MIRA
INFORM REPORT
|
Report Date : |
21.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
JUBILANT FOODWORKS LIMITED |
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Registered
Office : |
B-214, Phase - II, Noida – 201305, Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.03.1995 |
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Com. Reg. No.: |
20-043677 |
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Capital
Investment / Paid-up Capital : |
Rs. 654.390 Millions |
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CIN No.: [Company Identification
No.] |
L74899UP1995PLC043677 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD03279D |
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PAN No.: [Permanent Account No.] |
AABCD1812C |
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Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject Runs Dominos Operations in |
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No. of Employees
: |
524647 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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
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
31-03-2014.
LOCATIONS
|
Registered / Corporate Office : |
B-214, Phase - II, Noida – 201305, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4090500 |
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Fax No.: |
91-120-4090599 |
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E-Mail : |
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Website : |
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Regional Office: |
1573, Sector-1, AGARA, HSR, Layout, Bangalore – 560102, Karnataka,
India |
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Tel. No.: |
91-80-25720348 / 9 |
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|
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Regional Office: |
Locate at: ·
Ghaziabad ·
Kolkata ·
Mumbai |
DIRECTORS
|
Name : |
Mr. Shyam S Bhartia |
|
Designation : |
Chairman and Non-Executive Director |
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Name : |
Mr. Hari S Bhartia |
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Designation : |
Co-Chairman and Non-Executive Director |
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Name : |
Mr. Ajay Kaul |
|
Designation : |
CEO cum Whole Time Director |
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Name : |
Mr. Arun Seth |
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Designation : |
Independent Director |
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Name : |
Mr. Vishal Marwaha |
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Designation : |
Independent Director |
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Name : |
Ms. Ramni Nirula |
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Designation : |
Independent Director |
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Name : |
Mr. Phiroz Vandrevala |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Ms. Mona Aggarwal |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4 |
0.00 |
|
|
32022950 |
48.94 |
|
|
32022954 |
48.94 |
|
|
|
|
|
|
424520 |
0.65 |
|
|
424520 |
0.65 |
|
Total shareholding
of Promoter and Promoter Group (A) |
32447474 |
49.58 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
775669 |
1.19 |
|
|
76391 |
0.12 |
|
|
30243176 |
46.22 |
|
|
31095236 |
47.52 |
|
|
|
|
|
|
928423 |
1.42 |
|
|
|
|
|
|
709852 |
1.08 |
|
|
158500 |
0.24 |
|
|
99545 |
0.15 |
|
|
49420 |
0.08 |
|
|
27745 |
0.04 |
|
|
22380 |
0.03 |
|
|
1896320 |
2.90 |
|
Total Public
shareholding (B) |
32991556 |
50.42 |
|
Total (A)+(B) |
65439030 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
65439030 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject Runs Dominos Operations in |
GENERAL INFORMATION
|
No. of Employees : |
524647 (Approximately) |
|
|
|
|
Bankers : |
· Axis Bank Limited · IDBI Bank Limited · HDFC Bank Limited · ICICI Bank Limited |
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|
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate Tower B, Near DLF Golf Cource, Sector 52, Gurgaon
– 122002, Haryana, India |
|
|
|
|
Subsidiary : |
Ř Jubilant
Foodworks Lanka Private Limited Ř JFW Holdings
Mauritius Private Limited* * The Company has incorporated a subsidiary, JFW Holdings Mauritius
Private Limited at Mauritius on March 15, 2012, however no share and other transaction
has been done in the same, Company has applied to Mauritius FSC (Governing
body) for closure. |
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|
|
|
Enterprises owned or significantly influenced by key management
personnel or their relatives : |
Ř Jubilant Life
Sciences Limited Ř HT Media Limited Ř Jubilant Agri
and Consumer Products Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 654.390
Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
Rs. 10/- each |
Rs. 800.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65283390 |
Equity Shares |
Rs.10/- each |
Rs. 652.834
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
654.390 |
652.834 |
650.779 |
|
(b) Reserves & Surplus |
4980.307 |
3709.322 |
2344.742 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.175 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
5634.872 |
4362.156 |
2995.521 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
370.731 |
198.130 |
70.617 |
|
(c) Other long
term liabilities |
89.195 |
60.282 |
38.599 |
|
(d) long-term
provisions |
0.000 |
14.549 |
22.419 |
|
Total Non-current
Liabilities (3) |
459.926 |
272.961 |
131.635 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1717.671 |
1317.549 |
1095.958 |
|
(c)
Other current liabilities |
794.257 |
538.925 |
432.925 |
|
(d) Short-term
provisions |
114.230 |
57.342 |
44.394 |
|
Total Current Liabilities
(4) |
2626.158 |
1913.816 |
1573.277 |
|
|
|
|
|
|
TOTAL |
8720.956 |
6548.933 |
4700.433 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5470.844 |
3710.800 |
2406.044 |
|
(ii)
Intangible Assets |
0.000 |
116.356 |
99.318 |
|
(iii)
Capital work-in-progress |
0.000 |
84.398 |
117.900 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
348.452 |
210.359 |
109.266 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1059.248 |
687.461 |
551.020 |
|
(e) Other
Non-current assets |
4.160 |
3.408 |
1.529 |
|
Total Non-Current
Assets |
6882.704 |
4812.782 |
3285.077 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
937.456 |
940.061 |
922.670 |
|
(b)
Inventories |
324.233 |
234.439 |
184.160 |
|
(c)
Trade receivables |
90.393 |
67.593 |
64.119 |
|
(d) Cash
and cash equivalents |
227.778 |
370.736 |
120.606 |
|
(e)
Short-term loans and advances |
256.938 |
122.744 |
123.700 |
|
(f)
Other current assets |
1.454 |
0.578 |
0.101 |
|
Total
Current Assets |
1838.252 |
1736.151 |
1415.356 |
|
|
|
|
|
|
TOTAL |
8720.956 |
6548.933 |
4700.433 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
17234.987 |
14075.714 |
10173.555 |
|
|
Other Income |
93.316 |
77.695 |
59.206 |
|
|
TOTAL (A) |
17328.303 |
14153.409 |
10232.761 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3822.050 |
3062.690 |
2150.557 |
|
|
Purchases of
Stock-in-Trade |
672.313 |
603.826 |
478.457 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.074) |
3.920 |
(17.832) |
|
|
Employees benefits
expense |
3368.955 |
2691.552 |
1962.209 |
|
|
Other expenses |
5279.306 |
5269.784 |
3696.514 |
|
|
Exceptional Items |
0.000 |
0.000 |
40.526 |
|
|
Rent |
1548.865 |
0.000 |
0.000 |
|
|
TOTAL (B) |
14684.415 |
11631.772 |
8310.431 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
2643.888 |
2521.637 |
1922.330 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.000 |
0.635 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2643.888 |
2521.002 |
1922.330 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
(F) |
766.656 |
546.717 |
375.724 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1877.232 |
1974.285 |
1546.606 |
|
|
|
|
|
|
|
Less |
TAX (I) |
619.256 |
623.191 |
490.175 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
1257.976 |
1351.094 |
1056.431 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores
parts |
NA |
0.179 |
0.000 |
|
|
Capital Goods |
NA |
176.010 |
139.148 |
|
|
TOTAL IMPORTS |
NA |
176.189 |
139.148 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
19.25 |
2.73 |
16.31 |
NOTE:
The above results were reviewed by the Audit committee and approved by the Board of Directors at their respective meeting held on May 19, 2014.
2. Following is the summary of Employees Stock Options [ESOP] existing,
granted, exercised and cancelled/forfeited during the quarter, under the ESOP
Schemes of the Company:
a) Options outstanding at the beginning of the quarter
Domino's ESOP Plan 2007: 385,947
JFL ESOP Scheme 2011: 663,570
b) New options granted during the quarter
Domino's ESOP Plan 2007: NIL
JFL ESOP Scheme 2011: NIL
c) Options exercised during the quarter
Domino's ESOP Plan 2007: 14,400
JFL ESOP Scheme 2011: 2,730
d) Options cancelled / forfeited during the quarter
Domino's ESOP Plan 2007: NIL
JFL ESOP Scheme 2011: 3,000
e) Options outstanding at the end of the quarter
Domino's ESOP Plan 2007: 371,547
JFL ESOP Scheme 2011: 657,840
The Company has opted for intrinsic value method for valuation of options under
both the ESOP Schemes
Under ESOP 2007, as the shares were not quoted on any stock exchange prior to
grant of options by the Company, hence the fair value of its shares was
determined on the basis of a valuation performed by a Category I Merchant
Banker.
Under ESOP 2011, the market price of the shares as defined under SEBI (Employee
Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 was
taken as the exercise price.
During the current quarter, 9,400 Equity Shares were allotted under the
Domino's Employees Stock Option Plan, 2007 at a premium as per respective
grants. 2,730 Equity Shares of Rs. 10 each were allotted under the JFL
Employees Stock Option Scheme 2011 at a premium as per the grants.
3. During the current quarter, the Company has further invested an amount of
Rs. 21.844 millions in its Wholly Owned Subsidiary " Jubilant FoodWorks
Lanka (Private) Limited" and its investment in the said subsidiary as at
March 31, 2014 is Rs. 348.452 millions.
4. Segment Reporting: As the Company’s business activity primarily falls within
a single business segment i.e. Food and Beverages, thus there are no additional
disclosures to be provided under Accounting Standard 17 – “Segment Reporting’.
The management considers that the various goods and services provided by the
company constitutes single business segment, since the risk and rewards from
these services are not different from one another.
Information about secondary segment
The geographical segments considered for disclosure are as follows:
-Sales within India include sales to customers located within India
-Sales outside India include sales to customers located outside India
Revenue, Trade Receivables, Fixed Assets and Capital expenditure during the
year as per Geographical Markets.
5. The figures of the last quarter are the balancing figures between audited
figures in respect of the full financial year and published year to date
figures upto the third quarter of current financial year.
6. Previous period / year figures have been regrouped and /or re-arranged,
wherever necessary.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
7.26 |
9.55 |
10.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.89 |
14.03 |
15.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.42 |
31.57 |
34.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.45 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.70 |
0.91 |
0.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
650.779 |
652.834 |
654.390 |
|
Reserves & Surplus |
2344.742 |
3709.322 |
4980.307 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.175 |
|
Net worth |
2995.521 |
4362.156 |
5634.872 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
10173.555 |
14075.714 |
17234.987 |
|
|
|
38.356 |
22.445 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
10173.555 |
14075.714 |
17234.987 |
|
Profit |
1056.431 |
1351.094 |
1257.976 |
|
|
10.38% |
9.60% |
7.30% |
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 |
Yes |
|
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 |
Yes |
|
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 |
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 |
FIXED ASSETS:
Tangible Assets
Ř
Freehold Land
Ř
Leasehold Improvements
Ř
Plant and Machinery
Ř
Office Equipment
Ř
Furniture and Fixture
Ř
Vehicles
Intangible Assets
Ř
Store Opening Fees and
Territory Fees
Ř
Software
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. 60.33 |
|
|
1 |
Rs. 103.18 |
|
Euro |
1 |
Rs. 81.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.