MIRA INFORM REPORT
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Report No. : |
318779 |
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Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
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Name : |
TOTAL OIL INDIA PRIVATE LIMITED (w.e.f.12.03.2010) |
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Formerly Known
As : |
TOTAL OIL INDIA LIMITED (w.e.f.04.12.2009) TOTAL LPG INDIA LIMITED (w.e.f.24.06.2008) ELF GAS INDIA LIMITED |
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Registered
Office : |
3rd Floor, The Leela Galleria, Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra |
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Tel. No.: |
91-22-66407700 |
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
09.01.1996 |
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Com. Reg. No.: |
11-194631 |
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Capital
Investment / Paid-up Capital : |
Rs. 271.800 Million |
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CIN No.: [Company Identification
No.] |
U23203MH1996PTC194631 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT15808C |
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PAN No.: [Permanent Account No.] |
AAACE2175M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in importing and reselling Liquefied Petroleum Gas (‘LPG’) and certain solvents (special fluids) and manufacturing and marketing of industrial and automotive lubricants and modified value added bitumen and also provides business Strategy Services. |
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No. of Employees
: |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 8890000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track. The company possesses a favourable financial profile marked by decent
networth base along with modest working capital intensive operations. Management has reported a dip in its profitability during December
2014. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of long standing presence, the subject 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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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.
LOCATIONS
|
Registered Office : |
3rd Floor, The Leela Galleria, Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-66407700/ 67232500 |
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Fax No.: |
91-22-66047720 |
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E-Mail : |
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Website : |
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Corporate Office : |
# 138, Ground Floor and First Floor, Raheja Paramount, Residency Road,
Bangalore – 560 025, Karnataka, India |
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Tel. No. : |
91-80-42730000 |
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Factory : |
Plot No.26, TTC Industrial Area, Mahape MIDC, Post Koparkharine, Navi Mumbai
– 400 710, Maharashtra, India |
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Tel. No. : |
91-22-27788000 |
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Lubricants Division – Régional Offices : |
Located at: · Chennai · Kolkata · Mumbai · Noida · Ahmedabad |
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Marketing Office : |
Located at: · Bangalore · Chennai · Coimbatore · Hyderabad · Cochin |
DIRECTORS
AS ON 31.03.2015
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Name : |
Mr. Vijay Kumar Balakrishnan |
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Designation : |
Managing director |
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Address : |
209, VARS Fantasy, HAC, 2nd Stage, Indiranagar, Bangalore –
560008, Karnataka, India |
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Date of Birth/Age : |
12.04.1956 |
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Date of Appointment : |
05.10.2009 |
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PAN No.: |
ABIPV5034E |
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DIN No.: |
02829765 |
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Name : |
Mr. Prakash Jonnalagadda |
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Designation : |
Whole-time Director |
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Address : |
No138, Ground Floor, Raheja
Paramount Residency Road, Bangalore - 560025, Karnataka, India |
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Date of Birth/Age : |
04.08.1961 |
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Date of Appointment : |
01.08.2009 |
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PAN No.: |
AMKPJ5488K |
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DIN No.: |
02753687 |
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Name : |
Yves Felicien Jassaud |
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Designation : |
Whole-time Director |
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Address : |
10, BIS AV, DU General Leclerc – 78100, Saint German-EN-LAYE, France |
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Date of Birth/Age : |
01.02.1959 |
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Date of Appointment : |
14.08.2010 |
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PAN No.: |
APKPJ1616C |
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DIN No.: |
03153904 |
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Name : |
Francois Dehodencq |
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Designation : |
Director |
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Address : |
8, Draycott Park, # 02-06 Draycott Eight, Singapore - 259404 |
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Date of Birth/Age : |
07.11.1956 |
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Date of Appointment : |
13.02.2012 |
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DIN No.: |
05212868 |
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Name : |
Olivier Goutal |
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Designation : |
Director |
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Address : |
1 Lady Hill Road, 258670, Singapore - 458676 |
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Date of Birth/Age : |
26.05.1962 |
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Date of Appointment : |
25.03.2013 |
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DIN No.: |
05328413 |
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Name : |
Christine Hein |
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Designation : |
Director |
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Address : |
Total Oil Asia-Pacific Pte Limited, 331, North Bridge Road, #23-01
Odeon Towers, Singapore - 188720 |
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Date of Birth/Age : |
24.08.1967 |
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Date of Appointment : |
25.03.2013 |
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DIN No.: |
05349461 |
KEY EXECUTIVES
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Name : |
Mr. Bhagwanchand Premchand Rajput |
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Designation : |
Secretary |
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Address : |
C-211, Rishabh Enclave CHS Limited, Jai Ambe Mandir Road, Motinagar,
Bhayandar (West), Thane – 401101, Maharashtra, India |
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Date of Birth/Age : |
12.08.1976 |
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Date of Appointment : |
01.12.2012 |
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PAN No.: |
AHWPR1381G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders (Equity Share - Class A) |
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No. of Shares |
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Total Holding Asie, France |
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8894387 |
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Total Marketing Services, France |
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8544656 |
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Total |
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17439043 |
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Names of Shareholders (Equity Share - Class B) |
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No. of Shares |
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Total Marketing Services, France |
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9742126 |
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Total |
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9742126 |
AS ON 31.03.2015
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in importing and reselling Liquefied Petroleum Gas (‘LPG’) and certain solvents (special fluids) and manufacturing and marketing of industrial and automotive lubricants and modified value added bitumen and also provides business Strategy Services. |
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Brand Names : |
· TOTAL · TOTAL Lubricants |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
BNP Paribas Bank French Bank Building, 62, Homji street, Fort, Mumbai - 400001, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Associates LLP Chartered Accountants |
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Address : |
Lodha Excelus,1st Floor, Apollo Mills
Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Cost Accountants : |
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Name : |
Joshi Apte and Associates Cost Accountants |
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Ultimate Holding
company : |
Total SA |
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Holding company : |
Total Marketing Services |
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Associates : |
·
Total Lubrifiants ·
Total Holding Asie Arteco NV ·
Total Belgium S.A ·
Total Oil Asia Pacific Pte Limited ·
PT Total Oil Indonesia ·
S Oil Total Lubricants Co. Limited ·
Total Lubricants, USA ·
Total Fluides ·
Total Gestion Internationale, Switzerland ·
Total Petrochemicals Hongkong Limited ·
Totsa Total Oil Trading SA, Geneva ·
Total Lubrifiants, China ·
Total Philippines Corporation ·
Total Gaz Vietnam Ltd Co. ·
Total Projects India Private Limited
[U74899DL2001PTC130189] ·
Sun Power Systems SARL ·
Total Raffinage Chimie ·
Arteco Coolants India Private Limited
[U24233MH2010PTC201618] |
CAPITAL STRUCTURE
AS ON 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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160,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1600.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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27,180,000 |
Equity Shares |
Rs. 10/- each |
Rs. 271.800 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
271.800 |
271.800 |
271.800 |
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(b) Reserves & Surplus |
2840.600 |
2822.900 |
2642.000 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
3112.400 |
3094.700 |
2913.800 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
18.700 |
0.000 |
0.000 |
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(c)
Other long term liabilities |
345.900 |
315.000 |
263.300 |
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(d)
long-term provisions |
41.100 |
28.400 |
27.000 |
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Total
Non-current Liabilities (3) |
405.700 |
343.400 |
290.300 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
1095.200 |
2079.500 |
1718.400 |
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(b)
Trade payables |
1629.500 |
561.100 |
862.200 |
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(c)
Other current liabilities |
933.100 |
1091.400 |
946.800 |
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(d)
Short-term provisions |
237.100 |
261.900 |
169.500 |
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Total
Current Liabilities (4) |
3894.900 |
3993.900 |
3696.900 |
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TOTAL |
7413.000 |
7432.000 |
6901.000 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
2102.700 |
1806.500 |
1723.300 |
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(ii)
Intangible Assets |
3.900 |
5.000 |
0.100 |
|
(iii)
Capital work-in-progress |
203.100 |
294.200 |
120.700 |
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(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) |
0.000 |
41.000 |
41.700 |
|
(d) Long-term Loan
and Advances |
467.200 |
286.200 |
271.600 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
2776.900 |
2432.900 |
2157.400 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
2503.400 |
2721.600 |
2523.300 |
|
(c)
Trade receivables |
1871.800 |
2004.800 |
1668.000 |
|
(d)
Cash and cash equivalents |
23.700 |
2.300 |
97.300 |
|
(e)
Short-term loans and advances |
237.200 |
270.400 |
455.000 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4636.100 |
4999.100 |
4743.600 |
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TOTAL |
7413.000 |
7432.000 |
6901.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
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SALES |
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TOTAL |
NA
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NA
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NA
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Less |
EXPENSES |
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TOTAL |
NA
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NA
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NA
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PROFIT BEFORE
TAX |
546.600 |
792.700 |
971.000 |
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Less |
TAX |
192.800 |
276.700 |
200.500 |
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PROFIT AFTER TAX |
353.800 |
516.000 |
770.500 |
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Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1106.300 |
991.700 |
728.500 |
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Add/ Less |
PROFIT TRANSFER
ON AMALGAMATION |
0.000 |
0.000 |
(82.700) |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
35.400 |
51.600 |
77.100 |
|
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Dividend |
299.000 |
299.000 |
299.000 |
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|
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Tax on Dividend |
50.800 |
50.800 |
48.500 |
|
|
BALANCE CARRIED
TO THE B/S |
1074.900 |
1106.300 |
991.700 |
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Earnings Per
Share (Rs.) |
13.02 |
18.98 |
28.35 |
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KEY RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.58 |
11.17 |
14.41 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.26 |
0.33 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.35 |
0.67 |
0.59 |
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Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.25 |
1.28 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
271.800 |
271.800 |
271.800 |
|
Reserves & Surplus |
2642.000 |
2822.900 |
2840.600 |
|
Net
worth |
2913.800 |
3094.700 |
3112.400 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1718.400 |
2079.500 |
1095.200 |
|
Total
borrowings |
1718.400 |
2079.500 |
1095.200 |
|
Debt/Equity ratio |
0.590 |
0.672 |
0.352 |
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 |
No |
|
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 |
Yes |
|
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 |
LITIGATION
DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 13.10.2014 |
|
Lodging No: CEXAL/332/2014 Filing Date:
13.10.2014 Reg. No.: CEXA/67/2015 Reg. Date: 27.02.2015 |
|
Petitioner: COMMISSIONER OF CENTRAL EXCISE Respondent: TOTAL OIL
INDIA PRIVATE LIMITED Petn. Adv : NEELESH VASANT KALANTRI (I4349) District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission
Category: CENTRAL EXCISE APPEAL (CEXA) Next Date: 05.05.2015
Stage: FOR
ADMISSION Coram: HON’BLE SHRI JUSTICE B.R. GAVAI HON’BLE SHRI JUSTICE A.S.
GADKARI |
|
Act: Central Excise & Salt Act
UNDER SECTION: 35(G) |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.12.2014 (Rs.
In Million) |
31.12.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
1095.200 |
2079.500 |
|
|
|
|
|
Total |
1095.200 |
2079.500 |
BACKGROUND
Subject was incorporated under the provision of Companies Act, 1956 on 9
January 1996 as a public company with limited liability. The Company is a
subsidiary of Total Marketing Services (formerly Total Raffinage Marketing,
name change effective 5 July 2013) a subsidiary of TOTAL SA, France (the
ultimate holding company).
At the Company’s Board meeting held on 24 December 2009, the Company
applied to the Registrar of Companies (‘ROC’) for converting itself from a
Public Company to a Private Company, which has been approved by the ROC on 31
December 2009.
The Company is engaged in importing and reselling Liquefied Petroleum
Gas (‘LPG’) and certain solvents (special fluids) and manufacturing and
marketing of industrial and automotive lubricants and modified value added
bitumen. The Company also provides business strategy services in the areas of
marketing, production and research functions to its parent company, support
services and marketing support services with respect to the products of its
group companies.
PERFORMANCE REVIEW
LUBRICANTS BUSINESS
The
Company faced a tough year 2014 due to economic slowdown as reflected in
macroeconomic GDP indicators.
In
the year 2014, due to persistent follow up by the Industries and the Company, the
Government of Maharashtra reduced the Local Body Tax rate from 3% to 2% in Navi
Mumbai where the Company’s manufacturing plant is located.
The
Company registered a de growth of 2.75% in the overall sales volume i.e. After
Market Distributors segment and OEM Factory Fill segment registered de growth
of 11.3% and 0.6% respectively. However, Workshop Segment registered a growth
of 4.8%, Industrial Lubricant segment 9.9% and other corporate segment 40.8%.
Sales
revenues registered a growth of over 1.95 % over the previous year.
Proactive
Pricing and efficient cost management has helped largely to manage sluggish
sales volume growth.
The
Company has continued to pursue its long term growth strategy. It has taken new
initiatives to expand its consumer base through innovative sales, trade
promotions and on ground campaigns covering Retailer, Mechanic and Consumers.
The
Company continues to support high performing Distributors through TOTAL ELITE
CLUB programme.
During
the Year, the Company continued to focus on a wide array of Marketing
activities aimed at strengthening its Brand position. To improve MCO & PCMO
segment the Company has continued to invest in media campaigns. Two multimedia
campaigns including TV, Radio, Billboard, Digital and BTL activations were
launched for TOTAL QUARTZ and ELF MOTO.
In
2014, The Company forayed into social media by launching a Facebook page which
has received encouraging response from the customers.
The
Company has launched a Global Corporate Campaign “Committed to Better Energy”
during the year. The Company will keep running this campaign for next three (3)
years.
The
Company continued its strategic tie-up with Mahindra Group to sponsor Mahindra
Racing team in the year 2014. Mahindra Racing is the first Indian company to
participate in prestigious motorsports event like MotoGP.
The
Company entered into an agreement for a period of 3 years starting from 2015,
with Badminton World Federation (BWF) as a title and official sponsor for
various events in Asia Pacific.
With
the objective of building competence and effectiveness in Sales and
Distribution team, the Company conducted a series of brand workshops across the
country and provided training on the various aspects of brand management,
network management and customer relationship management.
During
the year, the Company won the prestigious award for Quality and Delivery
Improvement Special support ‘Flexibility in operations’ from Maruti Suzuki for
the fifth consecutive year and ‘Best Service Provider’ award from Ferromatic
Milacron India Limited.
The
Company added two new products in its product portfolio by launching TOTAL
Quartz 4x4 engine oil in PCMO segment and TOTAL Rubia 7800 TT engine oil in
premium DEO segment.
The
Company was selected as a Supplier of lubricants by Honda Group for the
first-fill of gasoline engines at their car factory at Tapukara (close to New
Delhi). This factory is strategic for Honda Group in the country.
To
improve the productivity of vehicles and to reduce the servicing costs for
their consumers, OEMs are upgrading the specifications of recommended products.
This has lead to increased intervals especially in Commercial Vehicle and
2-wheeler segments which has tapered the overall growth in lube consumption.
Car OEMs are moving rapidly towards fuel economy products, as is evident from
the change in recommendation to lower viscosity engine oils. In tractor segment
the shift from dry brake to wet brake tractors continues.
In
the bazaar trade all major lube players are offering aggressive schemes to
Retailers, Mechanics and Consumers for retaining its market share.
In
Industrial sector also, market has seen increased competition by National Oil
Companies (NOCs) and local players to retain market share.
TOTAL
has developed Lubricants in Fuel Economy range covering all the segments.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Leasehold improvements
·
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. 63.40 |
|
|
1 |
Rs. 95.42 |
|
Euro |
1 |
Rs. 68.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
45 |
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.