MIRA INFORM REPORT
|
Report No. : |
324055 |
|
Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOURISHCO BEVERAGES LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Building No. 9A, DLF Cyber City, DLF Phase –
III, Gurgaon – 122002, Haryana |
|
Tel. No.: |
91-124-4946700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.11.2010 |
|
|
|
|
Com. Reg. No.: |
05-041616 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.250 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15500HR2010PLC041616 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKN02913B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN4844M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Business of Developing, Trading, Selling,
Marketing and Distributing Beverages. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 670000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, company has reported weak operational
performance and it has incurred losses from its operational activities. Due to continuous losses, net worth position of the company got
hampered which leverage the balance sheet profile of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. In view of weak balance sheet profile, 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
|
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Abhijeet Lehiri |
|
Designation : |
C.F.O. |
|
Contact No.: |
91-7838291889 |
|
Date : |
25.05.2015 |
LOCATIONS
|
Registered Office : |
3rd Floor, Building No. 9A, DLF Cyber City, DLF Phase –
III, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4946700 |
|
Mobile no. : |
91-7838291889 (Mr. Abhijeet Lehiri) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 17.09.2014
|
Name : |
Mr. Poddar Narendranath Pradeep |
|
Designation : |
Director |
|
Address : |
Flat No. 02, Mont Blanc, 22nd Floor, August Kranti Marg, Opposite Kemps Corner, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1954 |
|
Qualification : |
B. Chem. Engg, MBA ( I IM Ahmedabad) |
|
Date of Appointment : |
14.03.2011 |
|
DIN No.: |
00025199 |
|
|
|
|
Name : |
Mr. Misra Kumar Ajoy |
|
Designation : |
Director |
|
Address : |
Flat No. 202, Sterling Heritage, 39, N. S. Patkar Marg, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1957 |
|
Qualification : |
Civil Engineer and MBA from FMS |
|
Date of Appointment : |
14.03.2011 |
|
DIN No.: |
00050557 |
|
|
|
|
Name : |
Mr. Chadha Sanjeev |
|
Designation : |
Director |
|
Address : |
Apartment 3505, The Address Downtown Residence, Downtown Dubai Po. Box. 123234, Dubai, United Arab Emirates |
|
Date of Birth/Age : |
24.01.1960 |
|
Qualification : |
MBA from IIM |
|
Date of Appointment : |
14.03.2011 |
|
DIN No.: |
01256457 |
|
|
|
|
Name : |
Mr. Shivakumar Pullaya Dega |
|
Designation : |
Director |
|
Address : |
Lcg404b, The Laburnum Society, Sushnat Lok - 1, Gurgaon, 122001, Haryana, India |
|
Date of Appointment : |
10.03.2014 |
|
DIN No.: |
00364444 |
|
|
|
|
Name : |
Mr. Darius Dinshaw Pandole |
|
Designation : |
Director |
|
Address : |
5 B Sunshine Apartments,15 B Maharshi Karve Road,, Opposite : Oval Maidan, Mumbai-400020, Mumbai, 400020, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00727320 |
|
|
|
|
Name : |
Kimsuka Narasimhan |
|
Designation : |
Alternate director |
|
Address : |
309-B, Beverly Park - I, Gurgaon, 122002, Haryana, INDIA |
|
Date of Appointment : |
17.12.2013 |
|
DIN No.: |
02102783 |
|
|
|
|
Name : |
Mr. Vicki Marie Gillespie |
|
Designation : |
Director |
|
Address : |
Villa Gho-65, The Palm Jumeirah (Garden Home), Dubai, 11330, , United Arab Emirates |
|
Date of Appointment : |
11.05.2012 |
|
DIN No.: |
05291679 |
|
|
|
|
Name : |
Mr. Harsh Kumar |
|
Designation : |
Managing director |
|
Address : |
Flat No-1002, Tower-A3, Uniworld City, Sector-30, Gurgaon, 122001, Haryana, India |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
06826248 |
KEY EXECUTIVES
|
Name : |
Mr. Sabiha Niyazi |
|
Designation : |
Secretary |
|
Address : |
A12, Sanjay Gram, Sector-14, Gurgaon, 122001, Haryana, India |
|
Date of Appointment : |
13.03.2015 |
|
PAN No.: |
AGIPN5624P |
|
|
|
|
Name : |
Mr. Abhijeet Lehiri |
|
Designation : |
C.F.O. |
|
Address : |
R/O C-4C- 113,, Carlton Estate, Phase V,, Gurgaon, 122002,
Haryana, INDIA |
|
Date of Appointment : |
30.04.2014 |
|
PAN No.: |
ABRPL9869Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Pepsico India Holdings Private Limited, India |
|
62499997 |
|
Tata Global Beverages Limited, India |
|
62499997 |
|
Kimsuka Narsimhan (as Nominee of PepsiCo India Holdings Private Limited) |
|
1 |
|
V R Shankar (as Nominee of PepsiCo India Holdings Private Limited) |
|
1 |
|
Krishnamoorthy Venkatramanan (a Nominee of Tata Global Beverages Limited) |
|
1 |
|
Venkatramana Rao Madan (a Nominee of Tata Global Beverages Limited) |
|
1 |
|
Avijit Sengupta (a Nominee of Tata Global Beverages Limited) |
|
1 |
|
Harsh Kumar Rai (as Nominee of PepsiCo India Holdings Private Limited) |
|
1 |
|
Total |
|
125000000 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Business of Developing, Trading, Selling,
Marketing and Distributing Beverages. |
||||
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|
||||
|
Products : |
|
||||
|
|
|
||||
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Brand Names : |
Not Divulged |
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||||
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Agencies Held : |
Not Divulged |
||||
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|
||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
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|
||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City Phase II, Gurgaon, Haryana, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint Venture
Partners : |
|
|
|
|
|
Subsidiary of Joint
Venture Partner : |
|
CAPITAL STRUCTURE
After 17.09.2014
Authorised Capital : Rs. 1950.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1550.000
Million
As on 17.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs. 1250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs. 1250.000 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 |
1250.000 |
700.000 |
350.500 |
|
(b) Reserves & Surplus |
(1014.760) |
(621.004) |
(231.900) |
|
(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) |
235.240 |
78.996 |
118.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
4.828 |
3.372 |
1.335 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.121 |
|
(d) long-term provisions |
0.585 |
0.260 |
0.000 |
|
Total
Non-current Liabilities (3) |
5.413 |
3.632 |
1.456 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
183.538 |
181.845 |
142.350 |
|
(c) Other current liabilities |
31.983 |
33.442 |
23.544 |
|
(d) Short-term provisions |
15.371 |
1.863 |
0.001 |
|
Total
Current Liabilities (4) |
230.892 |
217.150 |
165.895 |
|
|
|
|
|
|
TOTAL |
471.545 |
299.778 |
285.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.455 |
2.256 |
0.468 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
50.493 |
1.454 |
0.000 |
|
(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 |
31.607 |
64.589 |
10.302 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
86.555 |
68.299 |
10.770 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
41.553 |
31.583 |
25.582 |
|
(c) Trade receivables |
27.080 |
16.675 |
16.850 |
|
(d) Cash and cash equivalents |
284.430 |
124.090 |
186.181 |
|
(e) Short-term loans and
advances |
30.743 |
58.851 |
43.855 |
|
(f) Other current assets |
1.184 |
0.280 |
2.713 |
|
Total
Current Assets |
384.990 |
231.479 |
275.181 |
|
|
|
|
|
|
TOTAL |
471.545 |
299.778 |
285.951 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
754.866 |
497.165 |
196.366 |
|
|
Other Income |
23.336 |
7.154 |
7.239 |
|
|
TOTAL
(A) |
778.202 |
504.319 |
203.605 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
30.327 |
37.644 |
26.458 |
|
|
Purchases of Stock-in-Trade |
635.834 |
450.152 |
202.699 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.254) |
(2.990) |
(22.346) |
|
|
Employees benefits expense |
40.144 |
13.040 |
9.638 |
|
|
Other expenses |
585.727 |
484.999 |
302.284 |
|
|
Exceptional item before tax |
(113.300) |
(89.594) |
(83.300) |
|
|
TOTAL
(B) |
1171.478 |
893.251 |
435.433 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
(393.276) |
(388.932) |
(231.828) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(393.276) |
(388.932) |
(231.828) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.480 |
0.172 |
0.072 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(393.756) |
(389.104) |
(231.900) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(393.756) |
(389.104) |
(231.900) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(4.53) |
(8.58) |
(13.36) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(52.16) |
(78.26) |
(118.10) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(52.10) |
(78.23) |
(118.06) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(93.52) |
(130.43) |
(81.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.67) |
(4.93) |
(1.96) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67 |
1.07 |
1.66 |
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 |
350.500 |
700.000 |
1250.000 |
|
Reserves & Surplus |
(231.900) |
(621.004) |
(1014.760) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
118.600 |
78.996 |
235.240 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
196.366 |
497.165 |
754.866 |
|
|
|
153.183 |
51.834 |
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 |
196.366 |
497.165 |
754.866 |
|
Profit |
(231.900) |
(389.104) |
(393.756) |
|
|
(118.10%) |
(78.26%) |
(52.16%) |
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
BACKGROUND
Subject was incorporated on 25 November 2010 in India as a Public Limited Company. The Company is a 50:50 Joint Venture between PepsiCo India Holdings Private Limited and Tata Global Beverages Limited. The Company is in the business of developing, trading, selling, marketing and distributing beverages
REVIEW OF OPERATIONS
Highlights –
Performance
The Year 2013-14 was the 3rd year of operation for the Company. The Company consolidated its portfolio during the year and all the 3 brands in the portfolio, Tata Gluco Plus, Tata Water Plus (Both in PET as well as Pouch form) and Himalayan showed robust growth levels over the
previous year.
While Himalayan continued to strengthen its all India presence and was also fuelled by growth in the traditionally non-core markets, Tata Gluco Plus and Tata Water Plus expanded their footprint into the states of Andhra Pradesh and Tamil Nadu. The distribution expansion in Andhra Pradesh has started building up beyond Hyderabad into rest of Andhra Pradesh. In its markets of operation, NourishCo is now a significant player in Hydration.TWP outsells Aquafina in Hyderabad Metro and sells 40% of Aquafina in Chennai. TGP outsells 7Up 200ml and Mirinda 200ml in Chennai. TWP Distribution in the states of TN and AP has overtaken Bisleri.In Chennai, TWP distribution has overtaken Kinley, and In Hyderabad, TWP distribution has overtaken Aquafina, and it is the No.2 on distribution behind Kinley. The Company has also launched TWP and TGP in the state of Gujarat.
The Company’s total operating income at Rs. 754.866 Million was 152% higher than the previous year reflecting strong growth across the entire product portfolio. The Company also continued to leverage the strong innovation and distribution strengths of its parent organizations during the year.
The Company will continue to pursue a strong strategy of building on its strengths product differentiation, new innovative products and pack formats, building significant scale through expansion into new markets to emerge as one of the largest, successful hydration companies in India.
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS
- Plant and equipment
- Office equipment
- Computer equipments
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.63.62 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.