : |
Mr. John Mathew |
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Designation : |
Director-Corporate Audit |
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Name : |
Mr. Abhijit Ray |
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Designation : |
G M – Corporate Audit |
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Name : |
Savio Mario Fritz D Souza |
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Designation : |
Talent Development Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.12.2013
|
Names of Shareholders |
No. of Shares |
|
Coca – Cola South Asia (India) Holdings Limited, Hong Kong |
199697222 |
|
Coca – Cola South Asia (India) Holdings Limited, Hong Kong jointly
with Jamshed Behram Dadachanji |
1 |
|
Coca – Cola South Asia (India) Holdings Limited, Hong Kong jointly
with Ravinder Narain |
1 |
|
Total |
199697224 |
As on 20.12.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Non-alcoholic Beverage Bases and Beverage Products such as Tea and Coffee. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
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Address : |
C-401, 4th Floor, Panchshil Tech Park, Nr. Don Bosco School Yerwada, Pune – 411006, Maharashtra, India |
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PAN
No. : |
AALFS0506L |
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Ultimate Holding Company
: |
¨ The Coca-Cola Company, USA |
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Holding Company : |
¨ Coca-Cola South Asia (India) Holdings Limited, Hong Kong |
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Subsidiary Company
: |
¨ Coca-Cola India Foundation, India |
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Fellow Subsidiaries
: |
¨ Hindustan Coca-Cola Beverages Private Limited, India ¨ Coca-Cola De Chile SA, Chile ¨ Atlantic Industries, Ireland ¨ Coca-Cola India Inc., India branch office, India ¨ The Coca-Cola Export Corporation, Atlanta ¨ Coca-Cola Beverages (Shanghai) Company Limited, Shanghai ¨ International Auditors Inc., Atlanta ¨ Coca-Cola MIDI S.A.S., France ¨ Pacific Refreshments Pte Limited, Singapore ¨ The Coca-Cola Trading Company LLC, Atlanta ¨ Coca-Cola Far East Limited, Hong Kong ¨ Coca-Cola Singapore Holding Pte Limited ¨ Coca-Cola (Thailand) Limited, Thailand ¨ Wave side (Pty) Limited., South Africa |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
440000000 |
Equity Shares |
Rs.10/- each |
Rs.4400.000 Millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199697224 |
Equity Shares |
Rs.10/- each |
Rs.1996.972 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 |
1996.972 |
1996.972 |
1996.972 |
|
(b) Reserves & Surplus |
5934.955 |
2732.785 |
1915.957 |
|
(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) |
7931.927 |
4729.757 |
3912.929 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
72.608 |
59.470 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
54.439 |
7.320 |
0.000 |
|
Total Non-current Liabilities (3) |
54.439 |
79.928 |
59.470 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1850.583 |
2518.117 |
349.714 |
|
(c) Other current
liabilities |
206.817 |
159.370 |
1674.848 |
|
(d) Short-term provisions |
31.867 |
1944.546 |
951.620 |
|
Total Current Liabilities (4) |
2089.267 |
4622.033 |
2976.182 |
|
|
|
|
|
|
TOTAL |
10075.633 |
9431.718 |
6948.581 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4206.621 |
3701.267 |
2345.892 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
52.469 |
40.980 |
167.682 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
30.175 |
|
(b) Non-current Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
33.659 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1374.765 |
1273.139 |
1386.360 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5668.014 |
5015.886 |
3930.609 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
848.944 |
678.903 |
484.261 |
|
(c) Trade receivables |
2710.878 |
2651.999 |
1657.118 |
|
(d) Cash and cash
equivalents |
290.462 |
721.325 |
351.140 |
|
(e) Short-term loans and
advances |
527.025 |
330.907 |
525.453 |
|
(f) Other current assets |
30.310 |
32.698 |
0.000 |
|
Total Current Assets |
4407.619 |
4415.832 |
3017.972 |
|
|
|
|
|
|
TOTAL |
10075.633 |
9431.718 |
6948.581 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14383.830 |
12097.470 |
11454.520 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4750.900 |
4063.250 |
2609.950 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1548.730 |
1323.140 |
905.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3202.170 |
2740.110 |
1704.420 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
16.03 |
13.72 |
8.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
33.03 |
33.59 |
22.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
47.56 |
43.27 |
38.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
0.86 |
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.11 |
0.96 |
1.01 |
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 |
1996.972 |
1996.972 |
1996.972 |
|
Reserves & Surplus |
1915.957 |
2732.785 |
5934.955 |
|
Net
worth |
3912.929 |
4729.757 |
7931.927 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11454.520 |
12097.470 |
14383.830 |
|
|
|
5.613 |
18.899 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sale |
11454.520 |
12097.470 |
14383.830 |
|
Profit |
1704.420 |
2740.110 |
3202.170 |
|
|
14.88% |
22.65% |
22.26% |
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 |
No |
|
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 |
Yes |
|
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 |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No.:- ITXAL/1933/2010 Filing
Date:- 17.08.2010 Reg. No.:- ITXA/1160/2011 Reg.
Date:- 02.05.2011 |
|
Petitioner: THE COMMISSIONER OF INCOME TAX-I PUNE Respondent: COCA COLA INDIA
PRIVATE LIMITED Petn. Adv : VIMAL GUPTA (0) District: PUNE |
|
Bench: DIVISION Status: Pre-Admission
Category: TAX APPEAL Next Date: 04.09.2014
Stage: FOR ADMISSION Coram:- HON’BLE SHRI JUSTICE S.C. DHARMADHIKARI HON’BLE SHRI JUSTICE B.P.
COLABAWALLA Last Date: 07.01.2013 Stage:
FOR ADMISSION – FRESH Last Coram: HON’BLE SHRI JUSTICE J.P. DEVADHAR HON’BLE SHRI JUSTICE M.S.
SANKLECHA |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
INDEX OF CHARGES
No Charges Exist for Company
CORPORATE INFORMATION
Subject is a private limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is a wholly owned subsidiary of Coca-Cola South Asia (India) Holdings Limited, Hong Kong which is a subsidiary of Coca-Cola South Asia Holdings Inc. USA, which in turn is a subsidiary of The Coca-Cola Company, USA (“the Ultimate Holding Company”). The Company is engaged in the following business activities:
a. Manufacture and distribution of Non-alcoholic Beverage Bases
b. Manufacture and sale of beverage products such as Tea and Coffee
c. Import and Sale of Concentrate bearing Schweppes trademarks to bottlers of Schweppes Holdings Limited
d. d. Related support activities in pursuit to above business
OPERATIONS
The Company has achieved net sales of Rs. 14383.830 million for the financial year ended March 31, 2013 as compared to Rs. 12097.470 million for the previous financial year, an increase of 19%. After providing Rs. 895.860 million towards depreciation (previous year Rs. 441.420 million), the Company has reported a net profit of Rs. 3202.170 million (previous year Rs. 2740.110 million).
ACKNOWLEDGEMENT
The directors thank the Central and State Governments; customers; The Coca-Cola Company, Atlanta; Coca-Cola South Asia (India) Holdings Limited, Hong Kong; Bankers; Suppliers; Co-packers, for their continued support. The directors take this opportunity to place on record their appreciation of the valuable contribution and support received from the employees at all levels of the Company.
FIXED ASSETS
œ Land
œ Buildings
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
œ Computer Equipments
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.60.73 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
66 |
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.