MIRA INFORM REPORT
|
Report No. : |
356889 |
|
Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAIKIN AIRCONDITIONING INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DAIKIN-SHRIRAM AIRCONDITIONING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F -25/2, Okhla Industrial Area, Phase – II, New Delhi – 110020 |
|
Tel. No.: |
91-79-26583013 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
04.04.2000 |
|
|
|
|
Com. Reg. No.: |
55-104990 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8029.239 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PTC104990 |
|
|
|
|
IEC No.: |
0500010323 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD04648A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD0971F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of selling of air conditioning equipment and
chillers.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 |
|
Maximum Credit Limit : |
USD 23400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Daikin Industries Limited’, Japan. The company is engaged in manufacturing air conditioning equipment for residential, commercial and industrial purpose. Daikin Industries (Holding Entity) ranked 23ed amongst top 25 Engineering and Construction companies and it has brand name value of USD 3,042 million along with enterprise value of USD 23,806 million. For the financial year ended 2015, Daikin air conditioning India possesses healthy operational performance and achieved profit against previous year loss. It has also maintain average profit margin at 2.63% during the year under review. Rating takes into consideration company’s satisfactory financial profile supported by its adequate capital base along with healthy debt coverage indicators and favorable liquidity position. Furthermore, rating also takes into account of company’s diversified market networks around globe and decent brand recognition among the customer worldwide. The company also receives strong financial and managerial support from its holding entity backed by its well experienced management team. However, rating strength is partially offset by working capital-intensive nature of operations and intense competition from other manufacture in the segment. Trade relations are reported as fair. Payments are reported to be regular and as per commitments. In view of aforesaid, the Company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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.
LOCATIONS
|
Registered Office : |
F -25/2 Okhla Industrial Area, Phase – II, New Delhi – 110020, India |
|
Tel No.: |
91-79-26583013 |
|
Fax No: |
91-79-26583365 |
|
E-Mail : |
|
|
Website : |
http://www.daikinindia.com |
|
|
|
|
Corporate Office : |
12th Floor, Building No. 9, Tower A, DLF Cyber City, DLF
Phase – III, Gurgaon-122002,
Haryana, India |
|
Tel No.: |
91-124-4555444 |
|
Fax No: |
91-124-4555333 |
|
|
|
|
Factory : |
SP 2-12 to SP2-15 and SP 2-24 to SP2-27 RIICO New Industrial Complex,
Neemrana – 301705, District Alwar, Rajasthan, India |
|
Tel No.: |
91-1494-229100 |
|
Fax No.: |
91-1494-229-151 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Kanwal Jeet Jawa |
|
Designation : |
Managing Director |
|
Address : |
C-204, Greater Kailash Part 1, |
|
Date of Birth/Age : |
10.11.1959 |
|
Date of Appointment : |
10.09.2010 |
|
PAN No.: |
AAGPJ1732N |
|
DIN No.: |
00057351 |
|
|
|
|
Name : |
Mr. Hitoshi Hideki Tanaka |
|
Designation : |
Director |
|
Address : |
B-184, The ICON, DLF City, Phase V, Gurgaon –122002, Haryana, India |
|
Date of Birth/Age : |
21.02.1967 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310959 |
|
|
|
|
Name : |
Mr. Masakatsu Syozou Morimoto |
|
Designation : |
Director |
|
Address : |
3-807, 4- Chome, Hara Chou, Suita City, Osaka, Japan – 5650871 |
|
Date of Birth/Age : |
05.11.1962 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310980 |
|
|
|
|
Name : |
Mr. Motohiro Takashi Nakai |
|
Designation : |
Director |
|
Address : |
G-501, Central Park – I, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
10.11.1959 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310997 |
|
|
|
|
Name : |
Mr. Akira Nagamori |
|
Designation : |
Director |
|
Address : |
A-151, Ashiana Green Hills, ST1, GH1, RIICO Industrial Area, Neemrana
District, Alwar-301705, Rajasthan, India |
|
Date of Birth/Age : |
15.09.1964 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
06639651 |
|
|
|
|
Name : |
Mr. Sanjay Goyal |
|
Designation : |
Director |
|
Address : |
House No. – 1474, Sector – 16, Faridabad, Haryana – 121002, India. |
|
Date of Birth/Age : |
28.11.1965 |
|
Date of Appointment : |
26.09.2011 |
|
DIN No.: |
06972383 |
|
|
|
|
Name : |
Mr. Rohit |
|
Designation : |
Director |
|
Address : |
B – 605/606, Som Vihar Apartments, Sector – 12, R.K. Puram, New Delhi
– 110019, India. |
|
Date of Birth/Age : |
25.08.1970 |
|
Date of Appointment : |
22.05.2009 |
|
DIN No.: |
00453642 |
|
|
|
|
Name : |
Mr. Toshio Akio Nakano |
|
Designation : |
Director |
|
Address : |
15-27, Shoei-cho, Kawachinago-shi, Osaka, Japan-5860025 |
|
Date of Birth/Age : |
19.12.1944 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310877 |
|
|
|
|
Name : |
Mr. Kaoru Engauchi |
|
Designation : |
Director |
|
Address : |
14-4-311, Mitsuzawashimomachi, Kanagawa – Ku, Yokohama, Kanagawa,
Japan-2210852 |
|
Date of Birth/Age : |
27.07.1962 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
05238854 |
|
|
|
|
Name : |
Shuichi Hatanaka |
|
Designation : |
Director |
|
Address : |
E-211,Park Place, DLF Phase V, Gurgaon - 122002, Haryana, India |
|
Date of Appointment : |
14.05.2015 |
|
DIN No.: |
07148584 |
|
|
|
|
Name : |
Hiroaki Suenaga |
|
Designation : |
Director |
|
Address : |
Villa 08,Ashiana Green Hills,St1,Gh1, RIICO Industrial Area, Neemrana, Alwar - 301705, Rajasthan, India |
|
Date of Appointment : |
23.02.2015 |
|
DIN No.: |
07090546 |
KEY EXECUTIVESZ
|
Name : |
Mr. Roopesh Jain |
|
Designation : |
Secretary |
|
Address : |
B-8/2, Vallabh Vihar, Plot -14, Sector -13, Rohini, New Delhi-110085,
India |
|
Date of Birth/Age : |
26.09.1976 |
|
Date of Appointment : |
26.09.2011 |
|
PAN No.: |
AFBPJ4278B |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Daikin Industries Limited, Japan |
|
80292389 |
|
Daikin Airconditioning (Singapore) Pte Limited, Singapore |
|
1 |
|
|
|
|
|
Total |
|
80292390 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of selling of air
conditioning equipment and chillers. [Registered Activity] |
|
|
|
|
Products/ Services : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF Phase II, Gurgaon – 122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Daikin Industries Limited |
|
|
|
|
Fellow Subsidiary
company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,02,92,390 |
Equity Shares |
Rs.10/- each |
Rs. 8029.239
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 |
8029.239 |
8029.239 |
4729.239 |
|
(b) Reserves & Surplus |
168.365 |
(353.747) |
(190.349) |
|
(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) |
8197.604 |
7675.492 |
4538.890 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.680 |
3.487 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
91.457 |
82.471 |
67.617 |
|
(d) long-term
provisions |
66.015 |
41.874 |
38.458 |
|
Total Non-current
Liabilities (3) |
158.152 |
127.832 |
106.075 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
800.000 |
2474.900 |
|
(b) Trade
payables |
3150.436 |
2675.588 |
4262.420 |
|
(c) Other
current liabilities |
868.186 |
639.073 |
645.925 |
|
(d) Short-term
provisions |
346.223 |
136.221 |
76.268 |
|
Total Current
Liabilities (4) |
4364.845 |
4250.882 |
7459.513 |
|
|
|
|
|
|
TOTAL |
12720.601 |
12054.206 |
12104.478 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2289.502 |
2215.639 |
2406.993 |
|
(ii)
Intangible Assets |
14.170 |
18.092 |
16.083 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.000 |
|
(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) |
85.208 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
503.074 |
364.814 |
286.205 |
|
(e) Other
Non-current assets |
3.903 |
0.366 |
0.366 |
|
Total Non-Current
Assets |
2895.857 |
2598.911 |
2710.647 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5556.320 |
6984.482 |
7339.147 |
|
(c) Trade
receivables |
1167.943 |
1264.861 |
886.869 |
|
(d) Cash
and cash equivalents |
2686.100 |
651.967 |
673.775 |
|
(e)
Short-term loans and advances |
408.005 |
553.790 |
493.845 |
|
(f) Other
current assets |
6.376 |
0.195 |
0.195 |
|
Total
Current Assets |
9824.744 |
9455.295 |
9393.831 |
|
|
|
|
|
|
TOTAL |
12720.601 |
12054.206 |
12104.478 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
19845.996 |
17943.477 |
|
|
|
Other Income |
282.579 |
260.898 |
|
|
|
TOTAL |
20128.575 |
18204.375 |
16037.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7900.911 |
4507.938 |
|
|
|
Purchases of Stock-in-Trade |
4567.527 |
8959.381 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1319.317 |
751.126 |
|
|
|
Employees benefits expense |
1193.743 |
979.016 |
|
|
|
Other expenses |
4069.898 |
2567.168 |
|
|
|
TOTAL |
19051.396 |
17764.629 |
15538.000 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1077.179 |
439.746 |
499.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
110.145 |
119.745 |
69.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
967.034 |
320.001 |
430.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
530.130 |
476.071 |
373.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
436.904 |
(156.070) |
57.000 |
|
|
|
|
|
|
|
Less |
TAX |
(85.208) |
7.328 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
522.112 |
(163.398) |
57.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.50 |
(2.88) |
(0.70) |
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) operations |
3.614 |
(1.232) |
(2.450) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.63 |
(0.91) |
0.36 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.43 |
2.45 |
3.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.46 |
(1.29) |
0.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
(0.02) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.10 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25 |
2.22 |
1.26 |
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 |
4729.239 |
8029.239 |
8029.239 |
|
Reserves & Surplus |
(190.349) |
(353.747) |
168.365 |
|
Net
worth |
4538.890 |
7675.492 |
8197.604 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
3.487 |
0.680 |
|
Short term borrowings |
2474.900 |
800.000 |
0.000 |
|
Total
borrowings |
2474.900 |
803.487 |
0.680 |
|
Debt/Equity
ratio |
0.545 |
0.105 |
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 |
16037.000 |
17943.477 |
19845.996 |
|
|
|
11.888 |
10.603 |
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 |
16037.000 |
17943.477 |
19845.996 |
|
Profit |
57.000 |
(163.398) |
522.112 |
|
|
0.36% |
(0.91%) |
2.63% |
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The registered office of the company has been shifted
from 2th Floor, Suryakiran Building, 19 Kasturba Gandhi Marg, New Delhi –
110001, Delhi, India to present address w.e.f. 22.12.2006
LITIGATION DETAILS
|
IN THE HIGH
COURT OF DELHI AT NEW DELHI ITA 130/2013 COMMISSIONER OF
INCOME TAX DELHI IV……….Appellant Through : Mr.
Puneet Gupta for Mr. Sanjeev Sabharwal Versus DAIKIN AIR
CONDITIONING INDIA PRIVATE LIMITED………Respondent Through : None CORAM: HON’BLE MR
JUSTICE BADAR DURREZ AHMED HON’BLE MR
JUSTICE R. V. EASWAR O R D E R 13.03.2013 CM3929/2013 Allowed subject
to all just exceptions. ITA 130/2013 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Long-term maturities of finance lease obligations |
0.680 |
3.487 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand |
0.000 |
800.000 |
|
Total |
0.680 |
803.487 |
|
|
|
|
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Building
- Plant and
Equipments
- Office
Equipments
- Computer
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 |
|
UK Pound |
1 |
Rs. 98.30 |
|
Euro |
1 |
Rs. 72.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.