MIRA INFORM REPORT
|
Report No. : |
334923 |
|
Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE INDIAN
EXPRESS PRIVATE LIMITED |
|
|
|
|
Formally Known
as: |
THE INDIAN
EXPRESS LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Express Towers, Nariman Point, Mumbai - 400021,
Maharashtra |
|
Tel. No.: |
91-22-22022627/67440000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.11.2003 |
|
|
|
|
Com. Reg. No.: |
11-142983 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.166.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH2003PTC142983 (New) U22120MH2003PLC142983 (Old) |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT1148F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Publishers of any newspapers, Journals, magazines, books and other
literary works in any media including electronics media like electronic mail,
radio and television. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Exit |
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|
|
|
Comments : |
Subject is an established company incorporated during the year 2003.
It has a satisfactory track record. The rating takes into consideration the factor in the consistent
growth in circulation revenues of the company aided by higher penetration in
existing markets and increase in cover price of flagship publication in
matured markets; strong brand recall and established market position of key
publications. Although the company has incurred losses in the current year, it has
adequate net worth position. Further, the company has a strong publication portfolio including ‘The
Indian Express’, ‘Loksatta’, Screen’, ‘Jansatta’, Financial Express’ and a
portfolio of industrial journal and magazines. The company also organizes
renowned film performance awards – ‘Screen’ awards. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan /Cash Credit = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
February 2015 |
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
31-03-2013.
INFORMATION DECLINED
Management non co-operative 022.22022139
LOCATIONS
|
Registered Office : |
2nd Floor, Express Towers, Nariman Point, Mumbai - 400021,
Maharashtra , India |
|
Tel. No.: |
91-22-22022627/67440000 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-22-22022139 |
|
Email: |
Monika.bansal@expressindia.com |
|
|
|
|
Corporate Office : |
The Express Building, B1/B, Sector 10, Noida - 201301, Uttar Pradesh,
India |
|
Tel. No.: |
91-1206651500 |
|
|
|
|
Branches : |
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Viveck Goenka |
|
Designation : |
Dhaiman cum Managing Director |
|
Address : |
Express Tower, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
Date of Birth/Age : |
03.12.1957 |
|
Date of Appointment : |
05.01.2014 |
|
DIN No.: |
00015640 |
|
|
|
|
Name : |
Ms. Vaidehi Thakar |
|
Designation : |
Whole Time Director |
|
Address : |
Flat 8E Giriraj, 15 Altamount Road, Mumbai - 400026, Maharashtra,
India |
|
Date of Birth/Age : |
19.09.1962 |
|
Date of Appointment : |
05.01.2014 |
|
DIN No.: |
00015587 |
|
|
|
|
Name : |
Mr. Goenka Anant |
|
Designation : |
Whole Time Director |
|
Address : |
Pent House, Express towers, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
Date of Birth/Age : |
19.08.1986 |
|
Date of Appointment : |
15.03.2013 |
|
DIN No.: |
05277022 |
|
|
|
|
Name : |
Mr. George Varghese |
|
Designation : |
Director |
|
Address : |
196, Kalpataru Habitat, Dr. S. S. Rao Road, Near M. G. M. Hospital, Parel, Mumbai - 400012, Maharashtra, India |
|
Date of Appointment : |
02/01/2014 |
|
DIN No.: |
02236641 |
KEY EXECUTIVES
|
Name : |
Mrs. Monika Bansal |
|
Designation : |
Secretary |
|
Address : |
House No. 810, sector 21 C, Part II, Faridabad - 121001, Haryana,
India |
|
Date of Birth/Age : |
21.01.1983 |
|
Date of Appointment : |
18.07.2011 |
|
PAN NO.: |
ALGPB8489B |
|
Name : |
Mr. Amit Rattan |
|
Designation : |
CFO |
|
Address : |
C-42, Shyampark Extension, Sahibabad, Ghaziabad - 201005, Uttar Pradesh, India |
|
Date of Appointment : |
03.04.2015 |
|
PAN NO.: |
AFDPR5082D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Indian Express Holding And Enterprises Limited |
8465991 |
|
Viveck Goenika |
6640000 |
|
Shekar Gupta And Neelam Goenka |
1494000 |
|
Vaidehi Thakar |
1 |
|
Harcharan Singh- |
1 |
|
Poorvi Kamani |
1 |
|
Monika Bansal |
1 |
|
Vinayak Shete |
1 |
|
S. Munnaram Prasad |
1 |
|
Sandra Nazareth |
1 |
|
Neeta Fichardo |
1 |
|
Clarence Patrik |
1 |
|
Total |
166,000,00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
51.00 |
|
Directors or relatives of Directors |
40.00 |
|
Other top fifty shareholders |
9.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publishers of any newspapers, Journals, magazines, books and other
literary works in any media including electronics media like electronic mail,
radio and television. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountant |
|
Address : |
2-C, Court Chamber, 35, New Marine Lines, Mumbai - 400020,
Maharashtra, India |
|
Tel.: |
91-11-25702074,25704639 |
|
Fax No.: |
91-11-25705233,25705010 |
|
E-mail: |
newdelhi@vsa.co.in |
|
PAN No.: |
AAAFV078ID |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Subsidiaries : |
·
The Indian Express Online Media Private Limited
|
|
|
|
|
Associate: |
·
Indian Express Newspaper (Mumbai) Private Limited
|
|
|
|
|
Holding Company: |
·
Indian Express Holding and Enterprises Limited
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18 ,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 180.000 Million |
|
|
|
|
|
Issued,
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,390,933 |
Equity Shares |
Rs.10/- each |
Rs. 173.909
Million |
|
|
|
|
|
Subscribed &
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16600000 |
Equity Shares |
Rs.10/- each |
Rs. 166.000
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 |
166.000 |
166.000 |
166.000 |
|
(b) Reserves & Surplus |
2076.575 |
2210.673 |
2054.674 |
|
(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) |
2242.575 |
2376.673 |
2220.674 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
142.907 |
242.466 |
812.355 |
|
(b) Deferred tax liabilities (Net) |
56.296 |
55.202 |
22.686 |
|
(c) Other long term
liabilities |
52.098 |
49.305 |
53.055 |
|
(d) long-term
provisions |
0.000 |
0.000 |
69.773 |
|
Total Non-current
Liabilities (3) |
251.301 |
346.973 |
957.869 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
419.166 |
379.273 |
257.633 |
|
(b) Trade
payables |
268.626 |
258.515 |
285.393 |
|
(c) Other
current liabilities |
600.340 |
455.800 |
501.522 |
|
(d) Short-term
provisions |
26.221 |
43.504 |
55.862 |
|
Total Current
Liabilities (4) |
1314.353 |
1137.092 |
1100.410 |
|
|
|
|
|
|
TOTAL |
3808.229 |
3860.738 |
4278.953 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1885.941 |
1923.907 |
2101.617 |
|
(ii)
Intangible Assets |
31.219 |
32.791 |
35.114 |
|
(iii)
Capital work-in-progress |
1.649 |
2.262 |
3.404 |
|
(iv)
Intangible assets under development |
0.000 |
1.884 |
0.000 |
|
(b) Non-current Investments |
107.193 |
107.400 |
103.047 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
117.882 |
|
(d) Long-term Loan and Advances |
268.103 |
228.439 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2294.105 |
2296.683 |
2361.064 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
230.290 |
146.348 |
189.997 |
|
(c) Trade
receivables |
900.350 |
877.650 |
838.744 |
|
(d) Cash
and cash equivalents |
246.119 |
430.659 |
242.996 |
|
(e)
Short-term loans and advances |
137.365 |
109.398 |
646.152 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1514.124 |
1564.055 |
1917.889 |
|
|
|
|
|
|
TOTAL |
3808.229 |
3860.738 |
4278.953 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3876.336 |
3620.143 |
3457.454 |
|
|
|
Other Income |
38.606 |
153.501 |
58.961 |
|
|
|
TOTAL |
3914.942 |
3773.644 |
3516.415 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1103.742 |
943.766 |
1024.717 |
|
|
|
Exceptional Item |
141.162 |
0.000 |
(198.109) |
|
|
|
Employees benefits expense |
1311.208 |
1258.869 |
1215.273 |
|
|
|
Other expenses |
1266.769 |
1210.574 |
1232.778 |
|
|
|
TOTAL |
3822.881 |
3413.209 |
3274.659 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
92.061 |
360.435 |
241.756 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
118.083 |
115.531 |
167.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(26.022) |
244.904 |
74.579 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
102.882 |
106.419 |
101.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX |
(128.904) |
138.485 |
(27.151) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.024 |
(22.686) |
22.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX |
(128.928) |
161.171 |
(49.837) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(518.541) |
(679.712) |
(600.115) |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
(647.469) |
(518.541) |
(679.712) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(7.77) |
9.71 |
(3.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
(3.33) |
4.45 |
(1.44) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
2.37 |
9.96 |
6.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.48) |
3.69 |
(0.65) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
0.06 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.32 |
0.34 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.38 |
1.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
166.000 |
166.000 |
166.000 |
|
Reserves & Surplus |
2054.674 |
2210.673 |
2076.575 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2220.674 |
2376.673 |
2242.575 |
|
|
|
|
|
|
long-term borrowings |
812.355 |
242.466 |
142.907 |
|
Short term borrowings |
257.633 |
379.273 |
419.166 |
|
Current maturities of
long-term debts |
294.365 |
183.215 |
148.695 |
|
Total
borrowings |
1364.353 |
804.954 |
710.768 |
|
Debt/Equity
ratio |
0.614 |
0.339 |
0.317 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3457.454 |
3620.143 |
3876.336 |
|
|
|
4.705 |
7.077 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3457.454 |
3620.143 |
3876.336 |
|
Profit/Loss |
(49.837) |
161.171 |
(128.928) |
|
|
(1.44)% |
4.45% |
(3.33)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
SL/121/2015 |
Failing Date:- |
05.02.2015 |
Reg. No.:- |
S/212/2015 |
Reg. No.:- |
04.03.2015 |
|
Petitioner:- |
ADITYA BIRLA MANAGEMENTCORPORATE |
Respondent:- |
THE INDIAN EXPRESS LIMITED. AND 3 ORS |
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|
Petn.Adv:- |
MANILAL KHER AMBALAL AND COMPANY. (101) |
Resp. Adv.: |
MS. POORVI KAMANI (74) |
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District:- |
MUMBAI |
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Bench:- |
SINGLE |
Category:- |
SUITS FOR DAMAGES |
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Status:- |
Pre-Admission |
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Next Date:- |
14.10.2015 |
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Corma:- |
Registrar (OS) PROTHONOTARY AND SR. MASTER |
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Last Date:- |
17.17.2015 Stage:- FOR DIRECTION |
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Last Corma:- |
REGISTRAR (OS) PROTHONOTARY AND SR. MASTR |
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Act. : |
Code of Civil Procedure 1908 |
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FUTURE OUTLOOK
There is continued
emphasis on improving consumer reach and diversification of consumer and geographical
mix. The Company also continues to focus on the effective and efficient
utilization of the resources, cost control and waste reduction as a measure of
improving bottom lines and to build the capabilities that will help to leverage
the opportunities that will come in the future. However, the revenue margins
are expected to be strained due to reduced ad-spends because of slowdown in the
economy, increasing competition from new emerging media including inter alia
the audio-visual, audio media as well as inter-net, high-interest rate regime,
high inflation and continuous weakening of the Indian rupee against the US
dollar leading to costlier imports.
NOTE:
There is continued emphasis on improving
consumer reach and diversification of consumer and geographical mix. The
Company also continues to focus on the effective and efficient utilization of
the resources, cost control and waste reduction as a measure of improving
bottom lines and to build the capabilities that will help to leverage the
opportunities that will come in the future. However, the revenue margins are ex
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10525639 |
26/09/2014 |
250,000,000.00 |
PUNJAB &
SIND BANK |
J.K. SOMANI
BLDG., BRITISH HOTEL LANE, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
C29508009 |
|
2 |
10482105 |
23/08/2014 * |
200,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH
FLOOR,, DISCOVERY OF INDIA, DR. |
C42397885 |
|
3 |
10399718 |
28/12/2012 |
400,000,000.00 |
UNITED BANK OF
INDIA |
106-109, ANSAL
TOWER, 1ST FLOOR,, 38, NEHRU PLACE , NEW DELHI, DELHI - 110019, INDIA |
B66705351 |
|
4 |
10391573 |
09/05/2014 * |
62,238,389.00 |
PUNJAB &
SIND BANK |
J.K. SOMANI
BLDG., BRITISH HOTEL LANE, FORT, MUMB |
C07281868 |
|
5 |
10391571 |
09/05/2014 * |
187,824,921.00 |
PUNJAB &
SIND BANK |
J.K. SOMANI
BLDG.,, BRITISH HOTEL LANE, FORT, MUM |
C07286156 |
|
6 |
10168627 |
09/05/2014 * |
600,000,000.00 |
PUNJAB &
SIND BANK |
J.K. SOMANI
BLDG.,, BRITISH HOTEL LANE, FORT, MUM |
C07149818 |
* Date of charge modification
FIXED ASSETS
- Lease hold
land
- Building
- Furniture
- Air
Conditioner
- Office
equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.96 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
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.