MIRA
INFORM REPORT
|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADIDAS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 6, 2nd Floor, Sector B, Pocket No. 7, Plot no. 11, Vasant
Kunj, New Delhi – 110070 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.02.1996 |
|
|
|
|
Com. Reg. No.: |
55-076591 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4630.507 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19201DL1996PTC076591 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributes and markets sports footwear, sports wear, and
sports equipments. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of reputed “ADIDAS Group”. It is an
established company having moderate track. Management has been found to be non-co-operative in parting any details of the company to us. As per latest financial statement of FY13, it seems the management has not commenced any business activity after the occurrences of alleged accounting scandals by the top line management. Moreover, the company has reported a decent capital base and is gently
working upon the management restructuring process and franchisee models. The ratings also take into consideration the reputation and quality of
the sportswear brand and its presence in almost all of the concern of the
universe. Hence, payment terms are unknown. The company can be considered for business dealings on a safe and
secured 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period with
an annualized return of 20 % ! Equities came in second with annualized return
of 15.5 % ! However, while these returns may seem mouthwatering, the fact is
that the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-124-4569100)
LOCATIONS
|
Registered Office : |
Office No. 6, 2nd Floor, Sector B, Pocket No. 7, Plot no. 11, Vasant
Kunj, New Delhi – 110070, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ranabir Mitra |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
5-K-121, Ridgewood, Estate DLF Phase – IV, Gurgaon – 122002, Haryana,
India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.12.1963 |
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|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00713237 |
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|
Other Directorship:
|
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|
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|
Name : |
Mr. Andreas Johannes Richter |
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|
Designation : |
Director |
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|
Address : |
Martin Luther Street, 77, Neustadt A D Aisch 91413 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.03.1973 |
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|
Date of Appointment : |
30.06.2011 |
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|
DIN No.: |
03177320 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Erick David Haskell |
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|
Designation : |
Director |
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|
Address : |
Apartment No. 9/1, Ground Floor, Shanti Niketan, New Delhi – 110021,
India |
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|
Date of Birth/Age : |
08.06.1972 |
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|
Date of Appointment : |
19.11.2012 |
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DIN No.: |
06421553 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Tushar Pravin Goculdas |
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|
Designation : |
Alternate director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1700, B Beverly Park II, DLF Phase – II, Gurgaon – 122001, Haryana,
India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.12.1973 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.12.2013 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02466646 |
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|
Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Dinesh Jindal |
|
Designation : |
Secretary |
|
Address : |
1/14, Shalimar Bagh, Bhola Nath Nagar, Delhi – 110032, Indai |
|
Date of Birth/Age : |
19.06.1969 |
|
Date of Appointment : |
01.02.2008 |
|
PAN No.: |
AAIPJ3373K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Adidas AG, Germany |
49748173 |
10.74 |
|
Adidas International BV |
413302507 |
89.26 |
|
Total |
463050680 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributes and markets sports footwear, sports wear, and
sports equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building Number -10, 8th Floor, Tower - BDLF Cyber City, Phase-II |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB0630K |
|
|
|
|
Holding company: |
· Adidas International BV |
|
|
|
|
Ultimate Holding
company: |
· Adidas AG |
|
|
|
|
Subsidiary company: |
· Adidas India Marketing Private Limited, India [U74899DL1995PTC074855] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
475000000 |
Equity Shares |
Rs.10/- each |
Rs. 4750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
463050680 |
Equity Shares |
Rs.10/- each |
Rs. 4630.507
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 (12
Months) |
31.03.2012
(15
Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4630.507 |
4630.507 |
|
(b) Reserves & Surplus |
|
(20.985) |
(20.568) |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4609.522 |
4609.939 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
21.290 |
37.021 |
|
(c) Other current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
|
21.290 |
37.021 |
|
|
|
|
|
|
TOTAL |
|
4630.812 |
4646.960 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
4630.507 |
4630.507 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
4630.507 |
4630.507 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
|
0.305 |
0.305 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
0.000 |
16.148 |
|
Total
Current Assets |
|
0.305 |
16.453 |
|
|
|
|
|
|
TOTAL |
|
4630.812 |
4646.960 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
502.507 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(19.855) |
|
|
NETWORTH |
|
|
482.652 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
482.652 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
502.507 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.000
|
|
|
Cash & Bank Balances |
|
|
0.310
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
0.000
|
|
Total
Current Assets |
|
|
0.310
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
20.165
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
20.165
|
|
|
Net Current Assets |
|
|
(19.855)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
482.652 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 (12
Months) |
31.03.2012
(15 Months) |
31.12.2010 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
0.416 |
0.713 |
0.201 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(0.416) |
(0.713) |
(0.201) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(0.416) |
(0.713) |
(0.201) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(20.568) |
(19.855) |
(19.654) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(20.984) |
(20.568) |
(19.855) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.00 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (12
Months) |
31.03.2012
(15 Months) |
31.12.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(136.39) |
(4.33) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.01 |
0.44 |
0.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4630.507 |
4630.507 |
|
Reserves & Surplus |
(20.568 |
(20.985) |
|
Net
worth |
4609.939 |
4609.522 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE:
Registered office of the company has been shifted from C-2, Ansal Villa, Satbari, New Delhi – 110074, India to the present address w.e.f. 01.11.2013
PRESS RELEASES
ADIDAS OFFERS VRS TO 200 REEBOK INDIA STAFF
AUGUST 14, 2012
NEW DELHI: The Adidas Group has offered VRS to all 200 employees of Reebok India, the company at the heart of a Rs 8700.000 Millions accounting scandal, the foreign boss of Adidas' India arm said, while bemoaning the complex procedure of investigations in India.
He said the company filed a police complaint against two top former executives for financial irregularities in Reebok India but now find itself facing investigations from three different agencies - the Serious Fraud Investigation Organisation (SFIO), the Income Tax department and the Gurgaon police.
"My experiences with the investigating agencies are interesting. It is tiring....I feel under scrutiny,'' Adidas Group India CEO Claus Heckerott said breaking his silence, three months after the German company unearthed financial irregularities in Reebok India in May that resulted in the sacking of its CEO and CFO, and could result in a restatement of pre-tax income for the Adidas Group of upto 8700.000 Millions in 2011 and the preceding years. There will also a negative impact of up to 4870.000 Millions on the Adidas' operating profit in 2012.
He said it would have been better if the three agencies had investigated the matter one at a time, and not simultaneously. He said each one of them had a difference perspective because each of them looked at the case from different angles. The Income Tax department was looking at the tax implication of financial irregularities, while the SFIO was examining the case from an another angle.
Reebok India has named former CEO S S Prem and and CFO Vishnu Bhagat as the main culprits in the FIR lodged with the Gurgaon Police, a few months ago.
When asked why the break up of alleged financial irregularities given by the company to the SFIO differed from the break up filed in the police complaint, Heckerott said the company had mentioned in the police complaint that it would take a 'hit' of up to 8700.000 Millions.. On the issue of goodwill loss of 25 million euros, he said, "It is based on a complex calculation process."
Heckerott said the Adidas Group has launched a new programme for Reebok India's new start after taking the hit of financial regularities of 125 million euros from 2013 to ensure sustainable profitability for the company. The restructuring will involve Franchisee Transformation Project on revised business terms and the company estimates one third of the 900 franchisees may not be in position to transit to the new model.
However, he clarified that Adidas would not kill the Reebok brand.
z
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 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.60.84 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
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 |
|
29 |
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.