MIRA INFORM REPORT
|
Report No. : |
321119 |
|
Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
JOTUN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
502, 5th Floor, |
|
Tel. No.: |
91-22-28224600 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160431 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1697.083 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24224MH2006PTC160431 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ12022D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ6665J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Liquid Paints and Powder Coatings. |
|
|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 : |
Not Available (Case site not working) |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2014. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The concern can be considered for business dealings with some
cautions. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 PARTED BY
|
Name : |
Mr. Sanjay Gholab |
|
Designation : |
Senior Manager in Taxation and Treasury |
|
Contact No.: |
91-2138-671344 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office : |
502, 5th Floor, |
|
Tel No.: |
91-22-28224600 / 67872100 / 26848932 |
|
Fax No.: |
91-22-28205900 / 26848920 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
D-280, MIDC, Ranjangaon, Shirur, Pune – 412220, Maharashtra, India |
|
Tel. No.: |
91-2138-671300/ 230300/ 671399/ 230399 |
|
Fax No.: |
91-2138-671399/ 230399 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
Located at: · Bhiwandi |
|
|
|
|
Sales Office : |
|
|
Tel No.: |
91-44-28419420/ 28510861 |
|
Fax No.: |
91-44-28419513 |
|
Email : |
|
|
|
|
|
Branch Office 1: |
510, Mansarovar Building, 90, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-40502456 |
|
Fax No.: |
91-1-40506340 |
|
|
|
|
Branch Office 2: |
Located at · Surat |
|
Tel. No.: |
91-261-3994489 |
|
Fax No.: |
91-261-3994493 |
|
Email : |
|
|
|
|
|
Branch Office 3: |
Located at · Chennai |
|
Tel. No.: |
91-44-28419420/ 28510861 |
|
Fax No.: |
91-44-28419513 |
|
Email : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Esben Hersve |
|
Designation : |
Director |
|
Address : |
Orneveien17,
Sadefjord, 003209, Norway |
|
Date of Birth/Age : |
27.06.1960 |
|
Qualification : |
Bachelor Degree
In International Management (BI) |
|
Date of Appointment : |
06.06.2007 |
|
DIN No.: |
02012551 |
|
|
|
|
Name : |
Mr. Richard Roger Chapman |
|
Designation : |
Director |
|
Address : |
6a, Sudbrooke Road, Scothern, Lincoln, Ln2 2uz, London, United Kingdom |
|
Date of Birth/Age : |
27.04.1966 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06520916 |
|
|
|
|
Name : |
Mr. Baard Kristian Tonning |
|
Designation : |
Director |
|
Address : |
Frydenlund, 24 D, 3238 Sandefjord, Norway, Norway |
|
Date of Birth/Age : |
26.05.1968 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06530790 |
|
|
|
|
Name : |
Mr. Peder Anders Bohlin |
|
Designation : |
Director |
|
Address : |
Villa No. 12, Street 51, Off Beach Road, Jumeirah, Dubai, United Arab
Emirates, Dubai, United Arab Emirates |
|
Date of Birth/Age : |
02.06.1952 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06536797 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Kothare |
|
Designation : |
Chief Finance Officer |
|
Address : |
B-402, Aristo Sapphire, 2nd Hasnabad Lane, Near Willingdon
Gymkhana, Mumbai – 400054, Maharashtra, India |
|
Date of Appointment : |
30.05.2014 |
|
PAN No.: |
AAGPK4797E |
|
|
|
|
Name : |
Ms. Flora Das |
|
Designation : |
Secretary |
|
Address : |
C/201, Laxmi Narayan Apartment, Jesal Park, Bhayendar, Mumbai -
401105, Maharashtra, India |
|
Date of Birth/Age : |
19.08.1986 |
|
Date of Appointment : |
12.03.2012 |
|
PAN No.: |
ALXPD8563B |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Jotun AS, Norway |
162848335 |
95.96 |
|
Jotun Powder Coatings AS, Norway |
6860000 |
4.04 |
|
|
|
|
|
Total |
169708335 |
100.00 |
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Liquid Paints and Powder Coatings. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
|
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
|
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Not Divulged |
||||||
|
|
|
||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
·
PSL Limited |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
450 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
14th
Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Membership : |
Not Divulged |
|
|
|
|
Holding Company: |
Jotun AS, Norway |
|
|
|
|
Fellow Subsidiary
company: |
· Jotun Singapore Pte. Limited · Jotun (Malaysia) Sdn. Bhd · Jotun U.A.E. Limited (L.L.C.) · Jotun Paints Europe Limited · Jotun Abu Dhabi Limited. (L.L.C.) · Jotun Thailand Limited · Jotun Cosco Marine Coatings (HK) Co. Limited · Jotun Coatings (Zhangjiagang) Co. Limited · Chokwang Jotun Limited · Jotun Iberica S.A. · Jotun Paints, Inc. · Jotun Boya San. Ve Tic A.S · P.T. Jotun Indonesia · Jotun F.Z.E. · Jotun Italia S.p.A · Jotun Powder Coatings (M) Sdn Bhd · Jotun Powder Coatings UAE Limited. (L.L.C.) · Jotun Paints Co. L.L.C · Jotun Saudia Co. Limited · El-Mohandes Jotun Egypt (S.A.E.) · Jotun Paints (Vietnam) Co. Limited · Jotun Powder Coatings (Thailand) Limited · Jotun Paints South Africa (Pty) Limited · Jotun Australia Pty. Limited · Jotun Powder Coating (CZ) A.S. · Jotun Sverige AB · Jotun Powder Coatings Dubai Branch · Jotun Powder Coatings Saudi Arabia Co. Limited · Jotun Cosco Marine Coatings (Qingdio) Co. Limited · Jotun Danmark A/S · Jotun Powder Coatings AS · Jotun Powder Coatings (N) AS |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
169708335 |
Equity Shares |
Rs.10/- each |
Rs.1697.083 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 |
1697.083 |
1430.417 |
1111.817 |
|
(b) Reserves & Surplus |
(595.233) |
(601.952) |
(640.053) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
68.600 |
|
Total
Shareholders’ Funds (1) + (2) |
1101.850 |
828.465 |
540.364 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
898.875 |
868.320 |
457.380 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
8.675 |
8.086 |
8.341 |
|
(d) long-term
provisions |
0.000 |
5.705 |
29.428 |
|
Total Non-current
Liabilities (3) |
907.550 |
882.111 |
495.149 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
433.164 |
791.843 |
1242.346 |
|
(b) Trade
payables |
525.199 |
491.968 |
572.429 |
|
(c) Other
current liabilities |
242.675 |
227.056 |
174.147 |
|
(d) Short-term
provisions |
23.192 |
27.336 |
23.497 |
|
Total Current
Liabilities (4) |
1224.230 |
1538.203 |
2012.419 |
|
|
|
|
|
|
TOTAL |
3233.630 |
3248.779 |
3047.932 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
643.397 |
622.464 |
681.701 |
|
(ii)
Intangible Assets |
2.726 |
3.572 |
28.503 |
|
(iii)
Capital work-in-progress |
168.834 |
84.041 |
6.894 |
|
(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 |
54.681 |
50.404 |
42.589 |
|
(e) Other
Non-current assets |
0.098 |
0.098 |
0.078 |
|
Total Non-Current
Assets |
869.736 |
760.579 |
759.765 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
632.790 |
656.419 |
904.192 |
|
(c) Trade
receivables |
1102.099 |
1129.263 |
1068.074 |
|
(d) Cash
and cash equivalents |
447.978 |
494.328 |
61.251 |
|
(e)
Short-term loans and advances |
180.460 |
207.556 |
254.488 |
|
(f) Other
current assets |
0.567 |
0.634 |
0.162 |
|
Total
Current Assets |
2363.894 |
2488.200 |
2288.167 |
|
|
|
|
|
|
TOTAL |
3233.630 |
3248.779 |
3047.932 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2913.539 |
2802.364 |
3045.444 |
|
|
|
Other Income |
50.499 |
127.077 |
8.240 |
|
|
|
TOTAL |
2964.038 |
2929.441 |
3053.684 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
3210.941 |
3094.897 |
3212.197 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION |
(246.903) |
(165.456) |
(158.513) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION |
279.711 |
296.443 |
249.846 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX AND AMALGAMATION ADJUSTMENT |
(526.614) |
(461.899) |
(408.359) |
|
|
|
|
|
|
|
|
|
|
AMALGAMATION
ADJUSTMENT |
0.000 |
0.000 |
(1.853) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(526.614) |
(461.899) |
(410.212) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(526.614) |
(461.899) |
(410.212) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1949.325) |
(1487.426) |
(1077.214) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2475.849) |
(1949.325) |
(1487.426) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.10) |
(3.23) |
(3.48) |
|
Expected Sales (2014-2015): Rs.3300.000 Million
The above information has been parted by Mr. Sanjay
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(18.07) |
(16.48) |
(13.47) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(17.18) |
(14.60) |
(13.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.48) |
(0.56) |
(0.76) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.21 |
2.00 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93 |
1.62 |
1.14 |
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 |
1111.817 |
1430.417 |
1697.083 |
|
Reserves & Surplus |
(640.053) |
(601.952) |
(595.233) |
|
Share Application money pending
allotment |
68.600 |
0.000 |
0.000 |
|
Net
worth |
540.364 |
828.465 |
1101.850 |
|
|
|
|
|
|
long-term borrowings |
457.380 |
868.320 |
898.875 |
|
Short term borrowings |
1242.346 |
791.843 |
433.164 |
|
Total
borrowings |
1699.726 |
1660.163 |
1332.039 |
|
Debt/Equity
ratio |
3.146 |
2.004 |
1.209 |
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 |
|
Sales |
3045.444 |
2802.364 |
2913.539 |
|
|
|
(7.982) |
3.967 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
3045.444 |
2802.364 |
2913.539 |
|
Profit |
(410.212) |
(461.899) |
(526.614) |
|
|
(13.47%) |
(16.48%) |
(18.07%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Million
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
59.925 |
54.270 |
0.000 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
PERFORMANCE
At macro level, the year was challenging for the country due to tough market conditions, falling rupee and the cascading effect on local manufacturers in India in terms of increase in cost of input of materials and services. Key reason for lowered performance of the company is delays in major projects in market. Depreciation of Indian Rupee is compounding the problem and increases the cost of input of materials and services. This triggered increase of finished goods prices across all segments. Despite these factors, they are deploying our resources in the best possible way to increase the volumes and the Management is confident that the company will improve its performance significantly in the coming years.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Borrowing from foreign institutional agencies |
898.875 |
868.320 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Working capital loans from banks |
270.000 |
730.000 |
|
Other loans and advances |
163.164 |
61.843 |
|
|
|
|
|
Total |
1332.039 |
1660.163 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10123388 |
04/08/2008 |
350,000,000.00 |
Citi Bank N.A. |
Citigroup Centre,, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A45588142 |
|
2 |
90384114 |
21/07/2005 |
22,900,000.00 |
Citi Bank N.A. |
Mumbai, Mumbai, Maharashtra, India |
- |
|
3 |
90372082 |
21/07/2005 |
22,900,000.00 |
Citi Bank N.A. |
Mumbai, Mumbai, Maharashtra, India |
- |
|
4 |
90384084 |
09/10/1999 |
700,000.00 |
Union Bank Of India |
Chandra Sekkarpur Branch, Bhubneshwar, Orissa, India |
- |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Office Equipment
· Leasehold Improvements
Intangible Assets
· Goodwill
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
-- |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
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.