MIRA
INFORM REPORT
|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
STAR INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
STAR INDIA LIMITED (w.e.f. 07.02.2001) NEWS TELEVISION (INDIA) LIMITED NEWS TELEVISION (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Star House, Urmi Estate, 95 Ganpatrao Kadam Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.02.1994 |
|
|
|
|
Com. Reg. No.: |
11-076485 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2372.710 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72300MH1994PTC076485 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1335Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of television broadcasting. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 117200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a fine track record. Financial position of the company seems to be decent. Trade relation are reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitments. The company can be considered for normal 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.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-61731005)
LOCATIONS
|
Registered Office : |
Star House, Urmi Estate, 95 Ganpatrao Kadam Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66305555 |
|
Fax No.: |
91-22-66305050 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Located at : |
Located at · Gurgaon Bangalore Kolkata Ahmedabad Chennai Kanpur Chandigarh Delhi Jaipur |
DIRECTORS
As on 18.09.2013
|
Name : |
Mr. Rishi Kanwarjeet Gaind |
|
Designation : |
Director |
|
Address : |
31/802, NRI Complex, Seawoods Estate, Sector 54-56-58, Nerul, Navi Mumbai
- 400706, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1975 |
|
Date of Appointment : |
04.11.2009 |
|
PAN No.: |
ABMPG9454H |
|
DIN No.: |
01874494 |
|
|
|
|
Name : |
Ms. Amita Maheshwari |
|
Designation : |
Director |
|
Address : |
208, 2nd Floor, Sea Flama, B-Block, Dosti Flamingo, Sewri,
Mumbai - 400015, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1968 |
|
Date of Appointment : |
26.04.2012 |
|
DIN No.: |
02891889 |
KEY EXECUTIVES
|
Name : |
Ms. Ujwala Padmakar Wakhle |
|
Designation : |
Secretary |
|
Address : |
Flat No.504, Dosti Tulip, Dosti Acres, S M Road, Wadala (East),
Mumbai-400037, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1971 |
|
Date of Appointment : |
01.11.2001 |
|
PAN No.: |
AAHPW4240R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Buzzer Investments Limited, Mauritius |
121114839 |
51.05 |
|
Quazar Investments (Mauritius) Limited, Mauritius |
86230 |
0.04 |
|
Star Entertainment Holdings Limited (Formerly known as Xing Kong Chuan
Mei Group Company Limited), British Virgin Island |
93530934 |
39.42 |
|
Startv.Com Holding Limited, Bermuda |
15794232 |
6.66 |
|
Star Television Technical Services Limited, British Virgin Island |
6744268 |
2.84 |
|
Total |
237270503 |
100.00 |
As on 18.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of television broadcasting. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates LLP Chartered Accountant |
|
Address : |
12th Floor, the Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharasthra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Holding Company: |
Buzzer Investments Limited, Mauritius |
|
|
|
|
Ultimate Holding
Company: |
News Corporation |
|
|
|
|
Intermediate
Holding Company: |
· Star Group Limited Star Entertainment Holding Limited Star Television Technical Services Limited STARTV.com Holding Limited Quazar Investments (Mauritius) Limited |
|
|
|
|
Subsidiaries: |
· Indya Interactive Services Private Limited CIN No.: U64202MH2000PTC242292 Precision Components Private Limited CIN No.: U74210MH1959PTC011459 |
|
|
|
|
Joint Venture: |
Star Den Media Services Private Limited |
|
|
|
|
Fellow
Subsidiaries: |
· Asianet Communications Limited CIN No.: U90001MH1991PLC178157 Channel V Music Networks Limited Partnership Dow Jones Consulting India Private Limited CIN No.: U74140MH2004PTC146563 ESPN Software India Private Limited (effective from 08th
Nov 2012) CIN No.: U74899MH1995PTC244794 ESPN Star Sports (effective from 08th Nov 2012) Fortune Star Media Limited Fox Channels Middle East FZ LLC Fox International Channel (Japan) Inc Fox International Channels (US) Inc Fox International Channels Australia PTY Limited Fox Star Studios (India) Private Limited CIN No.: U92490MH2006PTC165060 Fox Channels (India) Private Limited CIN No.: U92490MH2006PTC164697 Fox Sports Australia PTY Limited IGN International BV Nationwide News PTY Limited News America Incorporated News Corp Star US LLC NGC International UK Limited NGC Network (India) Private Limited CIN No.: U74300MH2000PTC127390 NGC Network Asia LLC NGC Networks Middle East FZ LLC Satellite Television Asian Region Limited Star Advertisement Sales Limited Star Entertainment Media Private Limited CIN No.: U92490MH2006PTC159789 Star International Movies Limited Star Middle East FZ LLC Twentieth Century Fox International Twentieth Century Fox International Television Inc Twentieth Century Fox Telecommunications International Inc Vijay Television Private Limited Wall Street Journal India Private Limited |
|
|
·
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
331,090,503 |
Equity Shares |
Rs.10/- each |
Rs. 3310.910 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
237,270,503 |
Equity Shares |
Rs.10/- each |
Rs. 2372.710 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 |
2372.710 |
2195.010 |
2195.010 |
|
(b) Reserves & Surplus |
26918.560 |
18271.820 |
14371.230 |
|
(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) |
29291.270 |
20466.830 |
16566.240 |
|
|
|
|
|
|
(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 |
0.000 |
314.920 |
828.130 |
|
(d) long-term provisions |
41.950 |
49.630 |
44.250 |
|
Total Non-current Liabilities (3) |
41.950 |
364.550 |
872.380 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6361.100 |
8176.940 |
7538.910 |
|
(c) Other current
liabilities |
1243.230 |
1231.240 |
1891.230 |
|
(d) Short-term provisions |
176.140 |
129.980 |
100.550 |
|
Total Current Liabilities (4) |
7780.470 |
9538.160 |
9530.690 |
|
|
|
|
|
|
TOTAL |
37113.690 |
30369.540 |
26969.310 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
258.370 |
258.170 |
227.960 |
|
(ii) Intangible Assets |
1530.300 |
1790.960 |
1732.140 |
|
(iii) Capital
work-in-progress |
878.020 |
80.630 |
31.220 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
672.630 |
672.630 |
780.650 |
|
(c) Deferred tax assets (net) |
210.660 |
73.590 |
256.160 |
|
(d) Long-term Loan and Advances |
4905.830 |
5140.410 |
5163.010 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
8455.810 |
8016.390 |
8191.140 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
10818.690 |
8451.330 |
6248.690 |
|
(c) Trade receivables |
11383.230 |
7676.330 |
7485.720 |
|
(d) Cash and cash
equivalents |
3603.730 |
3476.910 |
2016.190 |
|
(e) Short-term loans and
advances |
2208.870 |
2392.380 |
2984.210 |
|
(f) Other current assets |
643.360 |
356.200 |
43.360 |
|
Total Current Assets |
28657.880 |
22353.150 |
18778.170 |
|
|
|
|
|
|
TOTAL |
37113.690 |
30369.540 |
26969.310 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
38753.930 |
27020.410 |
23453.040 |
|
|
|
Other Income |
2002.310 |
973.320 |
779.060 |
|
|
|
TOTAL |
40756.240 |
27993.730 |
24232.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenditure |
3051.030 |
|
|
|
|
|
Operating Expenses |
32721.780 |
19520.430 |
|
|
|
|
TOTAL |
35772.810 |
21916.280 |
19919.790 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4983.430 |
6077.450 |
4312.310 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1489.990 |
2092.570 |
1422.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3493.440 |
3984.880 |
2889.890 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5016.770 |
2548.270 |
3690.620 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital goods |
NA |
NA |
1862.350 |
|
|
|
Programmes / Films procured |
NA |
NA |
900.960 |
|
|
TOTAL IMPORTS |
NA |
NA |
49.640 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
14.72 |
18.15 |
13.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.57 |
14.23 |
11.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.86 |
22.49 |
18.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.10 |
20.57 |
0.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.30 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.68 |
2.34 |
1.97 |
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 |
2195.010 |
2195.010 |
2372.710 |
|
Reserves & Surplus |
14371.230 |
18271.820 |
26918.560 |
|
Net
worth |
16566.240 |
20466.830 |
29291.270 |
|
|
|
|
|
|
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 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
23453.040 |
27020.410 |
38753.930 |
|
|
|
15.211 |
43.425 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
23453.040 |
27020.410 |
38753.930 |
|
Profit |
2889.890 |
3984.880 |
3493.440 |
|
|
12.32% |
14.75% |
9.01% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CORPORATE INFORMATION
The Company was incorporated in India on February 8, 1994. The Company is principally engaged in the business of television broadcasting.
BUSINESS
OPERATIONS
During the year, the Company rebranded its channels viz. (a) Fox Action Movies to STAR Movies Action and (b) Star One (South East Asia) to STAR Plus (South East Asia). Also, the Company has launched following channels viz.
(a) Jalsha Movies
(b) Life OK HD
(c) Fx
(d) Fox Crime
AMALGAMATION
a) In the previous year, the Hon'ble Bombay High Court had approved the Scheme of Amalgamation (Appointed Date April 1, 2011) for merger of PPV Movies and Content Private Limited (PMPCL), Digiwave Infrastructure and Services Private Limited (DISPL), Touch Tele Content (India) Private Limited (TTCPL), Live Wire Programme Trading Company Private Limited (LPTCPL) and Star Premium Entertainment Network Private Limited (SPENPL) (collectively referred to as Amalgamating Companies) in to the Company (or the 'amalgamated company') as per section 391 to 394 of the Companies Act, 1956 (collectively referred to as Scheme of Amalgamation). The Amalgamation has been accounted as per Pooling of Interest Method prescribed in Accounting Standard-14 Accounting for Amalgamations (AS-14), issued by The Institute of Chartered Accountants of India (ICAI).
b) In accordance with the Scheme:
(i) Net Debit balance of profit or loss account aggregating to Rs 873.970 million, as appearing in the books of Amalgamating Companies immediately preceding the Appointed Date, has been adjusted against the opening balance of accumulated profit and loss account of the Company to the extent of Rs 543.800 million and balance of Rs 330.170 million has been adjusted to the Capital Reserve.
(ii) The difference between the value of the assets over the value of the liabilities, including reserves, of the Amalgamating companies transferred to the Company pursuant to the Scheme of Amalgamation after adjusting the book value of the investment in the shares of the Amalgamating companies has been adjusted in the Capital Reserve (Rs 789.680 million).
(iii) The authorized share capital of all the amalgamating companies stands merged with the Company and thus authorised share capital stands increased to Rs 3210.910 Million consisting of 321090503 equity shares of Rs 10 each, as at April 1, 2011.
FIXED ASSETS
Tangible Assets
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Leasehold
Improvements
Intangible Assets
Brands
and Trade Marks
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.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.