MIRA INFORM REPORT
|
Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNICHARM INDIA PRIVATE LIMITED (w.e.f.01.10.2008) |
|
|
|
|
Formerly Known
As : |
UNICHARM INDIA HYGIENIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No.222 and 244, 246 and 247, 2nd Floor, Centrum
Plaza Building, Golf Course Road, Sector – 53, Gurgaon - 122002, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
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|
Date of Incorporation
: |
10.07.2008 |
|
|
|
|
Com. Reg. No.: |
05-038151 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 5026.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51391HR2008FTC038151 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RTKU00799B |
|
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|
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PAN No.: [Permanent Account No.] |
AABCU0113A |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
The Company is engaged
in the business of manufacturing and trading of disposable personal hygiene
products. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
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 9000000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by huge accumulated losses incurred by the company over a
year 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
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 PARTED BY
|
Name : |
Mr. Kailash Chaudhari |
|
Designation : |
Finance Department |
|
Contact No.: |
91-124-4351300 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office : |
Office No.222 and 244, 246 and 247, 2nd Floor, Centrum Plaza
Building, Golf Course Road, Sector – 53, Gurgaon - 122002, Haryana, India |
|
Tel. No.: |
91-124-4351314 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
Corporate Office : |
402, Centrum Plaza, Sector - 53, Golf Course Road, Gurgaon – 122001,
Haryana, India |
|
Tel. No.: |
91-124-4351300 |
|
|
|
|
Factory 1 : |
Plot No. SP3- 67 To 70, Neemarana
Industrial State, Majrakath, Phase-3, Japanese Investors Zone, Neemrana -
301705, Rajasthan, India |
|
Tel. No.: |
91-149-4670151 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Yukihiro Kimura |
||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||
|
Address : |
1-5-4-604, Shimo Meguro Ku, Tokyo – 1530064, Japan |
||||||||||||||||||
|
Date of Birth/Age : |
28.09.1960 |
||||||||||||||||||
|
Date of Appointment : |
25.07.2013 |
||||||||||||||||||
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DIN No.: |
02183976 |
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|||||||||||||||||||
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|
||||||||||||||||||
|
Name : |
Mr. Makoto Sasaki |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
705 Park Nova, Fujisaw A, 545-48, Fujisawas Hi-Tokyo, Japan 2510052 |
||||||||||||||||||
|
Date of Birth/Age : |
27.05.1967 |
||||||||||||||||||
|
Date of Appointment : |
10.07.2008 |
||||||||||||||||||
|
DIN No.: |
02184058 |
||||||||||||||||||
|
Name : |
Tsutomu Kido |
|
Designation : |
Director |
|
Address : |
1412-6, Himehaman, Toy Kagawa - 7691602 |
|
Date of Birth/Age : |
04.01.1965 |
|
Date of Appointment : |
15.04.2013 |
|
DIN No. : |
06555682 |
|
|
|
|
Name : |
Akifumi Yamauchi |
|
Designation : |
Director |
|
Address : |
Apartment No.601, Tower B1, Uniworld City, Sector – 31, Gurgaon –
122001, Haryana, India |
|
Date of Birth/Age : |
04.02.1965 |
|
Date of Appointment : |
15.04.2013 |
|
DIN No. : |
06555687 |
|
|
|
|
Name : |
Yoshihiro Miyabayashi |
|
Designation : |
Director |
|
Address : |
Apartmen Plaza, Residence Unit 35B, Jind Sudhirman, Kay Jakarta |
|
Date of Birth/Age : |
26.04.1955 |
|
Date of Appointment : |
25.07.2013 |
|
DIN No. : |
06646652 |
KEY EXECUTIVES
|
Name : |
Mr. Shalini Chawla |
|
Designation : |
Company Secretary |
|
Address : |
House No. 599, Sector-14, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
24.10.1985 |
|
Date of Appointment : |
11.05.2009 |
|
PAN No: |
AKCPC5589J |
|
Name : |
Mr. Kailash Chaudhari |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Unicharm Corporation, Japan |
50259999 |
|
Yukihiro Kimura |
1 |
|
TOTAL |
50260000 |
AS ON 24.01.2014
|
Name of Allottes |
No. of Shares |
|
Unicharm Corporation, Japan |
77,70,000 |
|
|
|
|
TOTAL |
77,70,000 |
AS ON 26.02.2014
|
Name of Allottes |
No. of Shares |
|
Unicharm Corporation, Japan |
19,00,000 |
|
|
|
|
TOTAL |
19,00,000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
engaged in the business of manufacturing and trading of disposable personal
hygiene products. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
*
Installed Capacity |
Actual
Production |
|
|
|
|
|
|
Baby Diapers |
Qty (Carton) |
6570000 |
283108 |
* Installed capacity is as certified by the management and relied
upon by the auditor, being a technical matter
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
ICICI Bank, Gurgaon, Haryana, India
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building No.8, 7th Floor and 8th Floor Tower B,
DLF Cyber City, Gurgaon – 122002, Haryana, India |
|
PAN.: |
AAFFP3698A |
|
|
|
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Holding Company : |
Unicharm Corporation - Japan |
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Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs.
8000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 7193.000
Millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
Rs.100/- each |
Rs. 8000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50260000 |
Equity Shares |
Rs.100/-
each |
Rs. 5026.000
Millions |
|
|
|
|
|
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 |
5,026.000 |
3,385.000 |
2,000.000 |
|
(b) Reserves & Surplus |
(2,741.917) |
(1,632.117) |
(759.968) |
|
(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) |
2,284.083 |
1,752.883 |
1,240.032 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2,153.368 |
2,219.550 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
118.940 |
54.590 |
20.757 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.671 |
3.219 |
1.864 |
|
Total
Non-current Liabilities (3) |
2,280.979 |
2,277.359 |
22.621 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
519.098 |
183.035 |
515.019 |
|
(c) Other current liabilities |
762.501 |
211.491 |
41.533 |
|
(d) Short-term provisions |
0.096 |
0.070 |
0.071 |
|
Total
Current Liabilities (4) |
1,281.695 |
394.596 |
556.623 |
|
|
|
|
|
|
TOTAL |
5,846.757 |
4,424.838 |
1,819.276 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3,426.742 |
1,817.481 |
914.483 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
233.076 |
253.572 |
349.387 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
227.143 |
206.064 |
46.686 |
|
(e) Other Non-current assets |
14.315 |
14.300 |
9.165 |
|
Total
Non-Current Assets |
3,901.276 |
2,291.417 |
1,319.721 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
598.913 |
436.548 |
190.379 |
|
(c) Trade receivables |
54.707 |
45.154 |
4.579 |
|
(d) Cash and cash equivalents |
1,261.519 |
1,638.496 |
273.010 |
|
(e) Short-term loans and
advances |
27.476 |
10.718 |
6.782 |
|
(f) Other current assets |
2.866 |
2.505 |
24.805 |
|
Total
Current Assets |
1,945.481 |
2,133.421 |
499.555 |
|
|
|
|
|
|
TOTAL |
5,846.757 |
4,424.838 |
1,819.276 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
2057.564 |
1346.593 |
552.628 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(1109.799) |
(872.149) |
(514.505) |
|
|
|
|
|
|
|
|
|
|
Earnings (Loss) Per
Share (Rs.) |
(28.25) |
(34.80) |
(34.21) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.94 |
1.26 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
5.41 |
0.90 |
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 |
2,000.000 |
3,385.000 |
5,026.000 |
|
Reserves & Surplus |
(759.968) |
(1,632.117) |
(2,741.917) |
|
Net
worth |
1,240.032 |
1,752.883 |
2,284.083 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
2,219.550 |
2,153.368 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
2,219.550 |
2,153.368 |
|
Debt/Equity
ratio |
0.000 |
1.266 |
0.943 |
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) |
|
Turnover |
552.628 |
1346.593 |
2057.564 |
|
|
|
143.671 |
52.798 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
552.628 |
1346.593 |
2057.564 |
|
Profit/Loss After Tax |
(514.505) |
(872.149) |
(1109.799) |
|
|
(93.10%) |
(64.77%) |
(53.94%) |
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
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 402 D and E 4th Floor, Centrum Plaza
Building, Golf Course Road, Sector - 53, Gurgaon-122002, Haryana, India to
the present address w.e.f.15.11.2010.
- No Charges
Exist for Company.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other external commercial borrowings |
2153.368 |
2219.550 |
|
|
|
|
|
Total |
2153.368 |
2219.550 |
|
|
|
|
|
Note : Terms of
repayment of long-term loans and other long-term loans (i) External Commercial
Borrowing (ECB) of USD 20,000,000 (March 31, 2012 : USD 20,000,000) from
Unicharm Corporation, Japan taken on April 5, 201: Repayable in 8 equal half
yearly installment of USD 2,500,000 each beginning from October 2012 along
with interest of 6M LIBOR + 0.5% (ii) External Commercial Borrowing (ECB) of
USD 9,000,000 (March 31, 2012 : USD 9,000,000) from Unicharm Corporation,
Japan taken on December 27, 2011: Repayable in 16 equal half yearly
installment of USD 562,500 each beginning from June 2013 along with interest
of 6M LIBOR + 0.5% (iii) External Commercial Borrowing (ECB) of USD
17,000,000 (March 31, 2012 : USD 17,000,000) from Unicharm Corporation, Japan
taken on December 27, 2011: Repayable in 16 equal half yearly installment of
USD 1,062,500 each beginning from June 2013. along with interest of 6M LIBOR
+ 0.5% (iv) External Commercial Borrowing (ECB) of USD 4,100,000 (March
31,2012 : Nil) from Unicharm Corporation, Japan taken on March 15, 2013:
Repayable in 16 equal half yearly installment of USD 256,250 each beginning
from Sep 2014 along with interest of 6M LIBOR + 0.5%. |
||
FINANCIAL RESULTS AND WORKING OF THE COMPANYs
Turnover: -
2057.564 Millions
As this is the Fourth
year of its incorporation and company started selling their products in India
from 1st April 2009.
Net Loss during
the Year: - (1109.799 Millions)
Basic Earnings per
share (Rs.) :- (28.25)
During the period
under review, the company has incurred a loss of Rs. (1109.799 Millions) only
because the Company was in Fifth year of its incorporation and started their
business of BABY DIAPERS in India. The Company has incurring lots of expenses
on selling and distribution and on advertisement, display and brand building of
Company products.
New Product
Promotions are:- Sanitary Napkin with the brand name of Sofy sidewalls and body
fit Unicharm Covers almost all the major cities of India for selling their
products and all the directors, key managerial persons and management are
hopeful of getting better results in the coming years.
FIXED ASSETS
- Leasehold Land
- Office Equipments
- Computer
- Vehicles
- Furniture and Fittings
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.00 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.