MIRA INFORM REPORT
|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
FERRERO INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201-204 Pentagon Tower 1, Magarpatta City Hadapsar, Pune – 411028,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.08.2013 |
|
|
|
|
Date of
Incorporation : |
02.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-147065 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2330.524 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300KA2004PTC034064 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRF01003C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF8110B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Chocolate and Confectioneries
and Marketing Research Activities. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company is continuously incurring heavy losses which has resulted
in to fully erosion of net worth. However, business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a secured 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.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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 DECLINED
MANAGEMENT NON –
COOPERATIVE (91-20-66804000)
LOCATIONS
|
Registered Office : |
201-204 Pentagon Tower 1, Magarpatta City Hadapsar, Pune – 411028,
Maharashtra, India |
|
Tel. No.: |
91-20-66804000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 08.03.2014
|
Name : |
Mr. Kamal Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
201-202 |
|
Date of Birth/Age : |
22.12.1980 |
|
Date of Appointment : |
27.10.2009 |
|
DIN No.: |
02831435 |
|
Election Commission Identity Card No. |
GTR2928539 |
|
PAN No.: |
AFHPA3809H |
|
|
|
|
Name : |
Mr. Luigi Oddone |
|
Designation : |
Additional director |
|
Address : |
Piazza Vittorio Veneto No. 16 SC A, 10123, Torino Italy – 10123 |
|
Date of Birth/Age : |
16.01.1964 |
|
Date of Appointment : |
24.10.2013 |
|
DIN No.: |
05184230 |
|
Passport No.: |
AA3584514 |
|
|
|
|
Name : |
Mr. Claudio Olivero |
|
Designation : |
Additional director |
|
Address : |
Avenue Des Hirondelles, 34, 1410, Waterloo, Belgium |
|
Date of Birth/Age : |
25.08.1957 |
|
Date of Appointment : |
08.07.2013 |
|
DIN No.: |
06640959 |
|
Passport No.: |
Y057363 |
|
|
|
|
Name : |
Mr. Vikas Goyal |
|
Designation : |
Additional director |
|
Address : |
B-148A, Gurdwara Road, Mahavir Enclave, Delhi – 110045, India |
|
Date of Birth/Age : |
08.09.1972 |
|
Date of Appointment : |
11.12.2013 |
|
DIN No.: |
06759863 |
|
Passport No.: |
Z2276586 |
|
PAN No.: |
AEYPG6880J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
FIL Luzembourg |
|
233052422 |
|
Ferrero SPA |
|
43427100 |
|
Simest SPA |
|
7492000 |
|
Magic Production Group SPA |
|
2999950 |
|
Ferrero BV Netherlands |
|
1 |
|
Total |
|
286971473 |
Equity Share Break up (Percentage of Total Equity)
As on 08.03.2014
|
Category |
Percentage |
|
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 : |
Manufacturing and Trading of Chocolate and Confectioneries
and Marketing Research Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
|
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Center, Anchorage Ii,100/2,Richmond Road, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Holding company: |
|
|
|
|
|
Fellow Subsidiary
company: |
[U15492PN2007PTC146800]
[U31900PN2011FTC138378]
|
CAPITAL STRUCTURE
As on 08.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
394600000 |
Equity Shares |
Rs.10/- each |
Rs. 3946.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
286971473 |
Equity Shares |
Rs.10/- each |
Rs. 2869.715
Millions |
|
|
|
|
|
As on 31.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
265000000 |
Equity Shares |
Rs.10/- each |
Rs. 2650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
233052373 |
Equity Shares |
Rs.10/- each |
Rs. 2330.524
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.08.2013 |
31.08.2012 |
31.08.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2330.524 |
2330.524 |
702.689 |
|
(b) Reserves & Surplus |
(3744.707) |
(2437.867) |
(1427.553) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
539.191 |
0.000 |
640.600 |
|
Total
Shareholders’ Funds (1) + (2) |
(874.992) |
(107.343) |
(84.264) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3709.058 |
0.000 |
0.000 |
|
(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 |
34.560 |
12.406 |
8.842 |
|
Total
Non-current Liabilities (3) |
3743.618 |
12.406 |
8.842 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5.550 |
0.000 |
172.420 |
|
(b) Trade payables |
3044.177 |
1031.728 |
777.589 |
|
(c) Other current liabilities |
1484.301 |
68.321 |
41.390 |
|
(d) Short-term provisions |
12.828 |
2.595 |
3.146 |
|
Total
Current Liabilities (4) |
4546.856 |
1102.644 |
994.545 |
|
|
|
|
|
|
TOTAL |
7415.482 |
1007.707 |
919.123 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3511.970 |
41.435 |
21.809 |
|
(ii) Intangible Assets |
81.946 |
5.104 |
5.665 |
|
(iii) Capital work-in-progress |
160.197 |
13.909 |
0.000 |
|
(iv) Intangible assets under
development |
2.551 |
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 |
136.376 |
16.955 |
10.926 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3893.040 |
77.403 |
38.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1985.699 |
412.491 |
397.573 |
|
(c) Trade receivables |
766.741 |
87.265 |
191.662 |
|
(d) Cash and cash equivalents |
341.301 |
232.252 |
38.778 |
|
(e) Short-term loans and
advances |
428.701 |
198.296 |
252.710 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3522.442 |
930.304 |
880.723 |
|
|
|
|
|
|
TOTAL |
7415.482 |
1007.707 |
919.123 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.08.2013 |
31.08.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
5729.436 |
3411.675 |
|
|
Other Income |
|
21.370 |
6.288 |
|
|
TOTAL
|
|
5750.806 |
3417.963 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
7550.382 |
4420.806 |
|
|
Employees benefits expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
|
|
7550.382 |
4420.806 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION ( |
|
(1799.576) |
(1002.843) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
166.429 |
7.471 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(1966.005) |
(1010.314) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
|
(6.744) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(1959.261) |
(1010.314) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
630.181 |
0.000 |
|
|
Capital Goods |
|
75.016 |
0.000 |
|
|
Traded Goods |
|
650.182 |
618.700 |
|
|
TOTAL
IMPORTS |
|
1355.379 |
618.700 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
(6.89) |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.08.2013 |
31.08.2012 |
31.08.2011 |
|
PAT / Total Income |
(%) |
(34.07) |
(29.56) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(34.31) |
(29.61) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(27.11) |
(101.66) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.25 |
9.41 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(4.25) |
0.00 |
(2.05) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.84 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.08.2011 |
31.08.2012 |
31.08.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
702.689 |
2330.524 |
2330.524 |
|
Reserves & Surplus |
(1427.553) |
(2437.867) |
(3744.707) |
|
Share Application money
pending allotment |
640.600 |
0.000 |
539.191 |
|
Net
worth |
(84.264) |
(107.343) |
(874.992) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
3709.058 |
|
Short term borrowings |
172.420 |
0.000 |
5.550 |
|
Total
borrowings |
172.420 |
0.000 |
3714.608 |
|
Debt/Equity
ratio |
(0.238) |
0.000 |
(2.627) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.08.2012 |
31.08.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3411.675 |
5729.436 |
|
|
67.936 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.08.2012 |
31.08.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3411.675 |
5729.436 |
|
Profit |
(1010.314) |
(1959.261) |
|
|
(29.61%) |
(34.20%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.08.2013 |
31.08.2012 |
31.08.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
648.615 |
0.000 |
NA
|
|
|
|
|
|
|
Total |
648.615 |
0.000 |
NA
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
ACTIVITIES OF THE
COMPANY
During the year the Company has achieved the turnover of Rs. 5729.400 Millions as compared to previous year’s turnover of Rs. 3411.700 Millions and the company has incurred sustained loss of Rs. 1959.200 Millions as compared to previous year’s Loss which was Rs. 1010.300 Millions. The Directors are putting all efforts to further improve the Operations results and profitability of the Company.
CORPORATE
INFORMATION:
Subjec was incorporated in India on June 2, 2004 to carry on the business of Manufacturing and Trading of Chocolate and Confectioneries and Marketing Research Activities.
AMALGAMATION
During the year, Imsofer Manufacturing India Private Limited (Imsofer) engaged in the manufacture as well as repackaging and distribution of confectionary items and MPG Multi Production Group India Private Limited (MPG India) engaged in the manufacture of manual, semi-automatic, automatic monument, toys, barbies, gadgets, merchandising and premiums and their components, parts, fittings and accessories through contract manufacturers (to gether referred to as the Transferor companies) have been amalgamated with the Company, vide the Scheme of Amalgamation (the Scheme') sanctioned by the Hon’ble High Court of Judicature at Mumbai vide its Order dated September 20, 2013, with effect from April 1, 2013, the appointed date in terms of the Scheme. The amalgamation is expected to channelize synergies and lead to better utilization of available resources and result in greater economies of scale.
The Company discharged the purchase consideration for the amalgamation aggregating to Rs. 1,191,612,110 through issue of 53,919,100 equity shares of Rs. 10/- each fully paid; in the Company to the erstwhile shareholders of the Transferor Companies on October 24, 2013. In terms of the scheme, the company has accounted for the amalgamation under the purchase method and recognized assets and liabilities acquired at fair value. The excess of purchase consideration paid by the company over the aggregate value of the net assets acquired has been treated as goodwill, to be amortized over a period of 5 years from the date of amalgamation.
UNSECURED LOAN
|
PARTICULARS |
31.08.2013 (Rs.
in Millions) |
31.08.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Other external commercial borrowings |
3709.058 |
0.000 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
5.550 |
0.000 |
|
Total |
3714.608 |
0.000 |
CONTINGENT
LIABILITIES
|
PARTICULARS |
31.08.2013 |
|
Disputed Kerala Value Added Tax Demand |
1.006 |
|
The Company had received the Income Tax Assessment order dated May 29, 2013 together with demand notice for Rs. 6.785 Millions toward additional taxes arising on adjustment to the Arm's length price of the International Transactions for the AY 2009-10. In the opinion of the management the adjustments made in the said order and the demand there on is inappropriate and have already filed an appeal against the same order |
6.785 |
|
Guarantee issued in favour of Government of Maharashtra |
49.478 |
|
Bank Guarantee Issued in lieu of Security Deposit to Maharashtra State Electricity Distribution Company Limited |
16.096 |
|
customs duty payable against the advance license |
45.076 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- 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 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.59.97 |
|
|
1 |
Rs.102.90 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
15 |
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.