MIRA INFORM REPORT
|
Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAGARRO SOFTWARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
19/20, East Punjabi Bagh, New Delhi – 110026 |
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Country : |
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|
Financials (as
on) : |
31.12.2012 |
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|
|
|
Date of
Incorporation : |
15.01.1996 |
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|
|
|
Com. Reg. No.: |
55-075453 |
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Capital
Investment / Paid-up Capital : |
Rs.0.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900DL1996PTC075453 |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCN5039J |
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|
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
They are into Software Development. |
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|
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|
No. of Employees
: |
1800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Nagarro INC, United States”. It is an
established company having fine track. The company possesses a favourable financial profile marked by
adequate networth base along with low gearing and strong debt protection
metrics, further characterized by increasing cash reserves and sufficient
assets during the year under review. Management has reported a better growth in its sales volume as well as
net profitability, while maintaining a healthy profit margin during FYE
December, 2012. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of strong support extended by the holding company, the subject
can be considered for business dealings 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 |
|
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. Ranjan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9873934553 |
|
Date : |
24.06.2014 |
LOCATIONS
|
Registered Office : |
19/20, East Punjabi Bagh, New Delhi – 110026, India |
|
Tel. No.: |
91-124-2450807/ 3048646 |
|
Mobile No.: |
91-9873934553 (Mr. Ranjan) 91-9811846951 (Mr. Harnam Singh – Finance Manager) |
|
Fax No.: |
91-124-2450832 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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Corporate Office : |
Plot No.36, Sector 18, Electronic City, Gurgaon – 122015, Haryana,
India |
DIRECTORS
(AS ON 05.06.2013)
|
Name : |
Mr. Sandeep Mehta |
|
Designation : |
Director |
|
Address : |
19/20, East Punjabi Bagh, Delhi – 110026, India |
|
Date of Birth/Age : |
12.09.1971 |
|
Date of Appointment : |
01.08.2001 |
|
DIN No.: |
00393459 |
|
|
|
|
Name : |
Mr. Manmohan Gupta |
|
Designation : |
Director |
|
Address : |
I-401, Lagoon Ambience Island, Gurgaon Haryana, India |
|
Date of Birth/Age : |
12.01.1971 |
|
Date of Appointment : |
12.07.2000 |
|
PAN No.: |
AAEPM6894N |
|
DIN No.: |
00421241 |
|
|
|
|
Name : |
Mr. Vikram Sehgal |
|
Designation : |
Director |
|
Address : |
Flat No.23, Hope Apartment, Sector 15, Part - II Gurgaon, Haryana,
India |
|
Date of Birth/Age : |
16.05.1971 |
|
Date of Appointment : |
12.07.2000 |
|
DIN No.: |
00835174 |
|
|
|
|
Name : |
Mr. Neeraj Chhibba |
|
Designation : |
Director |
|
Address : |
C-157, Pushpanjali enclave, Pitampura, Delhi – 110034, India |
|
Date of Birth/Age : |
19.11.1971 |
|
Date of Appointment : |
31.08.2012 |
|
Pan No.: |
ACZPC7924J |
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DIN No.: |
05301639 |
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|
|
|
Name : |
Mr. Ashok Kollannore Thomas |
|
Designation : |
Director |
|
Address : |
C-303, Hind Apt., Plot No.12, Sector – 5, Dwarka, New Delhi – 110075,
India |
|
Date of Birth/Age : |
28.01.1973 |
|
Date of Appointment : |
11.01.2014 |
|
DIN No.: |
05301622 |
KEY EXECUTIVES
|
Name : |
Mr. Ranjan |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Harnam Singh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 05.06.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Nagarro Inc, USA |
|
19600 |
|
Savitri Fuloria |
|
100 |
|
Priyadarshani Jadhav |
|
100 |
|
Vikram Sehgal |
|
200 |
|
|
|
|
|
Total |
|
20000 |
(AS ON 05.06.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
98.00 |
|
Directors or relatives of directors |
|
1.00 |
|
Other top fifty shareholders |
|
1.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They are into Software Development. |
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Products : |
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Exports : |
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Products : |
Software |
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Countries : |
USA |
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Imports : |
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Products : |
Computer Parts |
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Countries : |
· Singapore · China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Tata Communications |
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Customers : |
· Lufthansa Airline |
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No. of Employees : |
1800 (Approximately) |
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Bankers : |
· ICICI Bank, Gurgaon Branch · Yes Bank, Manesas Branch ·
Small Industries Development Bank of India Udyog Minar Vanijya Nikunj, Udyog Vihar, Phase-V, Gurgaon – 122016, Haryana, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P.S. Kanodia and Company Chartered Accountants |
|
Address : |
LG-105,
Ansal Fortune Arcade, Sector-18, Noida – 201301, Uttar Pradesh, India |
|
PAN No.: |
AAGFP0145F |
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Holding Company : |
· Nagarro Inc, USA |
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Fellow Subsidiary : |
· Nagarro Software Gmbh, Germany ·
Nagarro S. A., Mexico ·
Nagarro Software AB, Sweden |
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Subsidiary : |
· Nagarro Software (Jaipur) Private Limited, India |
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|
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|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Hundred Percentile Education Private Limited, India |
CAPITAL STRUCTURE
(AS ON 05.06.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200
Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2012 |
31.12.2011 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
0.200 |
0.200 |
0.200 |
|
(b) Reserves & Surplus |
625.301 |
455.267 |
387.903 |
|
(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) |
625.501 |
455.467 |
388.103 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
47.282 |
12.111 |
2.571 |
|
(d) long-term provisions |
25.107 |
25.000 |
13.641 |
|
Total Non-current
Liabilities (3) |
72.389 |
37.111 |
16.212 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
19.248 |
20.206 |
15.062 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
70.893 |
31.347 |
19.622 |
|
(d) Short-term
provisions |
124.768 |
98.902 |
31.111 |
|
Total Current
Liabilities (4) |
214.909 |
150.455 |
65.795 |
|
|
|
|
|
|
TOTAL |
912.799 |
643.033 |
470.110 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
131.761 |
43.906 |
28.276 |
|
(ii)
Intangible Assets |
24.394 |
16.600 |
3.503 |
|
(iii)
Capital work-in-progress |
0.000 |
0.284 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
38.500 |
1.000 |
1.000 |
|
(c) Deferred tax assets (net) |
30.485 |
23.686 |
5.220 |
|
(d) Long-term Loan and Advances |
103.560 |
125.036 |
68.848 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.120 |
|
Total Non-Current
Assets |
328.700 |
210.512 |
106.967 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
367.636 |
308.895 |
244.635 |
|
(d) Cash
and cash equivalents |
145.215 |
53.138 |
30.229 |
|
(e)
Short-term loans and advances |
71.248 |
70.488 |
88.279 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
584.099 |
432.521 |
363.143 |
|
|
|
|
|
|
TOTAL |
912.799 |
643.033 |
470.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1271.963 |
829.121 |
680.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
970.218 |
714.607 |
561.280 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
301.745 |
114.514 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.935 |
1.219 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
294.810 |
113.295 |
(Including
Financial Expenses and Depreciation) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
43.321 |
6.310 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEM, EXTRAORDINARY ITEM & TAX |
251.489 |
106.985 |
119.277 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY
ITEMS |
0.000 |
0.000 |
4.833 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEM |
7.495 |
3.990 |
1.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
243.994 |
102.995 |
112.856 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
74.735 |
36.056 |
24.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
169.259 |
66.939 |
88.750 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
5000.000 |
3000.000 |
The above information has been parted by Mr. Ranjan.
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.03.2011 |
|
PAT / Total Income |
(%) |
13.31 |
8.07 |
13.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.92 |
16.66 |
24.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.23 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.04 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.72 |
2.87 |
5.52 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.12.2011 |
31.12.2012 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
0.200 |
0.200 |
0.200 |
|
Reserves & Surplus |
387.903 |
455.267 |
625.301 |
|
Net worth |
388.103 |
455.467 |
625.501 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
15.062 |
20.206 |
19.248 |
|
Total borrowings |
15.062 |
20.206 |
19.248 |
|
Debt/Equity ratio |
0.039 |
0.044 |
0.031 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.12.2011 |
31.12.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
680.557 |
829.121 |
1,271.963 |
|
|
|
21.830 |
53.411 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.12.2011 |
31.12.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
680.557 |
829.121 |
1,271.963 |
|
Profit |
88.750 |
66.939 |
169.259 |
|
|
13.04% |
8.07% |
13.31% |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last Five 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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
COMPANY PERFORMANCE
The Gross income for the year
2012 has increased to Rs.1271.963 Millions from Rs.829.121 Millions in the
previous year, at a growth rate of 53.41%. The software export revenues
aggregated to Rs.1183.179 Millions up by 52.88% from Rs.773.901 Millions in the
last year. The operating profit (PBIDTA) amounting to Rs.301.744 Millions
(23.72 percentage of revenue) as against Rs.114.515 Millions (13.81 percentage
of revenue) in the previous year. Profit after tax (PAT) for the year at
Rs.169.259 Millions was higher by 152.86% over last year (Rs.66.939 Millions in
2011).
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10123937 |
06/10/2008 |
40,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
UDYOG MINAR VANIJYA
NIKUNJ, UDYOG VIHAR, PHASE-V, GURGAON, HARYANA - 122016, INDIA |
A47088885 |
|
2 |
10109889 |
22/05/2008 * |
20,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, - 400018,
MAHARASHTRA INDIA |
A41733742 |
|
3 |
10076415 |
05/10/2007 |
25,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA
- 400018, INDIA |
A27002690 |
|
4 |
10005759 |
22/05/2006 |
536,472.00 |
ICICI BANK LTD |
LANDMARK RACE COURSE
CIRCLE, VADODARA, GUJARAT -390007, INDIA |
A00999334 |
|
5 |
90055175 |
23/01/2004 |
1,242,745.00 |
I.C.I.C.I. BANK LTD. |
BANK TOWER, MUMBAI,
MAHARASHTRA, INDIA |
- |
|
6 |
90054781 |
16/01/2003 |
4,500,000.00 |
PUNAJB NATIONAL BANK |
PUNJABI BAGH, NEW DELHI,
INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Office Building
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer
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 records 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.60.28 |
|
|
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
51 |
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.