MIRA INFORM REPORT
|
Report No. : |
316964 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SABMILLER INDIA LIMITED (w.e.f. 22.06.2012) |
|
|
|
|
Formerly Known
As : |
SKOL BREWERIES LIMITED |
|
|
|
|
Registered
Office : |
Unit No.301-302, Dynasty Business Park, B Wing, 3rd Floor,
Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel No.: |
91-22-30913600 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
18.11.1988 |
|
|
|
|
Com. Reg. No.: |
11-049687 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3131.707 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1988PLC049687 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
NSKF00109E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR3140F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of brewing, packaging, distribution, marketing and
sale of beer. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 an established company having fine track. It is the second
largest player in the Indian beer industry, with market share of around 23
percent. The rating reflects the strong business and financial support it
receives from its parent SABMiller PLC. It has a diversified product portfolio with an established presence in
the strong beer segment through Hayward’s 5000, Fosters and knockout, which
enjoys strong brand equity. The company earns close to 90 percent of its
revenue from these brands. However, the rating remains constrained on account of weak
profitability and operational loss incurred by the company during year under
review. Trade relations reported to be fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong support from its parent, subject can be considered
normal 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 |
CRISIL |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
16.09.2014 |
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 BY
|
Name : |
Mr. Sunderlal |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-80-30793001 |
|
Date : |
10.04.2015 |
LOCATIONS
|
Registered Office : |
Unit No.301-302, Dynasty Business Park, B Wing, 3rd Floor,
Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-30913600 |
|
Fax No.: |
91-22-67103894 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Jalahalli Camp Road, Yeshwantpur, Bangalore – 560022, Karnataka, India
|
|
Tel. No.: |
91-80-39499999 |
|
Fax No.: |
91-80-39248994 |
|
|
|
|
Regional Office 1 : |
9th Floor, Welldone Tech Park, Sector-48, Sohna Road, Gurgaon
– 122001, Haryana, India |
|
Tel. No.: |
91-124-3949999 |
|
Fax No.: |
91-124-3302684 |
|
|
|
|
Regional Office 2 : |
BKN Ambaramam Estate, 648/L Main First Stage, Indiranagar, Bangalore –
560038, Karnataka, India |
|
Tel. No.: |
91-80-30793001 |
|
Fax No.: |
91-80-30793013 |
DIRECTORS
As on 06.08.2014
|
Name : |
Mr. Grant Murray Liversage |
|
Designation : |
Managing Director |
|
Address : |
Rua Beijo Da Mulata, Lote N 141, Maputo B Sommerschield, Cidade De
Maputo, Mozambique |
|
Date of Birth/Age : |
02.10.1966 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
06618242 |
|
|
|
|
Name : |
Mr. Ari Mervis |
|
Designation : |
Director |
|
Address : |
50 Forest Road, Bramley, Johannesburg, South Africa 2090 |
|
Date of Birth/Age : |
04.01.1964 |
|
Date of Appointment : |
13.11.2007 |
|
DIN No.: |
01892065 |
|
|
|
|
Name : |
Mr. Thirumanilaiyur Sitapati Ramana Subramanian |
|
Designation : |
Director |
|
Address : |
“Guru Kripa” 74, Sector 15-A, Gautam Budh Nagar, Noida – 201301, Uttar
Pradesh, India |
|
Date of Birth/Age : |
12.12.1938 |
|
Date of Appointment : |
23.06.2008 |
|
DIN No.: |
00016912 |
|
|
|
|
Name : |
Mr. Stephen Victor Shapiro |
|
Designation : |
Director |
|
Address : |
19 Court Lane Gardens, SE21, 7DZ, London |
|
Date of Birth/Age : |
26.04.1966 |
|
Date of Appointment : |
28.05.2013 |
|
DIN No.: |
06572786 |
|
|
|
|
Name : |
Mr. Catherine May |
|
Designation : |
Director |
|
Address : |
16 Star Street W2, 1QD, London, United Kingdom |
|
Date of Birth/Age : |
14.12.1964 |
|
Date of Appointment : |
28.05.2013 |
|
DIN No.: |
06609499 |
KEY EXECUTIVES
|
Name : |
Mr. Sridhar S |
|
Designation : |
Secretary |
|
Address : |
Flat 2358, Janapriya, Lakeview, Phase 2, Kodichikkanahalli, Begur Hobli,
Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
14.02.1971 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
ANGPS8916G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.08.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 06.08.2014
|
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 |
99.43 |
|
Bodies corporate |
0.02 |
|
Other top fifty shareholders |
0.55 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of brewing, packaging,
distribution, marketing and sale of beer. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
||||
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Imports : |
Not Divulged |
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|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
-- |
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Maruthi Info-tech, Centre, 11-12/1 Inner, Ring Road, Koromangla, Bangalore -560071, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Ultimate holding
company: |
|
|
|
|
|
Holding company: |
|
|
|
|
|
Enterprises where control
exists Significant influence |
|
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|
|
Fellow
subsidiaries: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
320000000 |
Equity Shares |
Rs.10/- each |
Rs. 3200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
313170736 |
Equity Shares |
Rs.10/- each |
Rs. 3131.707
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
3131.707 |
3131.707 |
2311.837 |
|
(b) Reserves & Surplus |
2972.619 |
3969.930 |
1415.156 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
72.420 |
|
(3) Deferred Government Grants |
111.964 |
121.230 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
6216.290 |
7222.867 |
3799.413 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2850.346 |
2356.379 |
2346.224 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
128.257 |
216.899 |
245.445 |
|
(d) long-term provisions |
180.608 |
146.566 |
118.266 |
|
Total
Non-current Liabilities (3) |
3159.211 |
2719.844 |
2709.935 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7629.160 |
6899.819 |
8545.819 |
|
(b) Trade payables |
2237.901 |
2452.229 |
1873.938 |
|
(c) Other current liabilities |
3807.818 |
2728.122 |
3361.913 |
|
(d) Short-term provisions |
518.810 |
478.642 |
397.161 |
|
Total
Current Liabilities (4) |
14193.689 |
12558.812 |
14178.831 |
|
|
|
|
|
|
TOTAL |
23569.190 |
22501.523 |
20688.179 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8355.244 |
8554.203 |
8510.355 |
|
(ii) Intangible Assets |
2047.279 |
2236.792 |
2407.873 |
|
(iii) Capital work-in-progress |
609.671 |
330.948 |
371.316 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.283 |
11.407 |
11.489 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
529.282 |
452.196 |
476.228 |
|
(e) Other Non-current assets |
580.298 |
534.186 |
484.065 |
|
Total
Non-Current Assets |
12124.057 |
12119.732 |
12261.326 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3446.164 |
2674.122 |
2742.345 |
|
(c) Trade receivables |
6185.621 |
6198.546 |
4652.811 |
|
(d) Cash and cash equivalents |
71.156 |
646.432 |
169.184 |
|
(e) Short-term loans and
advances |
1683.830 |
765.574 |
643.691 |
|
(f) Other current assets |
58.362 |
97.117 |
218.822 |
|
Total
Current Assets |
11445.133 |
10381.791 |
8426.853 |
|
|
|
|
|
|
TOTAL |
23569.190 |
22501.523 |
20688.179 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
19202.297 |
19965.254 |
16662.852 |
|
|
Other Income |
164.693 |
168.475 |
46.073 |
|
|
TOTAL
(A) |
19366.990 |
20133.729 |
16708.925 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
9514.120 |
9578.428 |
8604.114 |
|
|
Purchases of Stock-in-Trade |
300.722 |
400.514 |
2.371 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(314.288) |
177.509 |
(66.406) |
|
|
Employees benefits expense |
1652.128 |
1491.170 |
1400.217 |
|
|
Other expenses |
6990.650 |
6954.120 |
5935.725 |
|
|
TOTAL
(B) |
18143.332 |
18601.741 |
15876.021 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1223.658 |
1531.988 |
832.904 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1115.771 |
1451.971 |
1152.900 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
107.887 |
80.017 |
(319.996) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1105.198 |
963.513 |
872.589 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(997.311) |
(883.496) |
(1192.585) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
1.546 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(997.311) |
(883.496) |
(1194.131) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
480.398 |
320.337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
|
255.874 |
69.907 |
|
|
Components and Stores parts |
|
43.639 |
28.209 |
|
|
Capital Goods |
|
77.665 |
115.716 |
|
|
TOTAL
IMPORTS |
NA |
377.178 |
213.832 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.18) |
(3.65) |
(5.01) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.19) |
(4.43) |
(7.17) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.37 |
7.67 |
5.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.34) |
(3.99) |
(5.87) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
(0.12) |
(0.31) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.69 |
1.28 |
2.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
0.83 |
0.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2311.837 |
3131.707 |
3131.707 |
|
Reserves & Surplus |
1415.156 |
3969.930 |
2972.619 |
|
Share Application money
pending allotment |
72.420 |
0.000 |
0.000 |
|
Deferred Government Grants |
0.000 |
121.230 |
111.964 |
|
Net
worth |
3799.413 |
7222.867 |
6216.290 |
|
|
|
|
|
|
long-term borrowings |
2346.224 |
2356.379 |
2850.346 |
|
Short term borrowings |
8545.819 |
6899.819 |
7629.160 |
|
Total
borrowings |
10892.043 |
9256.198 |
10479.506 |
|
Debt/Equity
ratio |
2.867 |
1.282 |
1.686 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
16662.852 |
19965.254 |
19202.297 |
|
|
|
19.819 |
(3.821) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
16662.852 |
19965.254 |
19202.297 |
|
Profit |
(1194.131) |
(883.496) |
(997.311) |
|
|
(7.17%) |
(4.43%) |
(5.19%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
502.999 |
0.000 |
572.489
|
|
|
|
|
|
|
Total |
502.999 |
0.000 |
572.489
|
|
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 |
Yes |
|
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 |
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 |
OPERATIONS
The company achieved over 5.1 million hectoliters of sales during the year which is 6.8% behind the previous year, driven by a decline in the Indian beer industry caused by an extended monsoon, unusually severe winter and steep excise driven price increases. Despite the decline in volume, the company was able to achieve a marginal increase in turnover from Rs.33490.000 Million in 2012-13 to Rs.33630.000 Million in 2013-14 helped by price increases taken across states.
Losses for the year increased over the prior year due to the above mentioned volume decline as well as high commodity cost inflation in the country. The extent of the increase in losses was partially mitigated by several management initiatives during the year including price increase taken across an unprecedented 18 states as well as Fit for Purpose cost initiatives on their brewing and packing costs.
They regret to inform you that the capacity expansion plans in Karnataka and Orissa to set up new Breweries could not progress further as they have hit a road block in securing a proper access road to the Project site in Karnataka while they await requisite approvals in Orissa. However the company was able to partially mitigate the impact of these delays through accessing contract brewing arrangements.
The Board enjoys the unqualified support of all its financiers whose confidence in the future of the company is evidenced by the fact that all borrowings have been made without the bankers taking any charges over the company?s assets and are used for both short term and long term purposes.
The company identified a breach of process by certain employees in one of their breweries whereby a difference between actual stock and reported stock was detected. They have conducted a thorough check of the incident and find that there are no significant control weaknesses in the current process. However, as an abundant caution, the company has further strengthened its internal control system and related processes.
BACKGROUND
Subject formerly SKOL Breweries Limited, was incorporated as a private limited company under the Companies Act, 1956 on 18 November 1988. With effect from 22 June 2012 the name of the Company was changed from SKOL Breweries Limited to SABMiller India Limited. The Company is primarily engaged in the business of brewing, packaging, distribution, marketing and sale of beer.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other external commercial borrowings |
1871.007 |
2267.073 |
|
Loans and advances from others |
979.339 |
89.305 |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
7350.000 |
6560.000 |
|
Loans repayable on demand from banks |
279.160 |
339.820 |
|
Total |
10479.506 |
9256.198 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90073187 |
09/07/2003 * |
90,000,000.00 |
STANDARD CHARTERED BANK |
PARLIAMENT STREET, NEW DELHI, DELHI, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Brands
- 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 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.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
7 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.