MIRA INFORM REPORT
|
Report No. : |
356880 |
|
Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIA INFOLINE LIMITED (w.e.f. 27.02.2014) |
|
|
|
|
Formerly Known
As : |
INDIA INFOLINE DISTRIBUTION COMPANY LIMITED (w.e.f. 08.05.2000) AGRI MARKETING SERVICES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
IIFL House, Sun Infotech Park, Road No. 16V, Plot No.B-23, Thane Industrial Area, Wagle Estate, Thane- 400604, Maharashtra |
|
Tel. No.: |
91-22-39294000/41035000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
21.03.1996 |
|
|
|
|
Com. Reg. No.: |
11-132983 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 169.001 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1996PLC132983 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI7397D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing financial services. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was founded in 1996 as an independent financial research provider. It is a wholly owned subsidiary of IIFL Holdings Limited. The group is engaged in equity broking, portfolio management services, depository services, investment banking, distribution of mutual funds and other financial products, commodity broking, margin funding, consumer loan funding and wealth management. The rating further takes into consideration strong financial risk profile of the company marked by strong networth base along with debt free capital structure in FY15. Further, management has reported decent increase in its revenue base along with huge profit margins in the year under consideration. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. In view of aforesaid, the company can be considered for business dealings with 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 |
Long term principal
protected equity linked debenture : AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
August, 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
31-03-2015.
INFORMATION DECLINED
Management non-cooperative (91-22-40609204)
LOCATIONS
|
Registered Office : |
IIFL House, Sun Infotech Park, Road No. 16V, Plot No.B-23, Thane Industrial Area, Wagle Estate, Thane- 400604, Maharashtra, India |
|
Tel. No.: |
91-22-39294000/41035000 |
|
Fax No.: |
91-22-25806654 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
IIFL Center, B Wing, Trade Centre Kamala Mills Compound, Off Senapati Bapat Marg, Lower Parel, Mumbai – 400013, India |
|
Tel. No.: |
91-22-4249000/40609000 |
|
Fax No.: |
91-22-40609049 |
|
|
|
|
Overseas Offices : |
Located At :
|
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Venkataraman Rajamani |
|
Designation : |
Whole-time director |
|
Address : |
604, Glen Heights, Hiranandani Gardens, Powai, Andheri-400076, Maharashtra, India |
|
Date of Birth/Age : |
27.07.1967 |
|
Date of Appointment : |
29.03.2000 |
|
DIN No.: |
00011919 |
|
|
|
|
Name : |
Mr. Mohan Radhakrishnan |
|
Designation : |
Whole-time director |
|
Address : |
2003, 20th Floor B-Wing Lakshachandi Heights, Gokuldham, Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Date of Birth/Age : |
27.07.1965 |
|
Date of Appointment : |
22.05.2006 |
|
PAN No.: |
ADHPR6633G |
|
DIN No.: |
00012070 |
|
|
|
|
Name : |
Mr. Narendra Deshmal Jain |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 202, Shri Narmada CHS, Haridas Nagar, Shimpoli Road, Borivali (West), Mumbai-400092, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1971 |
|
Date of Appointment : |
07.05.2014 |
|
DIN No.: |
01984467 |
|
|
|
|
Name : |
Mr. Prasanth Prabhakaran Eledath |
|
Designation : |
Whole-time director |
|
Address : |
A/201, 1 Wing, Sabari Aashiana CHS, Tiss Compd, Deonar Farm Road, Deonar, Mumbai-400088, Maharashtra, India |
|
Date of Birth/Age : |
22.04.1972 |
|
Date of Appointment : |
07.05.2014 |
|
DIN No.: |
06887880 |
|
|
|
|
Name : |
Geeta Mathur |
|
Designation : |
Director |
|
Address : |
B-1/8, Vasant Vihar, New Delhi-110057, India |
|
Date of Appointment : |
22.01.2015 |
|
DIN No.: |
02139552 |
|
|
|
|
Name : |
Kranti Sinha |
|
Designation : |
Director |
|
Address : |
Flat No.3, Jeevan Sangram CHS Limited, Plot 24, Sector 2, Charkop, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Appointment : |
27.07.2015 |
|
DIN No.: |
00001643 |
KEY EXECUTIVES
|
Name : |
Mr. Roshan Bhanuprakash Dave |
|
Designation : |
Secretary |
|
Address : |
C,204, Bhagirath Chsl, N. L. Complex, Dahisar (East), Mumbai-400068, Maharashtra, India |
|
Date of Appointment : |
01.11.2015 |
|
PAN No.: |
ATMPD1701G |
|
|
|
|
Name : |
Mr. Parag Arvind Shah |
|
Designation : |
Chief Financial Officer |
|
Address : |
14 Anik Court, 211 Shivaji Park, Road No. 5, Mumbai-400016, Maharashtra, India |
|
Date of Appointment : |
20.10.2014 |
|
PAN No.: |
AALPS6269A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
IIFL Holdings Limited (Formerly known as India Infoline Limited) |
|
16900080 |
|
Venkataraman Rajamani (As Nominee of IIFL Wealth Management Limited) |
|
10 |
|
Nirmal Jain (As Nominee of IIFL Wealth Management Limited) |
|
5 |
|
Mukesh Jain (As Nominee of IIFL Wealth Management Limited) |
|
1 |
|
Narendra Jain (As Nominee of IIFL Wealth Management Limited) |
|
1 |
|
Saneepa VIg Arora (As Nominee of IIFL Wealth Management Limited) |
|
1 |
|
R. Mohan (As Nominee of IIFL Wealth Management Limited) |
|
1 |
|
Parag Shah (As Nominee of IIFL Wealth Management Limited) |
|
1 |
|
Total |
|
16900100 |
Equity Share Break up (Percentage of Total Equity)
As on 29.07.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing financial services. (Registered Activity) |
|
|
|
|
Products/ Services : |
Financial Services |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
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 : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
87, Nariman Bhavan, 227,Nariman Point, Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS1034J |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company : |
IIFL Holdings Limited CIN No.:
L74999MH1995PLC093797 |
|
|
|
|
Fellow Subsidiary
companies : |
India Infoline Finance Limited CIN No.:
U67120MH2004PLC147365 I IFL WEALTH MANAGEMENT LIMITED CIN No.:
U74140MH2008PLC177884 India Infoline Asset Management Company Limited CIN No.:
U74900MH2010PLC201113 IIFL Facilities Services Limited CIN No.:
U70102MH2007PLC176401 |
|
|
|
|
Associate Company : |
India Infoline Housing Finance Limited CIN No.:
U65993MH2006PLC166475 |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,000,100 |
Equity Shares |
Rs.10/- each |
Rs. 170.001 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,900,100 |
Equity Shares |
Rs.10/- each |
Rs. 169.001
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 |
169.001 |
169.001 |
14.001 |
|
(b) Reserves & Surplus |
1476.158 |
899.129 |
65.408 |
|
(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) |
1645.159 |
1068.130 |
79.409 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.624 |
0.000 |
|
(c) Other long term
liabilities |
1.886 |
3.386 |
3.101 |
|
(d) long-term
provisions |
15.542 |
16.421 |
0.000 |
|
Total Non-current
Liabilities (3) |
17.428 |
22.431 |
3.101 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
6893.967 |
7821.430 |
0.215 |
|
(c) Other
current liabilities |
1730.577 |
1659.304 |
0.460 |
|
(d) Short-term
provisions |
339.479 |
163.059 |
0.000 |
|
Total Current
Liabilities (4) |
8964.023 |
9643.793 |
0.675 |
|
|
|
|
|
|
TOTAL |
10626.610 |
10734.354 |
83.185 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
211.678 |
254.000 |
0.000 |
|
(ii)
Intangible Assets |
33.503 |
28.761 |
0.000 |
|
(iii)
Capital work-in-progress |
8.938 |
14.734 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
682.481 |
1022.010 |
0.000 |
|
(c) Deferred tax assets (net) |
7.566 |
0.000 |
0.300 |
|
(d) Long-term Loan and Advances |
830.661 |
840.456 |
5.114 |
|
(e) Other
Non-current assets |
1.959 |
2.300 |
0.000 |
|
Total Non-Current
Assets |
1776.786 |
2162.261 |
5.414 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
60.135 |
|
(b)
Inventories |
94.795 |
39.154 |
0.000 |
|
(c) Trade
receivables |
3922.400 |
3534.806 |
6.488 |
|
(d) Cash
and cash equivalents |
4566.876 |
4302.173 |
11.148 |
|
(e)
Short-term loans and advances |
138.634 |
501.514 |
0.000 |
|
(f) Other
current assets |
127.119 |
194.446 |
0.000 |
|
Total
Current Assets |
8849.824 |
8572.093 |
77.771 |
|
|
|
|
|
|
TOTAL |
10626.610 |
10734.354 |
83.185 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5456.573 |
4052.621 |
13.240 |
|
|
|
Other Income |
3.245 |
9.143 |
20.234 |
|
|
|
TOTAL (A) |
5459.818 |
4061.764 |
33.474 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
1825.237 |
1608.226 |
0.000 |
|
|
|
CSR expenses |
2.000 |
0.000 |
0.000 |
|
|
|
Other expenses |
2431.605 |
2104.291 |
3.121 |
|
|
|
TOTAL (B) |
4258.842 |
3712.517 |
3.121 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1200.976 |
349.247 |
30.353 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
45.211 |
89.490 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
1155.765 |
259.757 |
30.352 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
97.203 |
82.112 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1058.562 |
177.645 |
30.352 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
348.070 |
56.924 |
12.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
710.492 |
120.721 |
17.949 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
42.04 |
35.11 |
NA |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
484.190 |
4900.962 |
44.039 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
13.02 |
2.98 |
135.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
22.01 |
8.62 |
229.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.66 |
1.83 |
36.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.64 |
0.17 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
0.89 |
115.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
14.001 |
169.001 |
169.001 |
|
Reserves & Surplus |
65.408 |
899.129 |
1476.158 |
|
Net
worth |
79.409 |
1068.130 |
1645.159 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
13.240 |
4052.621 |
5456.573 |
|
|
|
30,508.920 |
34.643 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
13.240 |
4052.621 |
5456.573 |
|
Profit |
17.949 |
120.721 |
710.492 |
|
|
135.57% |
2.98% |
13.02% |
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 |
Yes |
|
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 |
Yes |
|
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 |
REVIEW OF OPERATIONS AND
BUSINESS
Further to the restructuring through demerger of broking business from the holding Company to the Company implemented in the last quarter of FY14 pursuant to the Honble High Court and other regulatory approvals, the operations of the Company during the year consists of equity broking and related services.
The merchant banking registration held under the financial services activities was transferred to the holding Company with due regulatory compliances. As a core business, your company is engaged in institutional and retail equity broking and related services.
During the year, the gross total income of the Company was up by 34.42% y-o-y to Rs. 5,459.820 Million from Rs. 4061.760 Million in the last year. This revenue growth of the Company was mainly due to buoyancy in equity markets, which resulted in an increase in average daily turnover. In FY15, the average daily turnover in the equities segment was Rs.70978.000 Million compared with Rs.56245.000 Million in the previous year. However, exchange traded volumes in currency segment has registered a fall of 25% y-o-y. During the financial year, the Company has earned the net profit of Rs. 710.490 Million as compared to previous year’s net profit of Rs. 120.720 Million.
ECONOMIC OVERVIEW
The Indian economy showed signs of recovery, with GDP growth rising to 7.3% (source mospi.nic.in) for the financial year ended March 31, 2015 (FY15). Growth prospects are likely to improve in the current fiscal, driven by the governments development initiatives and pick-up in business cycle. While agriculture growth remained weak due to poor monsoon, manufacturing and industrial growth saw an improvement in FY15. Agriculture growth could continue to remain sluggish in FY16 owing to uncertainty in monsoon. Overall, the momentum in government-led infrastructure spending, combined with revival in consumer demand, is likely to provide the necessary impetus for economic growth. We expect weakness in commodity prices, especially in crude oil, can help manage both, the current account deficit (CAD) and the fiscal deficit. CAD is likely to remain below 1% of GDP in FY16, and recent steps to reduce fuel subsidies, through decontrol of diesel prices and direct transfer of LPG subsidies to bank accounts of beneficiaries, can contain fiscal deficit to the targeted 3.9% of GDP. Inflation has been on a downward trajectory over the last one year. While there are upside risks from rising crude oil prices, weakening currency and below-normal rains, consumer price inflation is expected to remain below RBIs target of 6% by January 2016
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10577771 |
23/03/2015 |
450,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C57669624 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer
Intangible assets
· Goodwill
· 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 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.66.20 |
|
|
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.72.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
KAM |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.