MIRA INFORM REPORT

 

 

Report No. :

321008

Report Date :

07.05.2015

 

IDENTIFICATION DETAILS

 

Name :

FIELDFRESH FOODS PRIVATE LIMITED (w.e.f. 20.05.2009)

 

 

Formerly Known As :

BHARTI DEL MONTE INDIA PRIVATE LIMITED (w.e.f. 23.05.2008)

FIELD FRESH FOODS PRIVATE LIMITED

 

 

Registered Office :

C 2, First Floor, Plot No. 16, Udyog Vihar, Phase IV, Gurgaon-122015, Haryana

Tel. No.:

91-124-4109400

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

06.09.2004

 

 

Com. Reg. No.:

05-041215

 

 

Capital Investment / Paid-up Capital :

Rs. 2170.117 Million

 

 

CIN No.:

[Company Identification No.]

U15133HR2004PTC041215

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACF8488N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Baby Corn, Snow Peas, Fine Beans, Fresh Preserved Vegetables, Fruit, Beans etc.

 

 

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 240000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The company is continuously incurring heavy losses from its operational activities.

 

However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct.

 

The company 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 – 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 DENIED BY

 

Name :

Mr. Nitin

Designation :

Not Divulged

Contact No.:

91-9872997081

Date :

04.05.2015

 

 

LOCATIONS

 

Registered Office :

C 2, First Floor, Plot No. 16, Udyog Vihar, Phase IV, Gurgaon-122015, Haryana, India 

Tel. No.:

91-124-4109400

Mobile No.:

91-9872997081 (Mr. Nitin)

Fax No.:

91-124-4109390

E-Mail :

sridhar.natarajan@fieldfreshfoods.in

Website :

http://www.fieldfreshfoods.in

 

 

DIRECTORS

 

As on 02.09.2014

 

Name :

Mr. Rakesh Bharti Mittal

Designation :

Chairman cum Managing Director

Address :

E-26, Vasanat Marg, Vasant Vihar, New Delhi-110057, India

Date of Birth/Age :

18.09.1955

Date of Appointment :

06.09.2004

DIN No.:

00042494

 

 

Name :

Mr. Sanjay Nandrajog

Designation :

Director

Address :

Ground Floor, TG-1, Orchid Garden, Sncity, Sector -54, Gurgaon-122003, Haryana, India

Date of Birth/Age :

12.09.1962

Date of Appointment :

19.11.2009

DIN No.:

02814947

 

 

Name :

Mr. Rolando C Gapud

Designation :

Director

Address :

Flat C, 4/F, Estoril Court, 55, Garden Road, Hong Kong

Date of Birth/Age :

24.01.1942

Date of Appointment :

05.10.2007

DIN No.:

01879924

 

 

Name :

Luis F Alejandro

Designation :

Director

Address :

414, Madrigal Ave Bgy, New Alabang, Ayala Alabang Village, Muntinpula, Manila-1780, Philippines

Date of Birth/Age :

09.11.1953

Date of Appointment :

25.11.2008

DIN No.:

02156064

 

 

Name :

Mr. Joselito Dee Campos

Designation :

Director

Address :

9 Banaba Circle, Cir South Forbes Park, Metro Manila, Makati City-1220, Philippines

Date of Birth/Age :

23.01.1951

Date of Appointment :

05.10.2007

DIN No.:

01885366

 

 

Name :

Mr. Manoj Kumar Kohli

Designation :

Director

Address :

AR 609A, The Aralias, DLF Golf Links,, DLF Citi Phase V,, Gurgaon, 122009, Haryana, INDIA

Date of Birth/Age :

03.01.1958

Date of Appointment :

24.02.2014

DIN No.:

00162071

 

 

KEY EXECUTIVES

 

Name :

Mr. Sridhar Natarajan

Designation :

Secretary

Address :

202, Guru Gram, Haryana GP Co-Operative Housing Society, Plot No. 28, Sector 56, Gurgaon-122003, Haryana, India

Date of Birth/Age :

09.02.1969

Date of Appointment :

19.02.2008

PAN No.:

ABDPS0736M

 

 

Name :

Mr. Yogesh Bellani

Designation :

Manager

Address :

G-36, Masjid Moth, Greater Kailash-Ii, New Delhi, 110048, Delhi, India

Date of Birth/Age :

07.07.1971

Date of Appointment :

10.12.2013

PAN No.:

AAIPB4503H

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 02.09.2014

 

Names of Shareholders

 

No. of Shares

Bharti Ventures Limited, India (Formerly Bharti Enterprises India Limited)

 

3480176

DMPL India Limited, Mauritius (Formerly Elrothschild Limited)

 

116005873

Bharti (SBM) Holdings Private Limited, India

 

45010279

Bharti (RBM) Holdings Private Limited India

 

28131423

Bharti (RM) Holdings Private Limited, India

 

28131423

Bharti (Satya) Trustees Private Limited, India

 

11252572

Total

 

232011746

 

 

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

50.00

Bodies corporate

50.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Baby Corn, Snow Peas, Fine Beans, Fresh Preserved Vegetables, Fruit, Beans etc.

 

 

Products :

Not Available

 

 

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 :

Not Divulged

 

 

Bankers :

 

Banker Name :

ICICI Bank Limited

Branch Address :

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, 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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term loans from others

1129.219

1206.562

 

 

 

Short Term Borrowing

 

 

Working capital loans from banks

473.900

394.435

 

 

 

Total

1603.119

1600.997

 

 

Financial Institution :

Infrastructure Development Finance Company Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamil Nadu, INDIA

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase II, Gurgaon-122002, Haryana, India

Tel. No.:

91-124-6792000

Fax No.:

91-124-6792012

PAN No:

AABFD2095B

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :
  • Wal-Mart India Private Limited

CIN No.: U51909DL2007PTC167118

  • Nile Tech Limited

CIN No.: U72900DL2006PLC153842

  • GTL Limited, MALAYSIA
  • DMPL INDIA PTE LIMITED, SINGAPORE
  • Bharti Telemedia Limited

CIN No.: U92200DL2006PLC156075

  • Bharti Retail Limited

CIN No.: U51909DL2007PLC158953

  • Bharti Realty Holdings Limited

CIN No.: U45208DL2003PLC123388

  • Bharti Foundation, India
  • Bharti AXA General Insurance Company Limited

CIN No.: U66030KA2007PLC043362

  • Bharti Airtel Services Limited
  • Bharti Airtel Limited

CIN No.: L74899DL1995PLC070609

  • Beetel Teletech Limited

CIN No.: U32204HR1999PLC042204

 

 

Joint venture :
  • DMPL India Limited
  • Del Monte Pacific Limited
  • Bharti Ventures Limited
  • Bharti (SBM) Holdings Private Limited
  • Bharti (Satya) Trustees Private Limited
  • Bharti (RM) Holdings Private Limited
  • Bharti (RBM) Holdings Private Limited

 

 

CAPITAL STRUCTURE

 

As on 02.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

350,000,000

Equity Shares

Rs.10/- each

Rs.3500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

232,011,746

Equity Shares

Rs.10/- each

Rs.2320.117 Million

 

 

 

 

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

350,000,000

Equity Shares

Rs.10/- each

Rs.3500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

217,011,746

Equity Shares

Rs.10/- each

Rs.2170.117 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

2170.117

1635.117

1175.117

(b) Reserves & Surplus

(2085.725)

(1543.553)

(935.649)

(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)

84.392

91.564

239.468

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1129.219

1206.562

1137.500

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

9.099

8.922

7.435

(d) long-term provisions

26.771

25.474

16.991

Total Non-current Liabilities (3)

1165.089

1240.958

1161.926

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

542.891

521.955

364.389

(b) Trade payables

722.730

500.984

361.508

(c) Other current liabilities

115.383

67.296

37.318

(d) Short-term provisions

1.525

1.291

0.913

Total Current Liabilities (4)

1382.529

1091.526

764.128

 

 

 

 

TOTAL

2632.010

2424.048

2165.522

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1203.897

1392.096

1459.803

(ii) Intangible Assets

6.578

11.500

16.468

(iii) Capital work-in-progress

2.997

6.374

4.433

(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

36.110

35.677

33.392

(e) Other Non-current assets

0.817

0.736

0.684

Total Non-Current Assets

1250.399

1446.383

1514.780

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

632.265

497.780

306.464

(c) Trade receivables

462.722

353.597

236.794

(d) Cash and cash equivalents

6.302

10.813

2.319

(e) Short-term loans and advances

45.806

38.730

39.714

(f) Other current assets

234.516

76.745

65.451

Total Current Assets

1381.611

977.665

650.742

 

 

 

 

TOTAL

2632.010

2424.048

2165.522

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

3343.483

2316.552

1757.661

 

 

Other Income

12.719

11.954

11.461

 

 

TOTAL                                     (A)

3356.202

2328.506

1769.122

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchase and other direct cost

2040.653

1438.851

1199.749

 

 

Overhead

1549.275

1208.976

1257.293

 

 

TOTAL                                     (B)

3589.928

2647.827

2457.042

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

(233.726)

(319.321)

(687.920)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

207.252

191.632

141.938

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

(440.978)

(510.953)

(829.858)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

101.194

96.950

105.791

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)         (G)

(542.172)

(607.903)

(935.649)

 

 

 

 

 

Less

TAX                                                                  (H)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

(542.172)

(607.903)

(935.649)

 

 

 

 

 

 

Earnings Per Share (Rs.)

(2.84)

(4.19)

(2.83)

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(16.22)

(26.24)

(53.23)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

(6.99)

(13.78)

(39.14)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(20.62)

(25.14)

(43.30)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(6.42)

(6.64)

(3.91)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

19.81

18.88

6.27

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.00

0.90

0.85

 

 

 

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

1175.117

1635.117

2170.117

Reserves & Surplus

(935.649)

(1543.553)

(2085.725)

Net worth

239.468

91.564

84.392

 

 

 

 

long-term borrowings

1137.500

1206.562

1129.219

Short term borrowings

364.389

521.955

542.891

Total borrowings

1501.889

1728.517

1672.110

Debt/Equity ratio

6.272

18.878

19.814

 

 

 

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

1757.661

2316.552

3343.483

 

 

31.797

44.330

 

 

 

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

1757.661

2316.552

3343.483

Profit

(935.649)

(607.903)

(542.172)

 

(53.23%)

(26.24%)

(16.22%)

 

 

 

 

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

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

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

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

 

 

(Rs. In Million)

UNSECURED LOAN

As on

31.03.2014

As on

31.03.2013

Short Term Borrowing

 

 

Working capital loans from banks

0.000

60.000

Other loans and advances

68.991

67.520

Total

68.991

127.520

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10514385

22/07/2014

100,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 
400018, INDIA

C16064461

2

10358275

24/05/2012

1,250,000,000.00

INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED

KRM Tower, 8th Floor,, No. 1, Harrington Road, Chetpet, Chennai, Tamil Nadu - 600031, INDIA

B40661084

3

10332700

23/01/2012

250,000,000.00

INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED

KRM Tower, 8th Floor,, No. 1, Harrington Road, Chetpet, Chennai, Tamil Nadu - 600031, INDIA

B30882492

4

10332697

23/01/2012

1,000,000,000.00

INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED

KRM Tower, 8th Floor,, No. 1, Harrington Road, Chetpet, Chennai, Tamil Nadu - 600031, INDIA

B30880728

5

10284252

27/08/2012 *

200,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA

B57295859

6

10205818

20/06/2012 *

300,000,000.00

HDFC BANK LIMITED

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

B43181502

7

10030090

23/08/2012 *

95,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA

B56449457

8

10001648

20/06/2012 *

300,000,000.00

HDFC BANK LIMITED

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

B43715184

 

* Date of charge modification

 

 

FIXED ASSETS

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer

 

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.63.64

UK Pound

1

Rs.96.81

Euro

1

Rs.71.51

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

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

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--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.