MIRA INFORM REPORT
|
Report No. : |
348859 |
|
Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
FEDEX EXPRESS TRANSPORTATION AND SUPPLY CHAIN SERVICES (INDIA) PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
Boomerang, Unit 801, Wing A and B 1, 8th Floor, Chandivali
Farm Road, Near Vhandival Andheri (East), Mumbai - 400072, Maharashtra |
|
Mob. No.: |
91-22-61897777 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
29.12.2010 |
|
|
|
|
Com. Reg. No.: |
11-211583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.402 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60231MH2010FTC211583 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF06238B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF6516A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the Business of Integrated, Ground and Air Transportation, Warehousing and Custom Clearance |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of ‘Federal Express Europe Inc’, United States. It is engaged in providing integrated logistics services. Its services include management, 3PL, distribution management, inventory management, critical inventory logistics, transportation, and network design and consultancy services. The firm offers door to door delivery solutions, such as cash on delivery, temperature controlled shipments, securitized delivery of financial documents, and reverse logistics for express delivery needs. The company also offers warehousing and solutions engineering, and e-commerce services. Fedex ranked 65th amongst fortune 500 company with brand name value of USD 3,672 million and enterprise value of USD 52,653 Million. With respect to the Indian operations, the company possesses moderate operational performance and incurred losses from its operational activities. However, rating takes into consideration strong operating efficiencies along with healthy financial base along with strong net worth profile, zero debt balance sheet and healthy debt coverage indictors. Rating also takes into consideration its widespread geographical marketing and distribution networks and decent brand recognition of its services. With respect to the global operations, FedEx, meanwhile, would help strengthen TNT with investments and global scope. The TNT Express deal is the most obvious opportunity. It would combine TNT's strong European road platform and hub in Belgium with FedEx's strength in other regions globally, including North America and Asia. Rating strength is partially offset by volatility in forex prices led to affect company’s margins marked by working capital intense nature of business operations and exposure to intense competition in the logistic business from organized and unorganized players in the industry. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
(TEL. NO.: 91-22-61897777)
LOCATIONS
|
Registered Office : |
Boomerang, Unit 801, Wing A and B 1, 8th Floor, Chandivali
farm Road, Near Vhandival Andheri (East), Mumbai - 400072, Maharashtra, India |
|
Tel. No.: |
91-22-61897777 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sukumar Kameswaran |
|
Designation : |
Director |
|
Address : |
E-708, Oberoi Splendor, Jvlr, Jogeshwari (East), Mumbai - 400060, Maharashtra, India |
|
Date of Birth/Age : |
09.11.1968 |
|
Date of Appointment : |
28.06.2012 |
|
PAN No. : |
ABDPS5003K |
|
DIN No.: |
02546479 |
|
|
|
|
Name : |
Namrata Sanjay Sawant |
|
Designation : |
Director |
|
Address : |
B-29 Madhuwan Society, 106-A, Off. J.P. Road, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1968 |
|
Date of Appointment : |
28.06.2012 |
|
PAN No. : |
AAVPS6125R |
|
DIN No.: |
03317961 |
|
|
|
|
Name : |
Mr. Ravi Ranga Varma Tirumalaraju |
|
Designation : |
Director |
|
Address : |
B2, 2:1 2nd Floor, B2 Shiv Parvati CHS,, Sector 21, Nerul, Navi Mumbai - 400706, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1970 |
|
Date of Appointment : |
30.12.2013 |
|
PAN No. : |
ACJPT2148R |
|
DIN No.: |
06550180 |
|
|
|
|
Name : |
Mr. David Joseph Canavan |
|
Designation : |
Additional director |
|
Address : |
Renaissance Hotel, 2, 3B, Near Chinmayanand Ashram, Powai, Mumbai - 400087, Maharashtra, India |
|
Date of Appointment : |
27.01.2015 |
|
DIN No.: |
07033714 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Rajan Pillai |
|
Designation : |
Secretary |
|
Address : |
Sai Samarth Chs, Building No. 7, Flat No. 307, Near Century Bazar, Worli, Mumbai - 400025, Maharashtra, India |
|
Date of Appointment : |
20.02.2014 |
|
PAN No.: |
AYEPP6866H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Federal Express Europe Inc, USA |
294446 |
|
Federal Express International Inc, USA |
1 |
|
Federal Express Corporation, USA |
50249 |
|
|
|
|
Total |
344696 |
AS ON 02.12.2014
|
Names of Allottees |
No. of Shares |
|
Federal Express Europe Inc, USA |
9187 |
|
Federal Express Corporation, USA |
1568 |
|
|
|
|
Total |
10755 |
AS ON 27.01.2015
|
Names of Allottees |
No. of Shares |
|
Federal Express Europe Inc, USA |
12388 |
|
Federal Express Corporation, USA |
2112 |
|
|
|
|
Total |
14500 |
AS ON 30.09.2014
|
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 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20348859_MIRA%2006-Nov-2015_files/image014.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Business of Integrated, Ground and Air Transportation, Warehousing and Custom Clearance |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 2 9 Senapati Bapat M A R G , Dadar-West, Mumbai - 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company : |
· Federal Express Europe Inc · Parent Federal Express Corporation |
|
|
|
|
Ultimate Holding company: |
FedEx Corporation, USA |
|
|
|
|
Other related party : |
Federal Express Corpn |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital : Rs. 105.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 3.811
Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 105.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
344,696 |
Equity Shares |
Rs. 10/- each |
Rs. 3.447
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 105.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,40,192 |
Equity Shares |
Rs. 10/- each |
Rs. 3.402 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 |
3.402 |
1.322 |
1.000 |
|
(b) Reserves & Surplus |
2352.059 |
3718.200 |
4512.862 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
1.978 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2355.461 |
3721.500 |
4513.862 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
119.656 |
116.411 |
46.715 |
|
(d)
long-term provisions |
89.252 |
37.488 |
0.000 |
|
Total
Non-current Liabilities (3) |
208.908 |
153.899 |
46.715 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
186.207 |
163.905 |
83.341 |
|
(c)
Other current liabilities |
2074.062 |
828.206 |
502.135 |
|
(d)
Short-term provisions |
121.519 |
136.007 |
103.419 |
|
Total
Current Liabilities (4) |
2381.788 |
1128.118 |
688.895 |
|
|
|
|
|
|
TOTAL |
4946.157 |
5003.517 |
5249.472 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
704.892 |
394.086 |
103.661 |
|
(ii)
Intangible Assets |
1502.515 |
2302.405 |
3993.661 |
|
(iii)
Capital work-in-progress |
85.680 |
161.191 |
11.252 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.175 |
1.175 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
548.047 |
461.975 |
198.635 |
|
(e)
Other Non-current assets |
0.511 |
3.526 |
0.000 |
|
Total
Non-Current Assets |
2842.820 |
3324.358 |
4307.209 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
796.004 |
684.322 |
482.320 |
|
(d)
Cash and cash equivalents |
408.193 |
653.345 |
270.991 |
|
(e)
Short-term loans and advances |
185.295 |
142.167 |
88.957 |
|
(f)
Other current assets |
713.845 |
199.325 |
99.995 |
|
Total
Current Assets |
2103.337 |
1679.159 |
942.263 |
|
|
|
|
|
|
TOTAL |
4946.157 |
5003.517 |
5249.472 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4940.547 |
|
|
|
|
|
Other Income |
78.312 |
84.671 |
|
|
|
|
TOTAL |
5018.859 |
4540.756 |
3086.646 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
7784.590 |
7876.961 |
3934.784 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(2765.731) |
(3336.205) |
(848.138) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
14.199 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(2765.731) |
(3350.404) |
(848.138) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
209.552 |
94.727 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(8129.91) |
(25343.45) |
(8481.38) |
|
%20PRIVATE%20LIMITED%20-%20348859_MIRA%2006-Nov-2015_files/image003.gif){kind=small}
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
(1181.324) |
(1046.703) |
(625.563) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(55.98) |
(75.19) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(56.92) |
(68.91) |
(16.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.17) |
(0.90) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
1.49 |
1.37 |
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 |
1.000 |
1.322 |
3.402 |
|
Reserves & Surplus |
4512.862 |
3718.200 |
2352.059 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
1.978 |
0.000 |
|
Net
worth |
4513.862 |
3721.500 |
2355.461 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
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 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20348859_MIRA%2006-Nov-2015_files/image016.gif)
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) |
|
Total Revenue |
3086.646 |
4540.756 |
5018.859 |
|
|
|
47.110 |
10.529 |
%20PRIVATE%20LIMITED%20-%20348859_MIRA%2006-Nov-2015_files/image018.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
3086.646 |
4540.756 |
5018.859 |
|
Profit |
(848.138) |
(3350.404) |
(2765.731) |
|
|
(27.48%) |
(73.79%) |
(55.11%) |
%20PRIVATE%20LIMITED%20-%20348859_MIRA%2006-Nov-2015_files/image020.gif)
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90223553 |
03/04/2006
* |
57,500,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL |
- |
|
2 |
90220445 |
31/12/2002 |
1,049,691.00 |
ICICI
BANK LTD |
BANDRA
KURLA COMPLEX, MUMBAI -,
MAHARASHTRA400051 |
- |
|
3 |
90224492 |
18/03/1994 |
294,192.00 |
MEGA
FIN INDIA LTD |
MITTAL TOWER
C WING NARIMAN POINT, BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
* Date of charge modification
NATURE OF OPERATIONS
The company was incorporated on December 29, 2010 under the Companies Act, 1956, set up by Federal Express Europe Inc, a USA based company.
The Company is engaged in the business of courier, ground and air transportation, warehousing and custom clearance.
OPERATIONS
& OUTLOOK:
During the fiscal 2013-14 the revenue of the Company increased from Rs. 4540.700 Million to 5018.800 Million. Your Company made net loss of Rs. 2765.700 Million in the fiscal 2013-14 compared to the net loss of Rs.3350.400 Million for the year 2012-2013
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Chemtex House,
Hiranandani Gardens, Main Street, Powai, Mumbai – 400076, Maharashtra, India to
the present address w.e.f. 29.10.2008.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Service tax on co-loading services (September 10, 2004 to March 31, 2008) |
6.519 |
6.519 |
|
Service tax on co-loading services (September 2004 to March 2009) |
31.383 |
31.383 |
|
Service tax on Business Support Services (FY 2008-09) |
5.867 |
5.867 |
|
Demand received from Income tax authorities AY 09-10 and AY 10-11 |
22.699 |
0.000 |
|
|
|
|
|
Total |
66.468 |
43.769 |
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
· Leasehold Improvements
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.65.68 |
|
|
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
64 |
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.