MIRA INFORM REPORT
|
Report No. : |
338317 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
FRANKE FABER INDIA PRIVATE LIMITED (w.e.f. 19.02.2015) |
|
|
|
|
Formerly Known
As : |
FRANKE FABER INDIA LIMITED (w.e.f. 26.10.2010) FABER HEATKARFT INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
S. No.1086/1, 1086/2, Village Sanaswadi, Taluka Shirur, Pune - 412208,
Maharashtra |
|
Tel. No.: |
91- 2138-612400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.04.1997 |
|
|
|
|
Com. Reg. No.: |
11-107240 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 124.853 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999PN1997PTC107240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF00532A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4002G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Kitchen Hoods, Gas Hobs, Stainless Steel Sinks and
Accessories and Trading of Imported Sinks and Other Kitchen Related
Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Franke, Switzerland”. It is an established company incorporated during the year 1997 having
a moderate track record. The company is continuously incurring losses from its operational
activities which has further turned reserves negative during FY 2014. The rating also takes into consideration huge borrowings recorded by
the company and unfavorable gap between trade payable and trade receivable. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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
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
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Yogesh Aher |
|
Designation : |
Commercial Manager |
|
Contact No.: |
91-2138-612433 |
|
Date : |
24.08.2015 |
LOCATIONS
|
Registered Office/ Factory : |
S. No.1086/1, 1086/2, Village Sanaswadi, Taluka Shirur, Pune - 412208,
Maharashtra, India |
|
Tel. No.: |
91-2138 612400/ 612433 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
204, Pentagon 2, Magarpatta City, Hadapsar, Pune – 411028,
Maharashtra, India |
|
Tel. No.: |
91-20-66037900 |
|
Fax No.: |
91-20-66037913 |
|
|
|
|
Factory 2 : |
Plot No. L-7, MIDC, Waluj
Industrial Area, Aurangabad – 431136, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Peter Spirig |
|
Designation : |
Director |
|
Address : |
Apartment 861 8/F Tower 10 Parkview Crescent, HK Parkview 88 Tai Tam Reservoir RD, Hong Kong, NA, , Hong Kong |
|
Date of Birth/Age : |
01.07.1973 |
|
Date of Appointment : |
31.12.2013 |
|
DIN No.: |
06776597 |
|
|
|
|
Name : |
Mr. Xavier Fabien Michel Carlier |
|
Designation : |
Director |
|
Address : |
Flat B4, 2/F Woodland Villa, 53 Shouson Hill Road, Shouson Hill, Hong Kong, Na, Hong Kong |
|
Date of Birth/Age : |
23.04.1960 |
|
Date of Appointment : |
31.12.2013 |
|
DIN No.: |
06776606 |
|
|
|
|
Name : |
Ms. Neha Satish Dharwadkar |
|
Designation : |
Additional Director |
|
Address : |
Floor No.903, BL C1, Mandke Advantage Homes, Opposite Kendriya Vidyalaya, Lullanagar, Pune - 411048, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1985 |
|
Date of Appointment : |
12.06.2015 |
|
PAN No.: |
AUSPD6050F |
|
DIN No.: |
07202745 |
KEY EXECUTIVES
|
Name : |
Ms. Neha Satish Dharwadkar |
|
Designation : |
Secretary |
|
Address : |
Floor No 903, Building - C-1, Mandke Advantage Homes, Opposite Kendriya Vidyalaya, Lullanagar, Pune - 411040, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1985 |
|
Date of Appointment : |
17.12.2012 |
|
PAN No.: |
AUSPD6050F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Paber SPA, Italy |
11714308 |
|
Andreas Hausuirth Jointly with Faber SPA |
01 |
|
Druno Bigaran Jointly with Faber SPA |
01 |
|
Juerg Fisher Jointly with Faber SPA |
01 |
|
Jean Claude Michaud Jointly with Faber SPA |
01 |
|
Monika Egli Jointly with Faber SPA |
01 |
|
Wolfganag Kemmerling Jointly with Faber SPA |
01 |
|
Franke Kuchentechnik AG |
770969 |
|
Franke Schweiz AG |
01 |
|
|
|
|
Total |
12485284 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Kitchen Hoods, Gas Hobs and Cooking Ranges. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
“ FRANKE” |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information Declined by the Management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· ABN Amro Bank N. V., 71/72, 7th Floor, Sakhar Bhavan, Nariman Point,, Mumbai - 400021, Maharashtra, India |
|
Auditors : |
|
|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
703, 7Th Floor, Go d e r a g e Castlemaine Next To Ruby Hall Clinic, Bund Garden Road, Pune, Maharashtra, India |
|
Tel. No.: |
91-20-30586764/ 30595786 |
|
Fax No.: |
91-20-30595776 |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
· Franke Kuchentechnik AG · Franke SPA, Italy · Faber SPA, Italy |
|
|
|
|
Ultimate
Holding Company: |
· Franke Artemis Holding AG |
|
|
|
|
Fellow
Subsidiary Company |
· Franke Artemis Management AG · Faber A Franke Company · Franke Asia Sourcing Limited, Hong Kong · Franke Asia Sourcing · Franke China Kitchen System Company Limited, China · Franke Nederland B.V, Netherlands · Franke Technology and Trademark Limited, Switzerland · Franke Kaffeemaschinen AG, Switzerland · Franke Food Services System, Hong Kong · Franke Foodservice Systems, Philippines · Franke Commercial Systems Asia Pacific Co Limited, Hong Kong |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 505.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 164.853
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 405.000 Million |
|
10,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 505.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,485,284 |
Equity Shares |
Rs. 10/- each |
Rs. 124.853
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 |
124.853 |
124.853 |
124.853 |
|
(b) Reserves & Surplus |
(73.981) |
367.805 |
577.121 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
75.000 |
75.000 |
75.000 |
|
Total
Shareholders’ Funds (1) + (2) |
125.872 |
567.658 |
776.974 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
100.000 |
100.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
84.128 |
77.845 |
160.830 |
|
Total
Non-current Liabilities (3) |
184.128 |
177.845 |
160.830 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
281.028 |
274.850 |
0.000 |
|
(b)
Trade payables |
648.905 |
408.216 |
261.028 |
|
(c)
Other current liabilities |
154.904 |
144.170 |
36.807 |
|
(d)
Short-term provisions |
24.793 |
19.545 |
22.391 |
|
Total
Current Liabilities (4) |
1109.630 |
846.781 |
320.226 |
|
|
|
|
|
|
TOTAL |
1419.630 |
1592.284 |
1258.030 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
598.341 |
594.949 |
269.475 |
|
(ii)
Intangible Assets |
43.552 |
70.898 |
1.952 |
|
(iii)
Capital work-in-progress |
15.111 |
26.506 |
208.155 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
7.562 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
64.112 |
|
(d) Foreign currency monetary item translation
difference assets account |
42.822 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
65.312 |
73.895 |
74.429 |
|
(e)
Other Non-current assets |
1.440 |
1.327 |
1.231 |
|
Total
Non-Current Assets |
766.578 |
767.575 |
626.916 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
381.988 |
357.321 |
289.632 |
|
(c)
Trade receivables |
188.978 |
290.932 |
231.337 |
|
(d)
Cash and cash equivalents |
23.310 |
91.391 |
72.316 |
|
(e)
Short-term loans and advances |
58.776 |
85.065 |
37.829 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
653.052 |
824.709 |
631.114 |
|
|
|
|
|
|
TOTAL |
1419.630 |
1592.284 |
1258.030 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1537.802 |
1394.587 |
1376.478 |
|
|
|
Other Income |
5.019 |
26.138 |
18.014 |
|
|
|
TOTAL |
1542.821 |
1420.725 |
1394.492 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
784.404 |
547.822 |
634.371 |
|
|
|
Purchases of Stock-in-Trade |
397.646 |
390.947 |
207.417 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(45.934) |
(23.226) |
(21.429) |
|
|
|
Employees benefits expense |
181.781 |
131.133 |
91.448 |
|
|
|
Other expenses |
579.169 |
524.029 |
502.662 |
|
|
|
TOTAL |
1897.066 |
1570.705 |
1414.469 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(354.245) |
(149.980) |
(19.977) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
44.715 |
24.898 |
0.067 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(398.960) |
(174.878) |
(20.044) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
85.649 |
47.538 |
22.168 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTION ITEM |
0.000 |
(77.211) |
(11.469) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(484.609) |
(145.205) |
(30.743) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(42.823) |
64.111 |
5.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(441.786) |
(209.316) |
(36.354) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
5.946 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spare Parts |
784.404 |
547.822 |
NA |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(35.38) |
(16.77) |
(2.91) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
4.486 |
(140.010) |
33.668 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(28.73) |
(15.01) |
(2.64) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(23.04) |
(10.75) |
(1.45) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(35.59) |
(9.27) |
(3.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.85) |
(0.26) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.03 |
0.66 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.59 |
0.97 |
1.97 |
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 |
124.853 |
124.853 |
124.853 |
|
Reserves & Surplus |
577.121 |
367.805 |
-73.981 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
75.000 |
75.000 |
75.000 |
|
Net
worth |
776.974 |
567.658 |
125.872 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
100.000 |
100.000 |
|
Short term borrowings |
0.000 |
274.850 |
281.028 |
|
Total
borrowings |
0.000 |
374.850 |
381.028 |
|
Debt/Equity
ratio |
0.000 |
0.660 |
3.027 |
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 |
1376.478 |
1394.587 |
1537.802 |
|
|
|
1.316 |
10.269 |
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 |
1376.478 |
1394.587 |
1537.802 |
|
Profit |
(36.354) |
(209.316) |
(441.786) |
|
|
(2.64%) |
(15.01%) |
(28.73%) |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Loans and advances from related parties |
100.000 |
100.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
100.000 |
150.000 |
|
Loans repayable on demand |
181.028 |
124.850 |
|
|
|
|
|
Total |
381.028 |
374.850 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 37/1, Kondhwa
Pisoli Road, Pisoli, Pune – 411028, Maharashtra, India to the present address
w.e.f. 01.10.2012
BACKGROUND
Franke Faber India Limited (the Company) was incorporated on 11 April 1997 as a public limited company with 51% shareholding by Faber SpA, Italy (the holding Company). Subsequently, the holding Company increased its holding to 93.82%.
In accordance with the Scheme of Amalgamation approved by the Honourable High Court of Bombay on 10 July 2009, Franke India Private Limited (hereinafter referred to as erstwhile Franke India Private Limited or transferor Company) was amalgamated with the Company with effect from 1 April 2008.
The Company has its manufacturing facilities located at Pune, Maharashtra where it is engaged in manufacturing / trading of imported Kitchen Hoods, Gas Hobs and Cooking Ranges and trading of kitchen appliances / other kitchen related accessories and at Waluj, near Aurangabad, Maharashtra where it is engaged in manufacturing of stainless steel sinks and accessories and trading of imported sinks and other kitchen related accessories.
OVERREVIEW:
PERFORMANCE
During the financial year under review, your Company took various growth initiatives to improve Sales volumes. The Company shifted its Registered Office and Factory unit to Village -Sanaswadi. The production at the same commenced with effect from October 2012.
The Company has achieved a Sales Turnover of Rs. 1558.000 Million.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Factory Equipment’s
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
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.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.