MIRA INFORM REPORT
|
Report No. : |
314463 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
WM GLOBAL TECHNOLOGY SERVICES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Block B, Salarpuria Touchstone, 15/1A, 14P7,
Kadubeensanahalli, Outer Ring Road, Bangalore – 560103, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.07.2011 |
|
|
|
|
Com. Reg. No.: |
08-059719 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.131 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200KA2011PTC059719 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRW01093B |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABCKW1354K AABCW1354K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in
providing software development, project management and support services to
Wal-Mart Stores Inc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Walmart India MMVIII LLC United State. It
is an established company having fine track. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of reputed parent, the company 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 BY
Management Non Co-Operative (91-80-40358008)
LOCATIONS
|
Registered Office : |
3rd Floor, Block B, Salarpuria Touchstone, 15/1A, 14P7,
Kadubeensanahalli, Outer Ring Road, Bangalore – 560103, Karnataka, India |
|
Tel. No.: |
91-80-40358008 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kulakada Jayakumar
|
||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||
|
Address : |
11 C. D, East Tower Klassic, Benchmark Apartment Kaman Hallo Main
Road, Bangalore – 560076, Karnataka, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.10.1964 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2014 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00483478 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jamie Elizabeth Chung |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
84 MT. Vernononln, Atherton, California – 94116, United State of
America |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.12.1965 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06374121 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Walmart India MMVII LLC, USA |
|
24192231 |
|
MMVII Walmart India LLC, USA |
|
4837 |
|
Total |
|
24197068 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(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 : |
The Company is engaged in
providing software development, project management and support services to
Wal-Mart Stores Inc. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
S V Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
6th
Floor, HT, House 18-20, Kasturba, Gandhi Marg, New Delhi – 110001, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9181P |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Ultimate Holding company : |
|
|
|
|
|
Holding company : |
|
|
|
|
|
Fellow Subsidiary company
: |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24197068 |
Equity Shares |
Rs.10/- each |
Rs.241.971 Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113069 |
Equity Shares |
Rs.10/- each |
Rs.1.131
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 (15 Months) |
31.12.2012 (12 Months) |
31.12.2011 (12 Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.131 |
1.131 |
0.100 |
|
(b) Reserves &
Surplus |
264.281 |
136.691 |
0.252 |
|
(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) |
265.412 |
137.822 |
0.352 |
|
|
|
|
|
|
(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 |
41.852 |
8.925 |
0.000 |
|
(d) long-term provisions |
13.140 |
8.987 |
0.000 |
|
Total Non-current
Liabilities (3) |
54.992 |
17.912 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
167.499 |
42.608 |
0.603 |
|
(c) Other current
liabilities |
154.132 |
115.644 |
19.973 |
|
(d) Short-term provisions |
36.622 |
27.318 |
0.333 |
|
Total Current Liabilities
(4) |
358.253 |
185.570 |
20.909 |
|
|
|
|
|
|
TOTAL |
678.657 |
341.304 |
21.261 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
83.755 |
97.493 |
0.000 |
|
(ii) Intangible Assets |
0.630 |
1.330 |
0.000 |
|
(iii) Capital
work-in-progress |
2.580 |
1.577 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
40.818 |
7.696 |
0.132 |
|
(d) Long-term Loan and Advances |
139.076 |
38.988 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
266.859 |
147.084 |
0.132 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
173.683 |
30.721 |
0.000 |
|
(d) Cash and cash
equivalents |
176.625 |
89.620 |
14.313 |
|
(e) Short-term loans and
advances |
61.490 |
41.178 |
2.666 |
|
(f) Other current assets |
0.000 |
32.701 |
4.150 |
|
Total Current Assets |
411.798 |
194.220 |
21.129 |
|
|
|
|
|
|
TOTAL |
678.657 |
341.304 |
21.261 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 (15 Months) |
31.12.2012 (12 Months) |
31.12.2011 (12 Months) |
|
|
SALES |
|
|
|
|
|
TOTAL REVENUE |
2150.560 |
754.494 |
4.150 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
1955.055 |
685.904 |
3.773 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
195.505 |
68.590 |
0.377 |
|
|
|
|
|
|
|
Less |
TAX |
67.915 |
23.366 |
0.125 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
127.590 |
45.224 |
0.252 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.29 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 (15 Months) |
31.12.2012 (12 Months) |
31.12.2011 (12 Months) |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.93 |
5.99 |
6.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.78 |
20.66 |
1.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.74 |
0.50 |
1.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.05 |
1.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 (12 Months) |
31.12.2012 (12 Months) |
31.03.2014 (15 Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
1.131 |
1.131 |
|
Reserves & Surplus |
0.252 |
136.691 |
264.281 |
|
Net worth |
0.352 |
137.822 |
265.412 |
|
|
|
|
|
|
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 |
31.12.2011 (12 Months) |
31.12.2012 (12 Months) |
31.03.2014 (15 Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4.150 |
754.494 |
2150.560 |
|
|
|
18,080.578 |
185.033 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 (12 Months) |
31.12.2012 (12 Months) |
31.03.2014 (15 Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4.150 |
754.494 |
2150.560 |
|
Profit |
0.252 |
45.224 |
127.590 |
|
|
6.07% |
5.99% |
5.93% |
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 |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note :
Registrar office of
the company has be shifted from RMZ Centennial, D Block, 5th Floor, Plot # 8d,
Doddanakundi Industrial Area, ITPL Road, Mahadevapura - 560048, Karnataka,
India to the present address.
CORPORATE INFORMATION
WM Global Technology Services
India Private Limited (the Company) is a private company domiciled in India
incorporated under the provisions of Companies Act, 1956 with offices in
Bangalore and Gurgaon. It is a subsidiary of Wal-Mart Stores, Inc. The Company
is engaged in providing software development, project management and support
services to Wal-Mart Stores Inc.
PRESS RELEASES
WAL-MART TO EXPAND INDIA TECH OPERATIONS, HIRES NEW TECH HEAD
Wal-Mart Labs is also building a new tech platform that will power all its global e-commerce operations
Bangalore: The world’s largest retailer Wal-Mart Stores Inc. is expanding its technology center in India where it has hired a former Oracle executive to head technology operations and plans to add at least 350-400 more jobs at a new facility in Bangalore—all part of a global push to strengthen its e-commerce business and compete against Amazon.com Inc.
As part of the strategy, Wal-Mart Labs is also building a new technology platform that will power all its global e-commerce operations, a top technology executive at Wal-Mart’s e-commerce business said.
Even as Wal-Mart attempts to negotiate a tricky regulatory environment in India where foreign direct investment (FDI) in online retail is barred, it has invested in building a new facility in Bangalore that will house 350-400 new employees for its e-commerce and technology operations, thus doubling the headcount at its Bangalore operations.
Wal-Mart has also hired former Oracle and Wipro Ltd executive K. Jaya Kumar to oversee its technology operations in India, said Jeremy King, chief technology officer of Wal-Mart global e-commerce. Kumar will be designated managing director and vice-president of Wal-Mart’s global technology services.
“We’re building an Internet technology company inside the world’s largest retailer, so it’s really changing the dynamic of how technology is being provided for the company,” said King in an interview on Wednesday. “Besides the search engine that we developed, we’ve gone ahead and developed pricing capabilities, personalization engines and a whole new e-commerce site.
Over the past few years, Wal-Mart, known for its low prices, has suffered from slowing sales growth in the US, where Amazon, the world’s largest online retailer, has aggressively grabbed market share by offering even lower prices than its rival.
Wal-Mart, therefore, has been making an aggressive push into e-commerce to help revive the slump in sales growth—a broader reflection of how traditional brick-and-mortar retailers are increasingly being forced to invest in e-commerce, with the battleground moving online and with billions of consumer dollars at stake.
This year, Wal-Mart has forecast a 30% jump in e-commerce
revenue. The company, which gets over $10 billion of revenue from e-commerce,
witnessed a 27% growth from the business during the first quarter of this
fiscal year.
Wal-Mart, however, did not comment on whether it planned to launch a
business-to-consumer (B2C) site in India. FDI in both online and offline retail
chains selling directly to consumers is banned in India. Wal-Mart, therefore,
hasn’t built a presence in the multi-brand retail market, given the lack of
clarity in policy.
Media reports earlier this year suggested that Wal-Mart may look to build an e-commerce marketplace to enter India and tap the growing online retail market. FDI is not banned in the marketplace model. A person familiar with the development, who requested anonymity, said Walmart is waiting to see if the FDI issue can resolved soon and will take a decision on whether to launch a B2C site for India, where rivals such as Amazon already have a first-mover advantage.
Wal-Mart is also building a new technology platform called Pangaea that will power its global e-commerce operations and unify all the back-end operations of its main websites such as Walmart.com and Samsclub.com into one common technology platform, while helping the company track inventory and products around the globe more efficiently.
The company will also put in place a new front-end operation for its consumer-facing site in the US later this year, as part of a broader push to expand e-commerce globally.
“We are launching a new front end for B2C later this year in the US,” King said.
“The new Pangaea platform covers all aspects of the e-commerce business with
all the back-end capabilities as well as the frontline capabilities. So you’ll
start to see some of the front-end pieces show up later this year in the US
when we start expanding around the world.”
Earlier in June, Wal-Mart had said it would launch wholesale e-commerce operations in Hyderabad and Lucknow next month before expanding to other cities where it has a physical presence by January. The Walmart India business-to-business (B2B) website will be branded around Best Price.
“WalMart.com, Samsclub.com, Walmart Brazil—those are the sites we’re focusing on more seriously,” King said. “We’re building a system that allows you to make changes quickly and we’re building a set of capabilities that allow personalized shopping and integrate it with a system where it shows core integration, as well as mobile and desktop integration.”
Since chief executive Doug McMillon took charge of Wal-Mart earlier this year, he has undertaken an organization-wide shake-up as part of a drive to revive growth and boost efficiency amid an attempt to play catch-up with Amazon in the online retail space.
In India alone, online retail is worth $3.1 billion, or 10% of the organized retail market, and is estimated to grow to $22 billion, or over 15% of the organized retail market, in five years, according to a November 2013 report by brokerage firm CLSA.
Over the past two years, Wal-Mart has acquired at least 13 companies to strengthen its e-commerce business and also hired nearly a 1,000 people globally, with the majority of the hiring in Silicon Valley and Bangalore. Wal-Mart, which develops digital initiatives and products at its e-commerce center in San Bruno, would continue with its acquisition strategy in online retail, King said.
Experts tracking Wal-Mart pointed out that the way it has operated in India over the past few years suggests that the company is more interested in expanding its B2B operations in online retail in India, than targeting the B2C space.
“I don’t think Wal-Mart wants to do a consumer play in e-commerce in India right now,” said Harminder Sahni, managing director at Wazir Advisors. “Their focus is only B2B—using technology to connect customers and suppliers is purely B2B. Now they’re attempting to do that in a manner where the customer should also have visibility of the merchandise online.”
“At the end of the day, e-commerce has to make sense for Wal-Mart which as of today is not the case with them in India,” Sahni said.
FIXED ASSETS
Tangible
Assets
- Furniture and
fixtures
- Office
equipment
- Leasehold
improvements
- Office
equipment
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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.62.61 |
|
UK Pound |
1 |
Rs.92.95 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
RCH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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
unfavorable 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.