MIRA INFORM REPORT
|
Report No. : |
325562 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOTO
INDIA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.101, First Floor, Kamla Executive Park,
Off Andheri Kurla Road, MIDC Lane, Andheri (East), Mumbai – 400 059,
Maharashtra |
|
Tel. No.: |
91-22-28325741 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation
: |
23.01.2011 |
|
|
|
|
Com. Reg. No.: |
11-212662 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3000.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120MH2011FTC212662 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT16561G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT7270M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of sanitary wares, sanitary
wares accessories and spares parts of the accessories for all kinds of
sanitary ware. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having moderate track record. Management of the
company has failed to file its financials with the Government Department for
the FY 2014. As per the
financials of 2013, company has reported accumulated losses from its
operations. However business
is active as per the status shown in the registrar of companies. Trade
relations are fair. Payment terms are reported to be slow but correct. Subject can be
considered for business dealings 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
|
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
31-03-2013.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Ms. Nalini |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-28325741 |
|
Date : |
01.06.2015 |
LOCATIONS
|
Registered Office/ Head Office : |
Unit No.101, First Floor, Kamla Executive Park, Off
Andheri Kurla Road, MIDC Lane, Andheri (East), Mumbai – 400 059, Maharashtra,
India |
|
Tel. No.: |
91-22-28325741/ 42 |
|
Fax No.: |
91-22-40223719 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Survey No.1540-P, Halol Industrial Area,
Village-Chandrapura, Taluka Halol, Panchmahal, Near General Motors, Vadodara
– 389 350, Gujarat, India |
|
Tel. No.: |
91-267-6661500 |
|
|
|
|
Branch Office : |
909-909A, 9th Floor, E Block, International
Trade Tower, Nehru Place, New Delhi – 110
019, India |
|
Tel. No.: |
91-11-46542421/ 122, 43177300 |
|
Fax No.: |
91-11-46542430 |
|
|
|
|
Project Office : |
303, C Tower, Shri Siddhivinayak Complex, Framaji
Compound, Alkapur, Vadodara – 390 007,
Gujarat, India |
DIRECTORS
AS ON 16.04.2014
|
Name : |
Mr.
Tatsuhiko Yasaka |
|
Designation : |
Managing
director |
|
Address : |
695
Kuranari oaza Yamagamachi, Kitsukicity Oitaprefecture, 8791305, Japan |
|
Date of Birth/Age : |
06.06.1968 |
|
Date of Appointment : |
25.01.2011
|
|
DIN No.: |
03273059 |
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 |
U74120MH2011FTC212662 |
TOTO INDIA INDUSTRIES
PRIVATE LIMITED |
Managing director |
25/01/2011 |
23/01/2011 |
- |
Active |
NO |
|
Name : |
Mr.
Hiroshi Tanie |
|
Designation : |
Director |
|
Address : |
31,
Cairnhill Circle, # 16-01, Singapore, 229774, Singapore |
|
Date of Birth/Age : |
22.03.1965 |
|
Date of Appointment : |
16.04.2012
|
|
DIN No.: |
03567202 |
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 |
U74120MH2011FTC212662 |
TOTO INDIA INDUSTRIES PRIVATE
LIMITED |
Director |
16/04/2012 |
28/06/2011 |
- |
Active |
NO |
|
Name : |
Mr.
Satoshi Horiuchi |
|
Designation : |
Director |
|
Address : |
2-7-7-502,
Katano Shin Hachi, Kokurakitaku, Kitakyushu, Japan |
|
Date of Birth/Age : |
04.10.1966 |
|
Date of Appointment : |
30.04.2013 |
|
DIN No.: |
06562152 |
|
|
|
|
Name : |
Mr.
Takuya Nakajima |
|
Designation : |
Director |
|
Address : |
9-10-21-106,
Kitami, Setagaya-KU, Tokyo, NA, Japan |
|
Date of Birth/Age : |
22.12.1966 |
|
Date of Appointment : |
30.04.2013 |
|
DIN No.: |
06552075 |
|
|
|
|
Name : |
Mr.
Toshikatsu Kondo |
|
Designation : |
Director |
|
Address : |
B-1301,
Avalon, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1971 |
|
Date of Appointment : |
30.04.2013 |
|
DIN No.: |
06562498 |
|
|
|
|
Name : |
Mr.
Soichi Abe |
|
Designation : |
Director |
|
Address : |
2-1-52-307,
Shitoku Kokuraminami-ku, Kitakyushu, 8020983, Japan |
|
Date of Birth/Age : |
22.08.1961 |
|
Date of Appointment : |
23.01.2011 |
|
DIN No.: |
03257756 |
|
|
|
|
Name : |
Akira
Kamizawa |
|
Designation : |
Director |
|
Address : |
801,
3-3-5, Shimoochiai, Sninjyuku-ku, Tokyo, 1610033, Japan |
|
Date of Appointment : |
12.11.2014 |
|
DIN No.: |
07012932 |
KEY EXECUTIVES
|
Name : |
Ms. Nalini |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Shankar Sundaresan Iyer |
|
Designation : |
Secretary |
|
Address : |
A-6/4,
Amravan CHS, Flat No.35, LIC Colony, Borivali (West), Mumbai – 400 103,
Maharashtra, India |
|
Date of Appointment : |
14.07.2014 |
|
PAN No.: |
AAUPI6047F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.04.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
TOTO Asia Oceania Pte. Limited, Singapore
|
244950000 |
69.99 |
|
TOTO Limited, Japan |
50000 |
0.01 |
|
Mitsui and Co. Limited, Japan |
105000000 |
30.00 |
|
Total |
350000000 |
100.00 |
AS ON 16.04.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00* |
* The Company is a subsidiary of a foreign company and all other
shareholders are also foreign companies.
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of sanitary wares,
sanitary wares accessories and spares parts of the accessories for all kinds
of sanitary ware. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment and Credit (30/ 60/ 90 days) |
|
|
|
|
Purchasing : |
Cash, Advance Payment and Credit (30/ 60/ 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
|
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|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding Company (As on
31.12.2013) : |
TOTO Limited, Japan |
|
|
|
|
Holding Company
(As on 31.12.2013) : |
TOTO Asia Oceania Pte. Limited, Singapore |
|
|
|
|
Fellow Subsidiary
Companies (As on 31.12.2013) : |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives (As on 31.12.2013): |
Mitsui and Co. Limited, Japan |
CAPITAL STRUCTURE
AS ON 16.04.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000000 |
Equity Shares |
Rs.10/- each |
Rs.3500.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000000 |
Equity Shares |
Rs.10/- each |
Rs.3500.000 million |
|
|
|
|
|
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3000.000 |
1400.000 |
500.000 |
|
(b) Reserves &
Surplus |
(225.428) |
(231.479) |
(118.169) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
700.000 |
900.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2774.572 |
1868.521 |
1281.831 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
1029.727 |
1111.623 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
1.617 |
0.545 |
0.348 |
|
Total Non-current
Liabilities (3) |
1031.344 |
1112.168 |
0.348 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
102.377 |
98.640 |
98.538 |
|
(c) Other current
liabilities |
239.457 |
50.283 |
27.274 |
|
(d) Short-term provisions |
0.171 |
0.033 |
0.000 |
|
Total Current Liabilities
(4) |
342.005 |
148.956 |
125.812 |
|
|
|
|
|
|
TOTAL |
4147.921 |
3129.645 |
1407.991 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
478.980 |
295.085 |
300.129 |
|
(ii) Intangible Assets |
2.136 |
0.492 |
0.280 |
|
(iii) Capital
work-in-progress |
2478.649 |
1630.719 |
5.152 |
|
(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 |
268.776 |
317.609 |
213.551 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3228.541 |
2243.905 |
519.112 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
118.505 |
82.585 |
58.237 |
|
(c) Trade receivables |
8.711 |
14.698 |
0.177 |
|
(d) Cash and cash
equivalents |
779.712 |
779.080 |
777.730 |
|
(e) Short-term loans and
advances |
6.783 |
9.154 |
5.714 |
|
(f) Other current assets |
5.669 |
0.223 |
47.021 |
|
Total Current Assets |
919.380 |
885.740 |
888.879 |
|
|
|
|
|
|
TOTAL |
4147.921 |
3129.645 |
1407.991 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
434.056 |
|
88.986 |
|
|
|
Other Income |
159.111 |
75.429 |
|
|
|
|
TOTAL |
593.167 |
372.000 |
88.986 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
587.115 |
485.310 |
207.155 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
6.052 |
(113.310) |
(118.169) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
6.052 |
(113.310) |
(118.169) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(231.479) |
(118.169) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(225.427) |
(231.479) |
(118.169) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
18.281 |
14.597 |
40.597 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.02 |
(0.81) |
NA |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.39 |
(38.21) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.36 |
(7.56) |
(8.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.06) |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37 |
0.59 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.69 |
5.95 |
7.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
500.000 |
1400.000 |
3000.000 |
|
Reserves & Surplus |
(118.169) |
(231.479) |
(225.428) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
900.000 |
700.000 |
0.000 |
|
Net worth |
1281.831 |
1868.521 |
2774.572 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
1111.623 |
1029.727 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
1111.623 |
1029.727 |
|
Debt/Equity ratio |
0.000 |
0.595 |
0.371 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
88.986 |
372.000 |
593.167 |
|
|
|
318.043 |
59.453 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
88.986 |
372.000 |
593.167 |
|
Profit |
(118.169) |
(113.310) |
6.052 |
|
|
(132.80%) |
(30.46%) |
1.02% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
CORPORATE INFORMATION
(AS ON 31.12.2013):
The Company was incorporated on January 23, 2011, under the provisions
of Companies Act, 1956, and is a subsidiary of TOTO Asia Oceania Pte. Limited, Singapore
with the primary objective to carry on the business of manufacturing,
repairing, modifying, installing and trading of sanitary wares, sanitary wares
accessories and spare parts of accessories for all kinds of sanitary wares.
INDEX
OF CHARGES
No Charges Exist for Company.
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
·
Office Equipments
Intangible
Assets
·
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, 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.63.85 |
|
UK Pound |
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
28 |
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.