MIRA INFORM REPORT
|
Report No. : |
349161 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
STAPLES FUTURE OFFICE PRODUCTS LIMITED [w.e.f.21.03.2014] |
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|
Formerly Known
As : |
STAPLES FUTURE OFFICE PRODUCTS PRIVATE LIMITED [w.e.f.21.05.2007] FUTURE OFFICE PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari
(East), Mumbai – 400060, Maharashtra |
|
Tel. No.: |
91-22-30008000/ 01 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.01.2007 |
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|
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Com. Reg. No.: |
11-166866 |
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Capital
Investment / Paid-up Capital : |
Rs. 61.719
Million |
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|
|
CIN No.: [Company Identification
No.] |
U74999MH2007PLC166866 |
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IEC No.: |
0306079500 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF04813E |
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PAN No.: [Permanent Account No.] |
AABCF0402F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Housekeeping Products, Pantry Products and Office Furniture etc |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 9th January, 2007. It is a
subsidiary of Future Retail Limited. It has satisfactory track record. The company is continuously incurring a losses from its operations.
There is drastic dip in the turnover of the company as compared to previous
year. However, the company possesses decent networth along with ample
liquidity. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view of strong holding, the company can be considered for 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-COOPERATIVE
[CONTACT NO.: 91-22-30008000/ 30008001]
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari
(East), Mumbai – 400060, Maharashtra, India |
|
Tel. No.: |
91-22-30008000/ 01 |
|
Fax No.: |
91-22-30008001 |
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E-Mail : |
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Website : |
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Corporate Office : |
3rd Floor, Orchid City Centre, Opposite Mumbai Central Bus Depot, Mumbai Central (East), Mumbai – 400008, Maharashtra, India |
|
Tel. No.: |
91-22-60003000 |
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Fax No.: |
91-22-66997008 |
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|
|
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Sales Offices : |
Located at: · Delhi · Kolkata · Hyderabad · Bangalore · Chennai · Mumbai |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Shailesh Vallabh Karwa |
|
Designation : |
Whole-time director |
|
Address : |
Kamal Kunj, 87B, Bomanji Petit Road, Near Parsi General Hospital, Mumbai - 400036, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1977 |
|
Qualification : |
MBA and CS |
|
Date of Appointment : |
15.03.2007 |
|
PAN No.: |
AADPK3479Q |
|
DIN No.: |
00062674 |
|
|
|
|
Name : |
Mr. Sharad Ravi Dalmia |
|
Designation : |
Whole-time director |
|
Address : |
40, Prabhat, 8th Floor, 76 Warden Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1977 |
|
Qualification : |
MBA |
|
Date of Appointment : |
15.03.2007 |
|
PAN No.: |
AEKPD1181R |
|
DIN No.: |
00635001 |
|
|
|
|
Name : |
Mr. Anil Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
305, Jeevan Vihar, Manav Mandir Road, Malabhar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1963 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
19.08.2013 |
|
DIN No.: |
00005834 |
|
|
|
|
Name : |
Mr. Vivek Biyani |
|
Designation : |
Director |
|
Address : |
304 Jeevan Vihar, Maanav Mandir Road, Malabhar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1985 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
19.08.2013 |
|
DIN No.: |
01977838 |
|
|
|
|
Name : |
Mr. Anuraag Agarwal |
|
Designation : |
Director |
|
Address : |
29, Ballygunj Park, 8B, Navin Apartments, Kolkata - 700019, West Bengal, India |
|
Date of Birth/Age : |
05.06.1974 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
19.08.2013 |
|
DIN No.: |
06379359 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Shailesh Shreevallabh Karwa |
|
858702 |
|
Sharad Ravi Dalmia |
|
858702 |
|
Future Retail Limited [Formally known as Pantaloon Retail (India) Limited] |
|
3220130 |
|
Tirumal Trading and Investment Consultants Private Limited, India |
|
429351 |
|
Future Retail Limited / Sanjay Rathi |
|
1 |
|
Future Retail Limited / Vimal Dhruve |
|
1 |
|
Future Retail Limited / Deepak Tanna |
|
1 |
|
|
|
|
|
Total |
|
5366888 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Staple Asia Investment Limited, Grand Cayman |
|
805033 |
|
|
|
|
|
Total |
|
805033 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
68.00 |
|
Directors
or relatives of directors |
32.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Housekeeping Products, Pantry Products and Office Furniture etc |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.V. Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby 29 Senapati Bapat Marg,
Dadar (West),Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ASBPK1182R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Future Retail Limited (w.e.f. 7th February 2013) [L52399MH1987PLC044954] |
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|
Ultimate Holding Company : |
Staples Inc. (till 7th February 2013) |
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Subsidiary Company : |
Office Shop Private Limited (w.e.f 1st February 2013) [U30006MH2007PTC173922] |
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Ventures in respect of
which the reporting enterprise is a joint venture (Promoter Companies) : |
· Staples Asia Investment Limited (till 7th February 2013) · Future Retail Limited (till 7th February 2013) |
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|
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|
Enterprises that
directly, or indirectly through one or more intermediaries are under common
control with the reporting enterprise : |
· Future Agrovet Limited (till 11th November 2013) [U15100MH2005PLC152599] · Future E-Commerce Infrastructure Limited · Future Supply Chain Solutions Limited [U63030MH2006PLC160376] · Intellivest Financial Services · Future Media (India) Limited · NuFuture Digital India Limited [U72900MH2007PLC174787] · Future Bazaar India Limited · Future Lifestyle Fashion Limited (till 24th June 2013) [L52100MH2012PLC231654] |
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|
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|
Enterprise over which any
Key Management Personnel and their relatives are able to exercise significant
influence : |
· Value Tree Logistics Private Limited · Tirumal Trading and Investment Advisors Private Limited · Officedge India Private Limited [U67120MH2000PTC126561] · Sharad International · Ravi International · Spring Media Works · Krishna and Grey Consulting |
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|
|
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Other Related Party : |
ValueTree India Private Limited [U63011MH2006PTC162629] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 65.000 Million |
|
1,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 75.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,366,888 |
Equity Shares |
Rs. 10/- each |
Rs. 53.669
Million |
|
805,033 |
Preference Shares |
Rs. 10/- each |
Rs. 8.050
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 61.719 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 |
61.719 |
61.719 |
53.669 |
|
(b) Reserves & Surplus |
735.705 |
799.902 |
(350.817) |
|
(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) |
797.424 |
861.621 |
(297.148) |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
2.109 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
2.109 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
26.499 |
0.000 |
586.451 |
|
(b)
Trade payables |
131.270 |
183.507 |
276.602 |
|
(c)
Other current liabilities |
33.240 |
61.238 |
247.740 |
|
(d)
Short-term provisions |
1.914 |
1.389 |
0.751 |
|
Total
Current Liabilities (4) |
192.923 |
246.134 |
1111.544 |
|
|
|
|
|
|
TOTAL |
990.347 |
1107.755 |
816.505 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
20.973 |
29.669 |
91.928 |
|
(ii)
Intangible Assets |
0.795 |
0.653 |
4.915 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.483 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.213 |
0.213 |
0.113 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
170.182 |
31.247 |
75.136 |
|
(e)
Other Non-current assets |
0.250 |
75.250 |
0.000 |
|
Total
Non-Current Assets |
192.413 |
137.032 |
172.575 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
66.604 |
104.685 |
299.806 |
|
(c)
Trade receivables |
257.119 |
303.347 |
284.333 |
|
(d)
Cash and cash equivalents |
442.400 |
392.004 |
7.168 |
|
(e)
Short-term loans and advances |
31.276 |
56.356 |
52.492 |
|
(f)
Other current assets |
0.535 |
114.331 |
0.131 |
|
Total
Current Assets |
797.934 |
970.723 |
643.930 |
|
|
|
|
|
|
TOTAL |
990.347 |
1107.755 |
816.505 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
831.888 |
1751.266 |
2086.369 |
|
|
|
Other Income |
40.633 |
19.494 |
15.225 |
|
|
|
TOTAL |
872.521 |
1770.760 |
2101.594 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
619.996 |
1306.055 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
36.614 |
192.130 |
|
|
|
|
Employees benefits expense |
116.407 |
125.757 |
|
|
|
|
Other expenses |
177.736 |
262.058 |
|
|
|
|
TOTAL |
950.753 |
1886.000 |
2275.733 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(78.232) |
(115.240) |
(174.139) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.969 |
73.267 |
62.724 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(82.201) |
(188.507) |
(236.863) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.903 |
25.490 |
28.634 |
|
|
|
|
|
|
|
|
|
|
PRIOR
PERIOD ITEMS |
3.727 |
9.508 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEMS |
25.180 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(64.197) |
(204.489) |
(265.497) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
222.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(64.197) |
(204.489) |
(487.523) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(11.96) |
(38.10) |
(90.84) |
|
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 |
0.044 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
98.970 |
(136.472) |
(289.375) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(7.72) |
(11.68) |
(23.37) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(9.40) |
(6.58) |
(8.35) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.48) |
(18.46) |
(32.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
(0.24) |
0.89 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.03 |
0.00 |
(1.97) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.14 |
3.94 |
0.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
53.669 |
61.719 |
61.719 |
|
Reserves & Surplus |
-350.817 |
799.902 |
735.705 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
-297.148 |
861.621 |
797.424 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
586.451 |
0.000 |
26.499 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.044 |
0.000 |
0.000 |
|
Total
borrowings |
586.495 |
0.000 |
26.499 |
|
Debt/Equity
ratio |
-1.974 |
0.000 |
0.033 |
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 |
2086.369 |
1751.266 |
831.888 |
|
|
|
-16.062 |
-52.498 |
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 |
2086.369 |
1751.266 |
831.888 |
|
Profit/ (Loss) |
(487.523) |
(204.489) |
(64.197) |
|
|
-23.37% |
-11.68% |
-7.72% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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: NO CHARGES
EXIST FOR COMPANY
CORPORATE INFORMATION
Staples Future Office
Products Limited (formerly known as Staples Future Office Products Private
Limited) ('SFOPL' or 'the Company') is a public limited Company domiciled in India
and incorporated under the provisions of The Companies Act, 1956. SFOPL is a
subsidiary of Future Retail Limited.
The Staples ‘Delivery’
business is aimed at large Indian businesses, spanning multiple locations,
requiring seamless ordering and fulfillment and savings through consolidated
buying and improved consumption information.
OPERATIONS/WORKING
RESULTS
During
the year, the Company has recorded sales of Rs. 831.888 Million as compared to
that of last year of Rs.1751.266 Million and has generated Other Income of
Rs.40.633 Million in the current financial year as compared to that of
Rs.19.494 Million for corresponding previous year.
During
the year, the Company has incurred net Loss to the tune of Rs.64.197 Million as
compared to the loss incurred of Rs.204.489 Million.
Barring
unforeseen circumstances, further improvement in sale and profitability is
expected in the current year in view of continued efforts being made. Further
your company is taking effective steps for expansion and diversification to
strengthen the profitability and financial soundness of the Company.
FIXED ASSETS:
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
·
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. 65.79 |
|
|
1 |
Rs. 99.95 |
|
Euro |
1 |
Rs. 71.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.