MIRA INFORM REPORT

 

 

Report No. :

325410

Report Date :

02.06.2015

 

IDENTIFICATION DETAILS

 

Name :

MAKEMYTRIP (INDIA) PRIVATE LIMITED [w.e.f. 28.06.2002]

 

 

Formerly Known As :

TRAVEL BY WEB PRIVATE LIMITED

 

 

Registered Office :

UG-7, (Front Side), TDI Mall, Rajouri Garden, New Delhi -110027, Delhi

Tel. No.:

91-124-4395000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.04.2000

 

 

Com. Reg. No.:

55-105210

 

 

Capital Investment / Paid-up Capital :

Rs. 2278.300 Million

 

 

CIN No.:

[Company Identification No.]

U63040DL2000PTC105210

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELM10603F

 

 

PAN No.:

[Permanent Account No.]

AADCM5146R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The Company is engaged in the business of selling travel products and solutions.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 2800000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of MAKEMY TRIP LIMITED. It is an established company having moderate track.

 

The company has incurred heavy loss from its operations during FY2014 and FY2013. However the subject has strong financial and managerial support from its parent company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealing with some caution.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

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

 

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 31-03-2014.

 

INFORMATION DECILNED

 

Management non cooperative (91-124-4395000)

 

LOCATIONS

 

Registered Office :

UG-7, (Front Side), TDI Mall, Rajouri Garden, New Delhi – 110027, India

Tel. No.:

91-124-4395000

Fax No.:

91-124-4395100

E-Mail :

kamal.avutapalli@makemytrip.com

Website :

http://www.makemytrip.com

 

 

Head Office :

103 Udyog Vihar Phase – 1, Gurgaon – 122016, Haryana, India

Tel. No.:

91-124-4395000

Fax No.:

91-124-4395100

 

 

Branches :

Gurgaon :

Tower A, SP Infocity 243, Udyog Vihar, Phase 1, Gurgaon, Haryana - 122016, India

 

Ahmedabad

4rth Floor, Arvind Avenue, C.G. Road, Ahmedabad, India.

Tel No.: 079 - 40218747/8600/8687

 

Bengaluru

Unit No. 301, Cears Plaza, 136 Residency Road, Bengaluru - 560025, India.

Tel No.: 080 - 41138747

 

Chennai

Shop G 6, Ground Floor, Gee Gee Emerald, 151 Village Road Nungambakkam, Chennai-600034, India.

Tel No.: 044-4261 8747

 

Hyderabad

First Floor, ABK-OLBEE Plaza,  Opp. Care Hospital, Road No. 1, Banjara Hills, Hyderabad, India.

Tel No.: 040-4032 8747

 

Kolkata

S-201, 2nd Floor, Ideal Plaza, 11/1 Sarat Bose Road, Kolkata-700020, India. P Tel No.: 033-4005 8747/8687

 

Mumbai

3rd floor Premier House, Central Road, MIDC, Andheri East, Mumbai-400093, India.

Tel No.: 022-4064 8687/8747

 

Pune

Shop No. 14, 1st Floor, PT Gera Complex, Bund Garden Road, Pune, India.

Tel No.: 020-4007 7755

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Deep Kalra

Designation :

Whole-time director

Address :

J-6/11A, DLF Phase II, Gurgaon -122002, Haryana, India

Date of Birth/Age :

06.07.1996

Qualification :

MBA

Date of Appointment :

13.04.2000

DIN No.:

00039609

PAN No.:

AAAPK4894J

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U63040DL2000PTC105210

MAKEMYTRIP (INDIA) PRIVATE LIMITED

Whole-time director

13/04/2000

13/04/2000

-

Active

NO

2

U72900DL2000PTC105592

TRAVOGUE ELECTRONIC TRAVEL PRIVATE LIMITED.

Director

08/05/2000

08/05/2000

-

Active

NO

3

U18101RJ2005PTC021793

NEEMRANA KNITFAB PRIVATE LIMITED

Director

21/12/2005

21/12/2005

15/03/2011

Active

NO

4

U74899DL1999PLC101534

INDIAMART INTERMESH LIMITED

Director

01/09/2009

04/05/2009

11/05/2012

Active

NO

5

U72200DL2000PLC108985

ONE 97 COMMUNICATIONS LIMITED

Director

29/09/2010

15/01/2010

27/04/2012

Active

NO

 

 

Name :

Mr. Rajesh Magow

Designation :

Whole Time Director

Address :

903 Ground Floor, Nav Sansad Vihar, Plot No-4, Sector -22, Dwarka, Phase – 1, New Delhi - 110075

Date of Birth/Age :

20.10.1968

Date of Appointment :

15.04.2013

DIN No.:

00195044

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72300MH2001PTC205649

TECNOVATE ESOLUTIONS PRIVATE LIMITED

Director

21/12/2001

21/12/2001

05/06/2006

Amalgamated

NO

2

U72900DL2003PTC120371

GTA DATA SERVICES (INDIA) PRIVATE LIMITED

Director

16/12/2005

16/12/2005

05/06/2006

Dormant

NO

3

U72200KA2008PTC048012

FLIPKART ONLINE SERVICES PRIVATE LIMITED

Director

30/09/2011

01/03/2011

09/05/2012

Active

NO

4

U63040DL2000PTC105210

MAKEMYTRIP (INDIA) PRIVATE LIMITED

Director

30/09/2013

15/04/2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. A Kamal Kishore

Designation :

Secretary

Address :

303, MS 1, Kendriya Vihar, Sector 56, Gurgaon – 122016, Haryana, India

Date of Birth/Age :

08.07.1981

Date of Appointment :

28.10.2009

PAN No.:

AFUPA2727B

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2014

 

Names of Shareholders

 

No. of Shares

MakeMyTrip Limited, Mauritius

 

227830025

MakeMyTrip Inc., USA

 

2

Total

 

227830027

 

Equity Share Break up (Percentage of Total Equity)

 

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 :

The Company is engaged in the business of selling travel products and solutions.

 

 

Products :

Item Code No. (ITC Code)

Product Description

99855400

Tour Operator Services

99642410

Air ticketing

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

 

Banker Name :

Indusind Bank Limited

Branch Address :

Dr. Gopal Das Building, 28, Barakhamba Road, New Delhi - 110001, Delhi, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India

 

  • Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term loans from banks

9.760

9.682

Total

9.760

9.682

 

Auditors :

 

Name :

BSR and Associates

Chartered Accountants

Address :

Building No.10, 8th Floor, Tower B, DLF Cyber City, Phase – II, Gurgaon- 122002, Haryana, India

PAN.:

AADFB6889R

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company :

MakeMyTrip Limited, Mauritius

 

 

Fellow Subsidiary company :
  • MakeMyTrip Inc., United States
  • Luxury Tours and Travel Pte Limited, Singapore
  • Luxury Tours (Malaysia) Sdn Bhd, Malaysia
  • Hotel Travel Limited, Malaysia
  • ITC Bangkok Company Limited, Thailand
  • 7237880 Canada Limited, Canada
  • MakeMyTrip FZ-LLC, United Arab Emirates

 

 

CAPITAL STRUCTURE

 

After 29.09.2014

 

Authorised Capital : Rs.2500.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs.2309.326 Million

 

 

As on 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250,000,000

Equity Shares

Rs.10/- each

Rs.2500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

227,830,027

Equity Shares

Rs.10/- each

Rs.2278.300 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2278.300

2278.300

2278.300

(b) Reserves & Surplus

(1305.855)

(700.610)

85.050

(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)

972.445

1577.690

2363.350

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

9.760

9.682

4.429

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

1310.564

1061.749

471.164

(d) long-term provisions

64.228

41.852

27.185

Total Non-current Liabilities (3)

1384.552

1113.283

502.778

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

2220.458

2578.183

1654.031

(c) Other current liabilities

2158.575

958.017

879.309

(d) Short-term provisions

45.308

13.214

8.211

Total Current Liabilities (4)

4424.341

3549.414

2541.551

 

 

 

 

TOTAL

6781.338

6240.387

5407.679

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

376.118

397.355

352.947

(ii) Intangible Assets

425.170

243.794

154.812

(iii) Capital work-in-progress

73.706

190.136

108.033

(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

552.426

489.160

429.773

(e) Other Non-current assets

0.170

6.330

3.952

Total Non-Current Assets

1427.590

1326.775

1049.517

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

68.168

123.032

(c) Trade receivables

1242.840

984.249

1020.521

(d) Cash and cash equivalents

2081.284

2530.294

1982.434

(e) Short-term loans and advances

1958.735

1273.491

1145.490

(f) Other current assets

70.889

57.410

86.685

Total Current Assets

5353.748

4913.612

4358.162

 

 

 

 

TOTAL

6781.338

6240.387

5407.679

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income from Operations

13401.700

11153.200

8898.100

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(605.244)

(738.400)

191.800

 

 

 

 

 

Less

TAX (H)

0.000

47.260

2.182

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(605.244)

(785.660)

189.618

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

4120.973

4377.935

3691.371

 

TOTAL EARNINGS

4120.973

4377.935

3691.371

 

 

 

 

 

 

Earnings Per Share (Rs.)

(2.66)

(3.45)

0.86

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

3.857

4.011

2.412

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Income)

(%)

(4.52)

(7.04)

2.13

 

 

 

 

 

Operating Profit Margin

(PBIDT/ Income)

(%)

(4.52)

(6.62)

2.16

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

99.02)

(12.20)

3.62

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.62)

(0.47)

0.08

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.01

0.01

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.21

1.38

1.71

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2278.300

2278.300

2278.300

Reserves & Surplus

85.050

(700.610)

(1305.855)

Net worth

2363.350

1577.690

972.445

 

 

 

 

long-term borrowings

4.429

9.682

9.760

Short term borrowings

0.000

0.000

0.000

Current Maturities of Long-Term Debts

2.412

4.011

3.857

Total borrowings

6.841

13.693

13.617

Debt/Equity ratio

0.003

0.009

0.014

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Income from Operations

8898.100

11153.200

13401.700

 

 

25.344

20.160

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Income from Operations

8898.100

11153.200

13401.700

Profit

189.618

(785.660)

(605.244)

 

2.13%

(7.04%)

(4.52%)

 

 

 

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

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

 

NOTE: Registered office of the company has been shifted from 2nd Floor, Plaza Cinema Building, H - Block, Connaught Place, New Delhi-110001, Delhi, India to the present address w.e.f. 21.05.2011

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10566306

31/03/2015

1,100,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C52118254

2

10565631

31/03/2015

1,250,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C51753093

3

10563264

06/01/2015

3,250,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C50811579

4

10543387

28/10/2014

430,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C40636169

5

10542246

18/10/2014

3,900,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C40052540

6

10541543

28/08/2014

1,255,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C39734173

7

10542245

25/07/2014

1,300,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C40051070

8

10541222

15/07/2014

1,082,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C39562202

9

10507363

24/05/2014

1,250,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C09274911

10

10506063

05/05/2014

4,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C09274630

 

* Date of charge modification

 

 

FIXED ASSETS

Ø  Computers

Ø  Office equipments

Ø  Furniture and fixtures

Ø  Motor vehicles

Ø  Leasehold improvements

Ø  Diesel generator sets

 

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 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.63.61

UK Pound

1

Rs.97.26

Euro

1

Rs.69.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

GAY

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

1

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

1

--CREDIT LINES

1~10

3

--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

 

30

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.