MIRA INFORM REPORT
|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DECATHLON SPORTS INDIA PRIVATE LIMITED (w.e.f.01.05.2008) |
|
|
|
|
Formerly Known
As : |
4 L IT SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 36, Dyavasandra Village, Krishnarajapura Hobli, Bangalore
South Taluk, Bangalore – 560048, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
30.04.2004 |
|
|
|
|
Com. Reg. No.: |
08-033858 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 180.213
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200KA2004PTC033858 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRL01495E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL9861H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Sports Accessories, Apparel, Goods and
Equipments. |
|
|
|
|
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 1170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “DECATHLON SA”. It is an established
company having moderate track record. The management has failed to file its financial record with government
department for the year 2013. As per available financial record of 2012, the rating is constrained
on account of company’s moderate financial risk profile marked by continuous
losses that company has incurred from its operation and below average
financial performance of the company. However, trade relations are fair. Business is active. Payment terms
are slow. 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 – 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of 4.9
%, Fitch Rating said. The global rating agency expects the economy to pick up
in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Ms. Shalmi |
|
Designation : |
Customer Relationship Management |
|
Contact No.: |
91-8095556129 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office : |
Survey No. 36, Dyavasandra Village, Krishnarajapura Hobli, Bangalore
South Taluk, Bangalore – 560048, Karnataka, India |
|
Tel. No.: |
91-80-25741504 |
|
Mobile No.: |
91-8095556129 [Ms. Shalmi] |
|
Fax No.: |
91-80-28439692 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 21.06.2013
|
Name : |
Michel Aballea |
|
Designation : |
Whole-time director |
|
Address : |
B18, Epsilon Yamlor Main Road, Off Hal Airport Road, Bangalore – 560066,
Karnataka, India |
|
Date of Birth/Age : |
13.06.1967 |
|
Date of Appointment : |
15.02.2008 |
|
DIN No.: |
02046246 |
|
|
|
|
Name : |
Franck Maurice Lyonel Lejeune |
|
Designation : |
Additional director |
|
Address : |
Villa No. 75, Adarsh Vista Vibhuthipura, Vignan Nagar, Bangalore -
560037, Karnataka, India |
|
Date of Birth/Age : |
17.11.1969 |
|
Date of Appointment : |
19.11.2013 |
|
DIN No.: |
06739899 |
KEY EXECUTIVES
|
Name : |
Ms. Shalmi |
|
Designation : |
Customer Relationship Management |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Decathlon SA, France |
|
4059566 |
|
Valothlon Sarl, France |
|
1 |
|
|
|
|
|
Total |
|
4059567 |
AS ON 30.09.2013
|
Names of Allottee |
|
No. of Shares |
|
Decathlon SA, France |
|
2650580 |
|
|
|
|
|
Total |
|
2650580 |
AS ON 21.06.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
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 : |
Trading of Sports Accessories, Apparel, Goods and
Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
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|
|||||||||||||||
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Bankers : |
Not Divulged |
|||||||||||||||
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|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain, Christopher, Srikanth Srikanth and Associates Chartered Accountants |
|
Address : |
2nd Floor, Uniworth Plaza, 20, Sankey Road, Bangalore –
560020, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFJ1163D |
|
|
|
|
Ultimate
Holding Company : |
Decathlon SA, France |
|
|
|
|
Associated
Enterprise : |
· Inthanon Sporting Goods Company Limited · Thailand Lanka Sporting Goods Private Limited, Srilanka · Decathlon France SAS Shanghai Sporting Trading Co., Limited, China · Guangzhou Xunli Technology Co., Limited, China · Oxyprod SRL Unipersonale, Milano · SNC Promiles, France · Etablissements Simond SAS, France · Indeca Sporting Goods Private Limited, India [U52398KA2006PTC039189] · Shanghai Sporting Trading Limited, China · Tianjin New North Star Sport Co., Limited, China · Suzhou Diqi Sports Co., Limited, China · Jbo Sporting Goods Co., Limited, China · Fazhilong Sports Production (Shenzhen) Co. Limited, China · Sports & Technics overseas Limited, Taiwan · White Owl Sports Private Limited, India · Nanjing Comport Import and Export Trading Co., Limited, China · Fondation D'entreprise Oxylane · Semaphore SAS, France ·
Respro (UK) Limited, United Kingdom · Simond- Chamonix |
|
|
|
|
Key management
personnel of the Company : |
· Michel ABALLEA · Jeremie RUPPERT ·
Joao PERIERA |
CAPITAL STRUCTURE
AS ON 21.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,750,000 |
Equity Shares |
Rs. 100/- each |
Rs. 775.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,710,147 |
Equity Shares |
Rs. 100/- each |
Rs. 671.015
Millions |
|
|
|
|
|
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,750,000 |
Equity Shares |
Rs. 100/- each |
Rs. 275.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,802,126 |
Equity Shares |
Rs. 100/- each |
Rs. 180.213
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
180.213 |
119.749 |
|
(b) Reserves & Surplus |
|
17.515 |
(36.472) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
95.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
292.728 |
83.277 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
1.982 |
1.151 |
|
Total
Non-current Liabilities (3) |
|
1.982 |
1.151 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
45.900 |
100.000 |
|
(b)
Trade payables |
|
247.839 |
60.846 |
|
(c)
Other current liabilities |
|
56.729 |
29.608 |
|
(d)
Short-term provisions |
|
28.116 |
8.204 |
|
Total
Current Liabilities (4) |
|
378.584 |
198.658 |
|
|
|
|
|
|
TOTAL |
|
673.294 |
283.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
99.015 |
33.261 |
|
(ii)
Intangible Assets |
|
0.535 |
2.210 |
|
(iii)
Capital work-in-progress |
|
0.000 |
3.682 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
80.962 |
13.650 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
180.512 |
52.803 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
435.256 |
175.656 |
|
(c)
Trade receivables |
|
15.231 |
3.485 |
|
(d)
Cash and cash equivalents |
|
7.943 |
38.636 |
|
(e)
Short-term loans and advances |
|
28.819 |
10.002 |
|
(f)
Other current assets |
|
5.533 |
2.504 |
|
Total
Current Assets |
|
492.782 |
230.283 |
|
|
|
|
|
|
TOTAL |
|
673.294 |
283.086 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
100.307 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
13.758 |
|
|
4] (Accumulated Losses) |
|
|
(86.115) |
|
|
NETWORTH |
|
|
27.950 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
60.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
60.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
87.950 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
14.445 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
76.527 |
|
|
Sundry Debtors |
|
|
1.841 |
|
|
Cash & Bank Balances |
|
|
51.654 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
16.241 |
|
Total
Current Assets |
|
|
146.263 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
10.457 |
|
|
Other Current Liabilities |
|
|
61.471 |
|
|
Provisions |
|
|
0.830 |
|
Total
Current Liabilities |
|
|
72.758 |
|
|
Net Current Assets |
|
|
73.505 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
87.950 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
606.734 |
380.880 |
|
|
|
|
Other Income |
2.676 |
4.113 |
|
|
|
|
TOTAL |
609.410 |
384.993 |
148.821 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
752.534 |
436.596 |
162.831 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(143.124) |
(51.603) |
(14.010) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(143.124) |
(51.603) |
(14.010) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement of expenses |
57.536 |
16.320 |
14.142 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Sports apparel, accessories, goods and equipments |
457.962 |
271.707 |
|
|
|
|
Purchase of fixed assets |
11.008 |
0.423 |
|
|
|
TOTAL IMPORTS |
468.970 |
272.130 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(106.19) |
(50.19) |
(14.76) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(23.49) |
(13.40) |
(9.41) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(23.59) |
(13.55) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.26) |
(18.47) |
(8.71) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.49) |
(0.62) |
(0.50) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
1.20 |
2.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.16 |
2.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
119.749 |
180.213 |
|
Reserves & Surplus |
(36.472) |
17.515 |
|
Share Application money
pending allotment |
0.000 |
95.000 |
|
Net
worth |
83.277 |
292.728 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
100.000 |
45.900 |
|
Total
borrowings |
100.000 |
45.900 |
|
Debt/Equity
ratio |
1.201 |
0.157 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
148.821 |
384.993 |
609.410 |
|
|
|
158.695 |
58.291 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
148.821 |
384.993 |
609.410 |
|
Profit/ (Loss) |
(14.010) |
(51.603) |
(143.124) |
|
|
(9.41%) |
(13.40%) |
(23.49%) |
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 |
No |
|
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 |
No |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from Survey
No.96/1, Kodathi Village, Varthur Hobli, Sarjapura Road, Bangalore South Taluk,
Bangalore – 560035, Karnataka, India to the present address w.e.f.26.09.2011.
BACKGROUND
Decathlon Sports India Private Limited was incorporated on April 30, 2004 under the Companies Act, 1956 and is a subsidiary of Decathlon SA, France.
The Company was carrying out software development projects till November 2007. Thereafter, the Company decided to discontinue the said activity with effect from December 2007 and cancel the STPI registration. Subsequently, the name of the Company and its main objects were changed to include wholesale trading activity. Effective April 2009, Company leased land and building on Sarjapur Road, Bangalore and commenced wholesale cash and carry trading in sports accessories, apparel, goods and equipments.
OPERATIONS REVIEW
The Company has achieved a total income of Rs. 609.410 Millions for the year ended December 31, 2012 as against Rs. 384.993 Millions achieved during the previous year ended December 31, 2011. Net Loss of the Company for the year ended December 31, 2012 stood at Rs. 143.124 Millions as against Net Loss of Rs. 51.603 Millions for the previous year ended December 31, 2011. The Board is confident of achieving better results in years to come.
APPROVAL FOR SINGLE
BRAND RETAIL TRADING
The Company has received the approval from Foreign
Investment Promotion Board on April 4, 2013 to undertake the business of single
brand retail trading in sports equipment, apparel, foot ware and related
accessories.
FIXED ASSETS:
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· Computer 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. 60.01 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 81.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.