MIRA INFORM REPORT
|
Report No. : |
304671 |
|
Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNILEVER INDIA EXPORTS LIMITED |
|
|
|
|
Formerly Known
As : |
Indexport LIMItEd |
|
|
|
|
Registered
Office : |
Unilever House, B. D. Sawant Marg, Chakala, Andheri (East), Mumbai –
400099, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.06.1963 |
|
|
|
|
Com. Reg. No.: |
11-012667 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.750 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1963PLC012667 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI0991D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Fast Moving Consumer Goods (FMCG). |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 is a subsidiary of “Hindustan Unilever Limited”. It is an well-established company having
fine track record. The rating
reflects company’s healthy financial risk profile marked by strong liquidity
position and decent profitability levels of the company. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitment. 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Not Divulged |
|
Designation : |
Operator |
|
Contact No.: |
91-22-39830000 |
|
Date : |
21.01.2015 |
LOCATIONS
|
Registered Office : |
Unilever House, B. D. Sawant Marg, Chakala, Andheri (East), Mumbai –
400099, Maharashtra, India |
|
Tel. No.: |
91-22-39830000 / 39832567 / 39832557 / 39832532 |
|
Fax No.: |
91-22-22855686/ 22026712/ 28249457 |
|
E-Mail : |
ashok.gupta@unilever.com arnaz.bhesania@unilever.com santosh.singh@unilever.com santosh.sinhh@unilever.com |
|
Website : |
www.unilever.com |
|
|
|
|
Factory : |
Shed Nos. 177 and 178, Sector - 1, Plot Nos 253-257, Sector IV, Kandla Special Economic Zone, Kandla – 370230, Gujarat, India |
DIRECTORS
As on: 25.07.2013
|
Name : |
Mr. Sridhar Ramamurthy |
|
Designation : |
Director |
|
Address : |
1805, 18th Floor, Oberoi Splendor, Tower B, JVLL,
OppositeMajas Depot, Andheri (East), Mumbai – 4000060, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1964 |
|
Qualification : |
B.Com, ACA, ACS,AICWA |
|
Date of Appointment : |
22.06.2009 |
|
DIN No.: |
02557168 |
|
|
|
|
Name : |
Mr. Hemant Sudarshan Bakshi |
|
Designation : |
Director |
|
Address : |
1, Alhambra, 3, Carmichael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1964 |
|
Qualification : |
B. Tech(Chem), PGDM(IIMA) |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
02362738 |
|
|
|
|
Name : |
Mr. Devopam Narendra Bajpai |
|
Designation : |
Director |
|
Address : |
Heghdoot Tower, A Lokhandwala Back Road, Lokhandwala, Andheri (West) ,
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1965 |
|
Qualification : |
B.Com, LLB, FCS |
|
Date of Appointment : |
23.07.2012 |
|
DIN No.: |
00050516 |
|
|
|
|
Name : |
Mr. Pradeep Jyoti Banerjee |
|
Designation : |
Director |
|
Address : |
507, 5th Floor, As Koka Tower Dr. Ds Rao Road, Parel,
Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
19.10.1958 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
23.07.2012 |
|
DIN No.: |
02985965 |
|
|
|
|
Name : |
Biddappa Ponnappa Bittianda |
|
Designation : |
Director |
|
Address : |
Flat No.6, Alhambra, 3 Carmichael Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
13.12.1966 |
|
Date of Appointment : |
25.07.2013 |
|
DIN No.: |
06586886 |
MAJOR SHAREHOLDERS
As on: 25.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hindustan Unilever Limited, |
|
2974994 |
|
Levers Associated Trust Limited, |
|
1 |
|
A Lalvani Joint With Hindustan Unilever Limited, India |
|
1 |
|
R. Sridhar Joint With Hindustan Unilever Limited, India |
|
1 |
|
Dev Bajpai Joint With Hindustan Unilever Limited, India |
|
1 |
|
Tiwari Ritesh Joint With Hindustan Unilever Limited, India |
|
1 |
|
Biddappa Ponnappa Bittianda Joint With Hindustan Unilever Limited,
India |
|
1 |
|
|
|
|
|
Total |
|
2975000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.07.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Fast Moving Consumer Goods
(FMCG). |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
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|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252,
Swatantryaveer Savarkar Rashtriya Smarak, Veer Savarkar Marg, Shivaji Park,
Dadar (West), Mumbai, Maharashtra – 400 028, Maharashtra, India |
|
PAN.: |
AABFL5878L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Hindustan Unilever Limited L15140MH1933PLC002030 |
|
|
|
|
Ultimate Holding
Company : |
Unilever PLC |
|
|
|
|
Fellow Subsidiary
Company : |
|
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2975000 |
Equity Shares |
Rs.10/- each |
Rs.29.750 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
29.750 |
29.750 |
29.750 |
|
(b) Reserves & Surplus |
3503.407 |
2569.903 |
2188.088 |
|
(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) |
3533.157 |
2599.653 |
2217.838 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
39.059 |
|
(c) Other long term
liabilities |
30.182 |
18.782 |
19.470 |
|
(d) long-term provisions |
8.459 |
7.418 |
3.948 |
|
Total
Non-current Liabilities (3) |
38.641 |
26.200 |
62.477 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1379.342 |
1730.996 |
2379.132 |
|
(c) Other current liabilities |
482.074 |
232.706 |
77.056 |
|
(d) Short-term provisions |
660.296 |
810.741 |
146.123 |
|
Total
Current Liabilities (4) |
2521.712 |
2774.443 |
2602.311 |
|
|
|
|
|
|
TOTAL |
6093.510 |
5400.296 |
4882.626 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
733.536 |
729.039 |
673.195 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
22.885 |
16.836 |
113.582 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.890 |
2.890 |
2.890 |
|
(c) Deferred tax assets (net) |
173.955 |
38.773 |
0.000 |
|
(d) Long-term Loan and Advances |
104.980 |
105.828 |
119.123 |
|
(e) Other Non-current assets |
0.235 |
0.108 |
0.000 |
|
Total
Non-Current Assets |
1038.481 |
893.474 |
908.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
426.000 |
0.000 |
|
(b) Inventories |
961.694 |
1068.074 |
890.696 |
|
(c) Trade receivables |
1852.416 |
1483.546 |
1792.230 |
|
(d) Cash and cash equivalents |
2093.040 |
1336.363 |
1085.057 |
|
(e) Short-term loans and
advances |
142.104 |
181.738 |
197.842 |
|
(f) Other current assets |
5.775 |
11.101 |
8.011 |
|
Total
Current Assets |
5055.029 |
4506.822 |
3973.836 |
|
|
|
|
|
|
TOTAL |
6093.510 |
5400.296 |
4882.626 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
10304.614 |
10625.382 |
10484.851 |
|
|
Other Income |
274.577 |
106.975 |
73.691 |
|
|
TOTAL
(A) |
10579.191 |
10732.357 |
10558.542 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of materials consumed |
3946.568 |
3997.297 |
5330.934 |
|
|
Purchases of stock-in-trade |
2625.337 |
2926.986 |
935.389 |
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(48.706) |
65.189 |
813.135 |
|
|
Employee benefit expense |
377.737 |
401.873 |
482.564 |
|
|
Other expenses |
1453.025 |
1611.957 |
1589.132 |
|
|
Exceptional items |
(100.592) |
26.846 |
0.000 |
|
|
TOTAL
(B) |
8253.369 |
9030.148 |
9151.154 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2325.822 |
1702.209 |
1407.388 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.738 |
0.168 |
3.22 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2317.084 |
1702.041 |
1404.168 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
96.887 |
96.084 |
101.576 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
2220.197 |
1605.957 |
1302.592 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
701.718 |
529.161 |
328.544 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
1518.479 |
1076.796 |
974.048 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1469.982 |
1195.846 |
221.798 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
151.848 |
694.981 |
0.000 |
|
|
Dividend |
584.975 |
107.679 |
0.000 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
2251.638 |
1469.982 |
1195.846 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9933.368 |
9913.699 |
10336.362 |
|
|
TOTAL
EARNINGS |
9933.368 |
9913.699 |
10336.362 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
510.41 |
361.95 |
327.41 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
14.74 |
10.13 |
9.29 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
22.57 |
16.02 |
13.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.67 |
30.06 |
27.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63 |
0.62 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00 |
1.62 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
29.750 |
29.750 |
29.750 |
|
Reserves & Surplus |
2188.088 |
2569.903 |
3503.407 |
|
Net
worth |
2217.838 |
2599.653 |
3533.157 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10484.851 |
10625.382 |
10304.614 |
|
|
|
1.340 |
(3.019) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10484.851 |
10625.382 |
10304.614 |
|
Profit |
974.048 |
1076.796 |
1518.479 |
|
|
9.29% |
10.13% |
14.74% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from Hindustan Lever House, 165/166, Backbay Reclamation, Mumbai – 400 020, Maharashtra, India to the present address w.e.f. 01.01.2012.
OPERATIONAL REVIEW
The Company, post transfer of FMCG Exports business from the holding company, Hindustan Unilever Limited in 2011, has successfully recast itself into two units, one focused on driving cross border sourcing of FMCG products to other Unilever companies across the world and the other on developing overseas markets by driving distribution of ethnic brands among the Indian diaspora in international markets. The locally developed brands’ distribution has got increased impetus through active support from Unilever team which has helped establish relations with large global distributors to make inroads in new geographies and channels. The strategy of a dedicated business unit driving distribution of locally developed brands, such as Kissan, BRU, Brooke Bond, Lakmé, Pears, through leveraging the larger Unilever network has yielded strong growth in these brands.
The Home and Personal Care segment of the business has witnessed a stable year, driven primarily by Soaps and Hair Care. Brands like Pears have registered healthy growth in the focused markets through strong advertising and activation support and have received strong accolades from the consumers in the UK market. For Unilever sourcing countries, Lifebuoy has delivered double digit growth post its launch across Asian markets. Fair and Lovely and Vaseline Jelly continue to show stable growth in the key geographies of the Middle East. The Foods and Beverages segment of the business witnessed a modest growth. Instant Tea / Packet Tea and premix witnessed strong double digit growth, whereas Coffee sales remained steady. The profitability of the Company improved significantly with focused cost reduction programmes.
The Company continues to receive support from the holding company, Hindustan Unilever Limited to drive growth of exports business.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particular |
31.03.2014 |
31.03.2013 |
|
Claims against the company not acknowledged as debts. |
|
|
|
Sales tax matters - Gross Rs. 6.680 Millions (Previous year: Rs. 6.680 Millions) |
10.440 |
4.513 |
|
Income-tax matters |
0.130 |
0.130 |
|
Import Bank guarantees |
1.700 |
3.000 |
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Computer Equipments
AS PER WEBSITE DETAILS
Press Release
UNILEVER INDIA
EXPORTS LIMITED TO TRANSFER SANGAM BUSINESS TO WADHAWAN FOOD RETAIL
04.04.2007
The Sangam business was conceptualized in 2001 to experiment with the direct to consumer channel combining the twin benefits of convenience and value. The idea was to test market it in Mumbai under the brand “Sangam Direct”, before taking a decision to extend it across the country.
The business operates a dedicated call centre with trained personnel for order procurement and a network of re-distribution centres. The decision for a larger roll out was put on hold in the context of evolving/changing retail scenario in the country. Although Project Sangam has met many of its business milestones successfully, HLL believes that it is not in its strategic interest to continue to be present in this format of organized retail.
HLL believes that with this sale to WFRL, an emerging player in the retail industry, the Sangam business will have a fair opportunity to realize its full potential through synergies from the physical store formats and the focus and expansion plans of the Wadhawan group. The turnover and transaction value is not of material value to HLL.
The Wadhawan Food Retail Private Limited (WFRL) is currently present in Mumbai through its retail Food and Grocery store “Spinach” which manages about 23 outlets in the city. The flagship, Wadhawan group, has diversified business interests including DHFL, a housing finance company in the private sector.
COMPANY OVERVIEW
OF UNILEVER INDIA EXPORTS LIMITED
August 06, 2014
Unilever India Exports Limited provides grocery home shopping services in Mumbai. The company offers a range of branded and unbranded products. Its product catalog includes baby care products, beverages, books, dairy products/frozen products, dry fruits, edible fats, grocery products, health foods, home care products, personal care products, pet care products, ready to eat products, seasonal items, spices, vegetables, provisions, cosmetics, pharmaceuticals, chocolates, cooking oils, snacks, detergents, and toiletries. The company home delivers the products by taking orders through the Web site or Phone from the Customers. The company was formerly known as Indexport, limited.
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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
|
|
HISTORY |
|
68 |
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.