MIRA INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
FEDBANK FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.04.1995 |
|
|
|
|
Com. Reg. No.: |
09-008910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1900.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910KL1995PLC008910 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Providing Gold Loan, Loan Against Property, Home
Loan, Car Loan. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject operates as a subsidiary of Federal Bank Limited. It is well
established company having fine track record. Company has incurred loss from its operational activities during
financial year 2014. However, the rating takes into consideration financial and managerial
support that company receives from its parent and decent capital base of the
company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong parent support, the company can be considered good
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities – Working Capital Limits = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
July 08, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative
Contact No.: 91-22-26535112
LOCATIONS
|
Registered Office : |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala, India |
|
Tel. No.: |
91-22-42930700 / 26535112 / 42930799 |
|
Fax No.: |
91-22-26524144 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C-6, Laxmi Tower, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-42930799 |
|
Email : |
|
|
|
|
|
Branch : |
The subject has 163 gold loan branches Located at:
|
DIRECTORS
AS ON: 15.07.2014
|
Name : |
Mr. Suresh Muthukrishna Kumar |
|
Designation : |
Director |
|
Address : |
H. H. SH. Hamadan Bin Rashid Villa, 352/26B, Jumeirah Area, N R Arenco
Villas, Villa-05(76), Dubai, UAE |
|
Date of Birth/Age : |
08.07.1950 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00494479 |
|
|
|
|
Name : |
Mr. Mohammad Yousuf Khan |
|
Designation : |
Director |
|
Address : |
S-378, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
24.06.1944 |
|
Date of Appointment : |
13.09.2010 |
|
Date of cessation : |
09.09.2014 |
|
DIN No.: |
00570339 |
|
|
|
|
Name : |
Mr. Shyam Srinivasan |
|
Designation : |
Director |
|
Address : |
101, Nagarjuna Apartments, 36 Ram N St. T Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
02.02.1962 |
|
Date of Appointment : |
03.08.2011 |
|
DIN No.: |
02274773 |
|
|
|
|
Name : |
Mr. Sudhir Joshi |
|
Designation : |
Director |
|
Address : |
1705, Tower A, Dosti Elite, Near Sion, Telephone Exchange, Sion,
Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
27.02.1947 |
|
Date of Appointment : |
04.06.2013 |
|
Date of Cessation : |
14.01.2014 |
|
DIN No.: |
00349597 |
|
|
|
|
Name : |
Prof. Abraham Koshy |
|
Designation : |
Director |
|
Address : |
House – 409, Indian Institute of Management, Vastrapur – 380015,
Gujarat, India |
|
Date of Birth/Age : |
18.01.1953 |
|
Date of Appointment : |
04.06.2013 |
|
DIN No.: |
00471385 |
|
Name : |
Dilip Gena Sadarangani |
|
Designation : |
Nominee director |
|
Address : |
901, Sonrisa, L N Road, Opposite Ruia Collage, Behind Indian Oil Petrol
Pump, Matunga, Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1949 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No. : |
06610897 |
|
|
|
|
Name : |
Mahadev Nagendra Rao |
|
Designation : |
Director |
|
Address : |
7th Floor, B Cross, SFS New Town, Yelahanka, Bangalore– 560064,
Karnataka, India |
|
Date of Birth/Age : |
17.08.1952 |
|
Date of Appointment : |
15.07.2014 |
|
DIN No. : |
01296161 |
KEY EXECUTIVES
|
Name : |
Mr. Dilip Kr Radheshyam Maloo |
|
Designation : |
Secretary |
|
Address : |
C-106, Gayatri Shivam Co-operative Housing Society Limited, 90 Feet
Road, Near Sai Hospital, Thakur Complex, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1980 |
|
Date of Appointment : |
13.05.2010 |
|
PAN No.: |
AKHPM9725B |
|
|
|
|
Name : |
Mr. Pradosh Kumar Radhamohan Mohapatra |
|
Designation : |
Manager |
|
Address : |
41, Aishwarya Towers, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1955 |
|
Experience : |
01.10.2011 |
|
Date of Cessation : |
10.03.2013 |
|
PAN No.: |
AENPM6545B |
|
|
|
|
Name : |
Ashok Jagannath Das |
|
Designation : |
Manager |
|
Address : |
Flat No.1, Shivtirth Co-Operative Housing Society Limited, Madhukar Kalekar
Road, Bandra, Mumbai – 400051, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1956 |
|
Date of Appointment : |
01/10/2013 |
|
PAN No.: |
AACPD4167F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 15.07.2014
|
Names of Shareholders |
No. of Shares |
|
The Federal Bank Limited, India |
189500000 |
|
The Federal Bank Limited, India |
499595 |
|
Ganapathy Kumar Girish Jointly with The Federal Bank Limited, India |
1 |
|
Surendren A Jointly with The Federal Bank Limited, India |
100 |
|
Mohanachandran K R Jointly with The Federal Bank Limited, India |
100 |
|
Srinivasan Tirunelvelu Shyam Jointly with The Federal Bank Limited,
India |
200 |
|
Varghese I K Jointly with The Federal Bank Limited, India |
1 |
|
D Sampath Jointly with The Federal Bank Limited, India |
1 |
|
Ashuthosh Khajuria Jointly with The Federal Bank Limited, India |
1 |
|
Abraham Chacko Jointly with The Federal Bank Limited, India |
1 |
|
|
|
|
Total |
190000000 |
AS ON: 15.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalised or other banks |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Providing Gold Loan, Loan Against Property, Home
Loan, Car Loan. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||
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Facilities : |
NOTE: The above facilities are secured by way of hypothecation on Gold Loan
Receivables. Short term loans has been availed from HDFC bank for a period of 180
days by way of Ear-marketing of working capital loans. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
303, Gokul Regency, J. B. Nagar, Andheri-East, Mumbai – 400059,
Maharashtra, India |
|
PAN No. : |
AABFV9555E |
|
|
|
|
Holding Company : |
The Federal Bank Limited CIN No.:
L65191KL1931PLC000368 |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1900.000 |
1900.000 |
1900.000 |
|
(b) Reserves & Surplus |
(6.183) |
22.940 |
(35.653) |
|
(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) |
1893.817 |
1922.940 |
1864.347 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.782 |
2.525 |
1.217 |
|
Total Non-current
Liabilities (3) |
3.782 |
2.525 |
1.217 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1635.103 |
2800.245 |
1596.039 |
|
(b) Trade payables |
38.393 |
47.159 |
26.892 |
|
(c) Other current
liabilities |
207.743 |
44.566 |
55.737 |
|
(d) Short-term
provisions |
27.410 |
117.623 |
26.678 |
|
Total Current
Liabilities (4) |
1908.649 |
3009.593 |
1705.346 |
|
|
|
|
|
|
TOTAL |
3806.248 |
4935.058 |
3570.910 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
96.626 |
124.950 |
106.900 |
|
(ii) Intangible Assets |
18.417 |
21.101 |
2.051 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
24.508 |
|
(iv)
Intangible assets under development |
0.000 |
2.739 |
12.510 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
14.629 |
11.887 |
0.000 |
|
(d) Long-term Loan and Advances |
1102.920 |
88.296 |
56.561 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1232.592 |
248.973 |
202.530 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
6.096 |
7.982 |
10.734 |
|
(d) Cash and cash
equivalents |
70.422 |
106.351 |
82.130 |
|
(e) Short-term loans
and advances |
2495.415 |
4567.869 |
3267.568 |
|
(f) Other current
assets |
1.723 |
3.883 |
7.948 |
|
Total Current Assets |
2573.656 |
4686.085 |
3368.380 |
|
|
|
|
|
|
TOTAL |
3806.248 |
4935.058 |
3570.910 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
686.092 |
881.448 |
375.799 |
|
|
Other Income |
4.182 |
3.353 |
1.091 |
|
|
TOTAL (A) |
690.274 |
884.801 |
376.890 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
238.866 |
212.379 |
155.957 |
|
|
Other expense |
284.608 |
234.859 |
170.260 |
|
|
TOTAL (B) |
523.474 |
447.238 |
326.217 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
166.800 |
437.563 |
50.673 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
157.385 |
217.877 |
102.776 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
9.415 |
219.686 |
-52.103 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.280 |
37.608 |
20.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(31.865) |
182.078 |
(72.893) |
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.742) |
40.898 |
0.853 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(29.123) |
141.180 |
(73.746) |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
28.200 |
NA |
|
|
Dividend |
0.000 |
70.600 |
NA |
|
|
Tax on Dividend |
0.000 |
12.000 |
NA |
|
|
BALANCE
CARRIED TO THE B/S |
NA |
(15.200) |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.15) |
0.74 |
(1.12) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(4.22) |
15.96 |
(19.57) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.64) |
20.66 |
(19.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.84) |
3.70 |
(2.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
0.09 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
1.46 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.56 |
1.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
1900.000 |
1900.000 |
1900.000 |
|
Reserves & Surplus |
(35.653) |
22.940 |
(6.183) |
|
Net worth |
1864.347 |
1922.940 |
1893.817 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1596.039 |
2800.245 |
1635.103 |
|
Total borrowings |
1596.039 |
2800.245 |
1635.103 |
|
Debt/Equity ratio |
0.856 |
1.456 |
0.863 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
375.799 |
881.448 |
686.092 |
|
|
|
134.553 |
(22.163) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
375.799 |
881.448 |
686.092 |
|
Profit |
(73.746) |
141.180 |
(29.123) |
|
|
(19.62%) |
16.02% |
(4.24%) |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM BORROWING : NOT AVAILABLE
|
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/ Two years |
Yes |
|
12] |
Profitability for last three/ Two 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) |
No |
|
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 |
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 |
Yes |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10511975 |
16/07/2014 |
250,000,000.00 |
THE KARUR VYSYA BANK
LIMITED |
229 NEW COMMON WEALTH
CHS, LINKING ROAD OPP SHOPP |
C14419089 |
|
2 |
10389807 |
20/11/2012 |
250,000,000.00 |
THE KARUR VYSYA BANK
LIMITED |
CENTRAL LOAN PROCESSING
CELL MUMBAI,, KAMANWALA C |
B63267512 |
|
3 |
10349100 |
29/03/2012 |
500,000,000.00 |
IDBI BANK LIMITED |
224 A MITTAL COURT , A
WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B37382561 |
|
4 |
10290646 |
07/09/2013 * |
2,000,000,000.00 |
THE FEDERAL BANK LTD |
FEDERAL TOWERSP B NO 103,
ALWAYE, ERANAKULAM, KERALA - 683101, INDIA |
B85936615 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Disputed Income Tax |
9.071 |
0.000 |
|
|
|
|
|
Total |
9.071 |
0.000 |
FIXED ASSETS:
TANGIBLE ASSETS
- Leasehold Improvement
- Furniture and Fixture
- Vehicles – Cars
- Office Equipment
- Computers
INTANGIBLE ASSETS
- 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.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.