MIRA INFORM REPORT
|
Report No. : |
352845 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
JOTUN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
502, 5th Floor, |
|
Tel. No.: |
91-22-28224600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
10.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160431 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1780.417 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24224MH2006PTC160431 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ12022D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ6665J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Liquid Paints and Powder Coatings (Registered
Activity) |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary Jotun AS, Norway. It has
incorporated in the year 2006 and has moderate track. The company has been continuously incurring losses from its
operations, which has resulted in partial erosion of the networth base.
However, debt level is comfortable along with favorable gap between trade
receivables and trade payables. The company receives managerial and technical support from its holding
company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with 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
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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(TEL. NO.: 91-22-28224600)
LOCATIONS
|
Registered Office : |
502, 5th Floor, |
|
Tel. No.: |
91-22-67872100/ 26848932 |
|
Fax No.: |
91-22- 26848920 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
D-280, MIDC, Ranjangaon, Shirur, Pune – 412220, Maharashtra, India |
|
Tel. No.: |
91-2138-671300/ 230300/ 671399/ 230399 |
|
Fax No.: |
91-2138-671399/ 230399 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1: |
313, Rectangle One, Saket District Centre, New Delhi – 110017, India |
|
Tel No.: |
91-11-45613951 |
|
Email : |
|
|
|
|
|
Branch Office 2: |
101, 1st Floor, SNS Synergy, B/S Landmark Honda Showroom
Athwa-Dumas Road, Surat – 395007, Gujarat, India |
|
Tel No.: |
91-261-2205000 |
|
Email : |
|
|
|
|
|
Branch Office 3: |
Prince Plaza, 2nd Floor, 73 Pantheon Road, Egmore, Chennai
– 600008, Tamilnadu, India |
|
Tel No.: |
91-44-28419420/ 28510861 |
|
Fax No.: |
91-44-28419513 |
|
Email : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Esben Hersve |
|
Designation : |
Director |
|
Address : |
Orneveien 17, Sandefjord - 003209, Norway |
|
Date of Birth/Age : |
27.06.1960 |
|
Qualification : |
Bachelor Degree
In International Management (BI) |
|
Date of Appointment : |
06.06.2007 |
|
DIN No.: |
02012551 |
|
|
|
|
Name : |
Mr. Richard Roger Chapman |
|
Designation : |
Director |
|
Address : |
6a, Sudbrooke Road, Scothern, Lincoln, LN2 2UZ, London, London, Nil, United Kingdom |
|
Date of Birth/Age : |
27.04.1966 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06520916 |
|
|
|
|
Name : |
Mr. Baard Tonning |
|
Designation : |
Director |
|
Address : |
Frydenlund, 24 D, 3238 Sandefjord, Norway, Nil, Norway |
|
Date of Birth/Age : |
26.05.1968 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06530790 |
|
|
|
|
Name : |
Mr. Peder Anders Bohlin |
|
Designation : |
Director |
|
Address : |
Villa No. 12, Street 51, Off Beach Road, Jumeirah, Dubai, United Arab Emirates, Dubai, Nil, United Arab Emirates |
|
Date of Birth/Age : |
02.06.1952 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06536797 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Kothare |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-402, Ariisto Sapphire, 2nd Hasnabad Lane, Near, Willingdon Gymkhana,Mumbai, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Appointment : |
30.05.2014 |
|
PAN No.: |
AAGPK4797E |
|
|
|
|
Name : |
Ms. Flora Das |
|
Designation : |
Company Secretary |
|
PAN No.: |
ALXPD8563B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2015
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Jotun AS, Norway |
171181669 |
96.15 |
|
Jotun Powder Coatings AS, Norway |
6860000 |
3.85 |
|
|
|
|
|
Total |
178041669 |
100.00 |
AS ON 26.09.2014
|
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 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Liquid Paints and Powder Coatings (Registered
Activity) |
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|
Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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||||
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information by declined by management |
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|
Bankers : |
· Citi Bank N.A. Citigroup Centre,, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby,29 Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Ultimate
Holding company: |
Jotun AS, Narway |
|
|
|
|
Fellow
Subsidiary Company : |
·
Jotun U.A.E. Limited (L.L.C.) ·
Jotun Boya San. Ve Tic A.S ·
Jotun Powder Coatings UAE Limited (L.L.C.) ·
Jotun Abu Dhabi Limited (L.L.C.) ·
Jotun Paints Europe Limited ·
Jotun Powder Coatings (M) Sdn Bhd ·
Jotun Powder Coatings Saudi Arabia Co.
Limited ·
Jotun Thailand Limited ·
Jotun Saudia Co. Limited ·
Jotun Singapore Pte. Limited ·
Jotun Brasil Imp.Exp & Industria de
Tintas Limited ·
Chokwang Jotun Limited ·
Jotun Iberica S.A. ·
Jotun Cosco Marine Coatings (HK) Co.
Limited. ·
Jotun Paints South Africa (Pty) Limited ·
Jotun Paints, Inc. ·
Jotun Paints (Vietnam) Co. Limited ·
P.T. Jotun Indonesia ·
Jotun Italia S.p.A ·
El-Mohandes Jotun Egypt (S.A.E.) ·
Jotun Paints Co. L.L.C ·
Jotun (Malaysia) Sdn. Bhd. ·
Jotun Sverige AB ·
Jotun Powder Coating (CZ) a.s. ·
Jotun Coatings (Zhangjiagang) Co. Limited ·
Jotun Danmark A/S ·
Jotun Cosco Marine Coatings (Qingdio) Co.
Limited ·
Jotun Powder Coatings AS ·
Jotun Cosco Marine Coatings (Qingdio) Co.
Limited. ·
Jotun Brasil Imp.Exp & Industria de
Tintas Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,80,41,669 |
Equity Shares |
Rs. 10/- each |
Rs. 1780.417
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1780.417 |
1697.083 |
1430.417 |
|
(b) Reserves & Surplus |
(635.095) |
(595.233) |
(601.952) |
|
(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) |
1145.322 |
1101.850 |
828.465 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
812.045 |
898.875 |
868.320 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
6.701 |
8.675 |
8.086 |
|
(d)
long-term provisions |
0.000 |
0.000 |
5.705 |
|
Total
Non-current Liabilities (3) |
818.746 |
907.550 |
882.111 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
391.233 |
433.164 |
791.843 |
|
(b)
Trade payables |
575.939 |
553.034 |
465.210 |
|
(c)
Other current liabilities |
336.499 |
214.841 |
253.814 |
|
(d)
Short-term provisions |
22.468 |
23.192 |
27.336 |
|
Total
Current Liabilities (4) |
1326.139 |
1224.231 |
1538.203 |
|
|
|
|
|
|
TOTAL |
3290.207 |
3233.631 |
3248.779 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
618.919 |
643.397 |
622.464 |
|
(ii)
Intangible Assets |
6.111 |
2.726 |
3.572 |
|
(iii)
Capital work-in-progress |
199.551 |
168.834 |
84.041 |
|
(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 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
46.268 |
54.681 |
63.974 |
|
(e)
Other Non-current assets |
0.123 |
0.098 |
0.097 |
|
Total
Non-Current Assets |
870.972 |
869.736 |
774.148 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
691.123 |
632.790 |
656.419 |
|
(c)
Trade receivables |
1376.588 |
1098.547 |
1129.263 |
|
(d)
Cash and cash equivalents |
227.599 |
447.979 |
494.328 |
|
(e)
Short-term loans and advances |
123.285 |
184.012 |
193.986 |
|
(f)
Other current assets |
0.640 |
0.567 |
0.635 |
|
Total
Current Assets |
2419.235 |
2363.895 |
2474.631 |
|
|
|
|
|
|
TOTAL |
3290.207 |
3233.631 |
3248.779 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3584.164 |
2913.539 |
2802.364 |
|
|
|
Other Income |
70.130 |
46.559 |
127.077 |
|
|
|
TOTAL (A) |
3654.294 |
2960.098 |
2929.441 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2108.423 |
1810.915 |
|
|
|
|
Purchases of Stock-in-Trade |
331.187 |
163.767 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(66.871) |
33.401 |
|
|
|
|
Employees benefits expense |
412.830 |
334.530 |
|
|
|
|
Other expenses |
819.681 |
864.388 |
|
|
|
|
TOTAL (B) |
3605.250 |
3207.001 |
3391.340 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
49.044 |
(246.903) |
(Including Financial and Depreciation Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.532 |
85.568 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.512 |
(332.471) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
221.040 |
194.143 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(206.528) |
(526.614) |
(461.899) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(206.528) |
(526.614) |
(461.899) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.20) |
(3.51) |
(3.23) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
124.930 |
59.925 |
54.270 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
(141.351) |
(165.563) |
(22.821) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.76) |
(18.07) |
(16.48) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.37 |
(8.47) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.68) |
(17.18) |
(14.60) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18) |
(0.48) |
(0.56) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16 |
1.26 |
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
1.93 |
1.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2043 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1430.417 |
1697.083 |
1780.417 |
|
Reserves & Surplus |
(601.952) |
(595.233) |
(635.095) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
828.465 |
1101.850 |
1145.322 |
|
|
|
|
|
|
Long-term borrowings |
868.320 |
898.875 |
812.045 |
|
Short term borrowings |
791.843 |
433.164 |
391.233 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
54.270 |
59.925 |
124.930 |
|
Total
borrowings |
1714.433 |
1391.964 |
1328.208 |
|
Debt/Equity
ratio |
2.069 |
1.263 |
1.160 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2043 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2802.364 |
2913.539 |
3584.164 |
|
|
|
3.967 |
23.018 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2043 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2802.364 |
2913.539 |
3584.164 |
|
Profit |
(461.899) |
(526.614) |
(206.528) |
|
|
(16.48%) |
(18.07%) |
(5.76%) |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10123388 |
04/08/2008 |
350,000,000.00 |
CITIBANK
N.A. |
CITIGROUP
CENTRE, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA,
INDIA |
A45588142 |
|
2 |
90372082 |
21/07/2005 |
22,900,000.00 |
CITI
BANK N.A. |
MUMBAI,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
3 |
90384114 |
21/07/2005 |
22,900,000.00 |
CITI BANK
N.A. |
MUMBAI,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90384084 |
09/10/1999 |
700,000.00 |
UNION
BANK OF INDIA |
CHANDRA
SEKKARPUR BRANCH, BHUBNESHWAR, ORISSA, INDIA |
- |
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Foreign currency term loans from |
812.045 |
898.875 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
210.000 |
27,00,00 |
|
Other loans and advances, others |
181.233 |
163.164 |
|
|
|
|
|
Total |
1203.278 |
1089.039 |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Office Equipment
· Leasehold Improvements
Intangible Assets
· Goodwill
· Computer Softwar
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.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.