MIRA
INFORM REPORT
|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOWERS WATSON INDIA PRIVATE LIMITED (w.e.f. 27.08.2010) |
|
|
|
|
Formerly Known
As : |
WATSON WYATT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Tower B, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.12.1996 |
|
|
|
|
Com. Reg. No.: |
05-051336 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.980 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67190HR1996PTC051336 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company’s Principal Activity is to Provide Human Resources
Consultancy, Benefits Valuation and Other Related Advisory Services. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. Profit of the company seems to be low during 2013. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 BY
|
Name : |
Mr. Krish Kalra |
|
Designation : |
Accountant |
|
Contact No.: |
91-124-4322800 |
|
Date : |
19.08.2014 |
LOCATIONS
|
Registered Office : |
2nd Floor, Tower B, Unitech Business Park, South City – 1,
Gurgaon – 122001, Haryana |
|
Tel. No.: |
91-124-4322800 |
|
Fax No.: |
91-124-4322801 |
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E-Mail : |
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Website : |
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Branches : |
BANGALORE 36, Ground Floor, Crown Point, Lavelle Road, Kasturba Cross Road,
Banaglore – 560001, Karnataka, India Tel No.: 91-80-40453300 Fax No.:91-80-41148990 KOLKATA Merlin Links, 166b, 2nd Floor, S P Mukherjee Road, Kolkata
– 700026, West Bengal, India Tel No.: 91-33-66336000 Fax No.:91-33-66336001 MUMBAI Solitaire Corporate Park, Building 5, 1st Floor, Andheri –
Kurla Road, Andheri – 400093, India Tel No.: 91-22-42329900 / 28379900 Fax No.:91-22-28370700 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Vivek Nath |
|||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||
|
Address : |
M – 142, Greater Kailash – 1, New Delhi – 110048, Delhi, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
08.08.1978 |
|||||||||||||||||||||||||||
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Date of Appointment : |
01.07.2011 |
|||||||||||||||||||||||||||
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DIN No.: |
05133706 |
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Other Directorship :
|
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|||||||||||||||||||||||||||
|
Name : |
Mr. Robert James Charles |
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|
Designation : |
Director |
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|
Address : |
Flat G 13f, Celeste Court, 12 Fung Fai Terrace, Happy Valley, Hongkong
- 0001 |
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|
Date of Birth/Age : |
09.09.1965 |
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Date of Appointment : |
01.08.2008 |
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DIN No.: |
02241133 |
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Other Directorship :
|
||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Name : |
Mr. Vivek Jalan |
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|
Designation : |
Director |
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|
Address : |
E 902, Park View City 2, Sohna Road, Gurgaon – 122019, Haryana, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
08.02.1976 |
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Date of Appointment : |
28.05.2010 |
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DIN No.: |
03088586 |
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Other Directorship :
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Krish Kalra |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Watson Wyatt Holdings Mauritius Limited, Mauritius |
3308002 |
78.80 |
|
Vivek Nath |
3 |
0.00 |
|
Watson Wyatt Holdings Limited, UK |
890089 |
21.20 |
|
Total
|
4198094 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company’s Principal Activity is to Provide Human Resources
Consultancy, Benefits Valuation and Other Related Advisory Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
|
|
Bankers : |
Not Divulged |
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|
|
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
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|
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|
Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex,
DLF city Phase – Ii, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-6792000 |
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Fax No.: |
91-124-6792012 |
|
PAN No.: |
AACFD4815A |
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|
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Ultimate Holding Company : |
Towers Watson And Company, US |
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Holding Company : |
Watson Wyatt Holdings (Mauritius) Limited |
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|
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Subsidiaries : |
Watson Wyatt Holdings Limited, UK The Wyatt Company (UK) Limited Towers Watson Delaware Incorporation TPFandC Incorporation, Japan TPFandC Incorporation, Singapore TPFandC Incorporation, United States Towers Watson (Malaysia) Sdn Bhd Towers Watson Australia Pty Limited Towers Watson Chilee S.A. Towers Watson Data Management Center Towers Watson Hongkong Limited Towers Watson Limited, UK Towers Watson Philippines Incorporation Towers Watson Consulting (Shanghai) Limited Towers Watson Singapore Pte Limited Towers Watson K. K. Japan Towers Watson Risk Consulting Pte. Limited (Singapore) Towers Watson NV (Belgium) Towers Perrin Incorporation, Canada Towers Perim UK Limited Towers Watson AB (Sweden) Towers Watson Asia Pacific Shared Service Center Towers Watson Assessorial Empresarial Limited (Brazil) Towers Watson Deutschland Gmbh (Germany) Towers Watson Incorporation Korea Branch Towers Watson India SRL Towers Watson Thailand Limited TP PA BNUSA TP Shanghai Consulting TPFandC Incorporation – Belgium TPFandC Incorporation – France TPFandC Incorporation – Germany TPFandC Incorporation – Hong Kong TPFandC Incorporation – Malaysia TW Canada Incorporation SNCAN TW Consulators Mexico SA Decv TW UK Limited Towers Watson AG (Switzerland) Towers Watson (Dusseldorf) Gmbh, Germnay Towers Watson BV Towers Watson SARL Towers Perrin Netherlands B. V. Towers Watson Deutschland Gmbh Towers Watson Risk Consulting Limited, Hong Kong Towers Watson De Espana Sa, Spain Towers Watson ULC, Korea Towers Watson Worldwide Incorporation Towers Watson Purbajaga Watson Wyatt Philippines Incorporation Towers Watson Risk Consulting Private Limited (Upto 31 March, 2012) |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4198094 |
Equity Shares |
Rs.10/- each |
Rs. 41.980
Millions |
|
|
|
|
|
Reconciliation of the number of shares and amount outstanding at the beginning
and at the end of the reporting period:
|
Particulars |
As at 31 March,
2013 |
|
|
|
Number of shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the
year |
3308005 |
33.080 |
|
Shares issued during the year |
890089 |
8.900 |
|
Shares outstanding at the end of the year |
4198094 |
410.980 |
Details of shares held by each shareholder holding more than 5% shares
|
Name of
shareholder |
As at 31 March,
2013 |
|
|
Number of shares
held |
% of holding in
that class of shares |
|
|
Equity shares with voting rights |
|
|
|
Watson Wyatt Holdings (Mauritius) Limited,
the Holding Company |
3308002 |
78.79% |
|
Watson Wyatt Holdings Limited, UK |
890089 |
21.20% |
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 |
41.980 |
33.080 |
33.080 |
|
(b) Reserves & Surplus |
21.839 |
(103.729) |
(103.236) |
|
(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) |
63.819 |
(70.649) |
(70.156) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term
borrowings |
184.175 |
93.968 |
125.997 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
1.380 |
0.000 |
0.000 |
|
(d) long-term
provisions |
8.823 |
0.147 |
0.000 |
|
Total Non-current
Liabilities (3) |
194.378 |
94.115 |
125.997 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
138.048 |
107.090 |
71.821 |
|
(c)
Other current liabilities |
8.048 |
83.629 |
29.761 |
|
(d) Short-term
provisions |
4.343 |
5.178 |
11.454 |
|
Total Current
Liabilities (4) |
150.439 |
195.897 |
113.036 |
|
|
|
|
|
|
TOTAL |
408.636 |
219.363 |
168.877 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
35.575 |
21.987 |
16.856 |
|
(ii)
Intangible Assets |
0.756 |
0.028 |
0.062 |
|
(iii)
Capital work-in-progress |
7.604 |
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) |
17.522 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.486 |
43.672 |
36.003 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
93.943 |
65.687 |
52.921 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
106.865 |
83.690 |
40.011 |
|
(d) Cash
and cash equivalents |
50.386 |
11.257 |
14.021 |
|
(e)
Short-term loans and advances |
32.522 |
14.400 |
4.842 |
|
(f)
Other current assets |
124.920 |
44.329 |
57.082 |
|
Total
Current Assets |
314.693 |
153.676 |
115.956 |
|
|
|
|
|
|
TOTAL |
408.636 |
219.363 |
168.877 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
585.049 |
299.124 |
|
|
|
|
Other Income |
2.516 |
0.000 |
|
|
|
|
TOTAL (A) |
587.565 |
299.124 |
147.246 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
349.811 |
172.717 |
|
|
|
|
Other expenses |
222.169 |
120.224 |
|
|
|
|
TOTAL (B) |
571.980 |
292.941 |
147.374 (Including
Depreciation and Financial Expenses) |
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.585 |
6.183 |
||
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
0.524 |
0.493 |
||
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.061 |
5.690 |
||
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.585 |
6.183 |
||
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(0.524) |
(0.493) |
(0.128) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.790) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.266 |
(0.493) |
(0.128) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
470.763 |
162.364 |
81.613 |
|
|
TOTAL EARNINGS |
470.763 |
162.364 |
81.613 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.06 |
(0.15) |
(0.03) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.05 |
(0.16) |
(0.09) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.09) |
(0.16) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.14) |
(0.22) |
(0.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.89 |
(1.33) |
(1.80) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09 |
0.78 |
1.03 |
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 |
33.080 |
33.080 |
41.980 |
|
Reserves & Surplus |
(103.236) |
(103.729) |
21.839 |
|
Net worth |
(70.156) |
(70.649) |
63.819 |
|
|
|
|
|
|
long-term borrowings |
125.997 |
93.968 |
184.175 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
125.997 |
93.968 |
184.175 |
|
Debt/Equity ratio |
(1.796) |
(1.330) |
2.886 |
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 |
147.246 |
299.124 |
587.565 |
|
|
|
103.146 |
96.429 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
147.246 |
299.124 |
587.565 |
|
Profit |
(0.128) |
(0.493) |
0.266 |
|
|
(0.09%) |
(0.16%) |
0.05% |
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 |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note: The Registered
Office of the company has been shifted from Solitaire Corporate Park, Building
No 5, 1st Floor, Andheri (East), Mumbai -400093, Maharashtra, India
to the present address w.e.f. 20.11.2013.
OPEARTIONS:
Towers Watson India Private Limited Formerly Known as Watson Wyatt India
Private Limited was Incorporated on December 6, 1996. The Company’s Principal
Activity is to Provide Human Resources Consultancy, Benefits Valuation and
Other Related Advisory Services.
Pursuant to the Scheme of Amalgamation between the Company and Towers
Watson Risk Consulting Private Limited, the Assets and Liabilities of the Said
Transferor Company were transferred to and vested in the Transferee Company
with Effect from the Appointed Date, 1st April 2011. The Scheme Has,
Accordingly Been Given Effect to in These Financial Statements.
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
Loans from related parties |
184.175 |
93.968 |
|
Total |
184.175 |
93.968 |
INDEX OF CHARGES:
No Charges Exist for Company
FIXED ASSETS:
·
Office Equipment
·
Furniture and Fixtures
·
Computers
·
Computer Software
·
Goodwill
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 judgment 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.60.71 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.