MIRA INFORM REPORT

 

 

Report No. :

350041

Report Date :

16.11.2015

 

IDENTIFICATION DETAILS

 

Name :

TOYO INK INDIA PRIVATE LIMITED

 

 

Registered Office :

82, Functional Industrial Estate, Patparganj Industrial Area, Delhi – 110092

Tel. No.:

91-11-42058093/ 42147181

 

 

Country :

India

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

03.08.2006

 

 

Com. Reg. No.:

55-151575

 

 

Capital Investment / Paid-up Capital :

Rs.2950.026 Million

 

 

CIN No.:

[Company Identification No.]

U22219DL2006PTC151575

 

 

IEC No.:

0506064271

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELM13911C

 

 

PAN No.:

[Permanent Account No.]

AACCT5137A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is primarily engaged in manufacturing and trading of ink.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 6600000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of "Toyo Ink SC Holding Company Limited". Japan, it is established company having satisfactory track record.

 

Rating takes consideration on company's significant growth into its sales turnover marked by comfortable financial profile characterised by strong capital structure, liquidity and above average debt protection metrics.

 

Rating further takes into account as company receives strong financial, managerial and technical knowhow support from its holding company.

 

Rating is constrained on company's huge accumulated losses which have eroded the reserves of the company and it is continuously making losses from last few years.

 

Trade relations are reported to be fair. Business is active. Payments terms are reported to be slow but correct.

 

In a view of aforesaid, the company can be considered for business dealing 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.

 

 

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 31-03-2015.

 

INFORMATION DECLINED BY

 

Name :

Mr. Akhilesh

Designation :

Senior Executive Finance and Accounts

Contact No.:

91-120-2935002

Date :

16.11.2015

 

LOCATIONS

 

Registered Office/ Delhi Depot :

82, Functional Industrial Estate, Patparganj Industrial Area, Delhi – 110092, India 

Tel. No.:

91-11-42058093/ 42147181

Fax No.:

91-11-42147740

E-Mail :

rahul@toyoinkindia.com

info@toyoinkindia.co.in

Website :

http://www.toyoinkindia.com

 

 

Head Office/ Corporate Office/ Delhi Plant :

Plot No.17, Ecotech-III, Udyog Kendra, District Greater Noida – 201306, Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.:

91-120-2935002/ 004/ 005

Fax No.:

91-120-2397100

 

 

Gujarat Plant :

Plot No.2/23, Dahej D-II, Village: Jolwa, District: Bharuch – 392130, Gujarat, India

 

 

Mumbai Depot :

Building No.8, Shah Industrial Plaza, S. No./H. No.57/1, Village Sativali, Taluka Vasai, District Thane – 401208, Maharashtra, India 

 

 

Manufacturing Network :

Located at:

 

  • Kerala
  • Goa
  • Orissa
  • Chattishgarh
  • Jharkhand
  • Madhya Pradesh
  • Bihar
  • Assam
  • Meghalaya
  • Arunachal Pradesh
  • Nagaland
  • Manipur
  • Mizoram
  • Himachal Pradesh
  • Haryana
  • Uttaranchal
  • Uttar Pradesh
  • Rajasthan

 

 

Sales Representatives :

Located at:

 

  • Punjab
  • West Bengal
  • Gujarat
  • Maharashtra
  • Andhra Pradesh
  • Karnataka
  • Tamilnadu

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Kotaro Yoshida

Designation :

Managing director

Address :

Ideos Azamino I-106,, 1-27-1 Azamino, Aoba-Ku, Yokohama, NA, Japan

Date of Appointment :

01.10.2015

DIN No.:

07010995

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U22219DL2006PTC151575

TOYO INK INDIA PRIVATE LIMITED

Managing director

1/10/2015

1/10/2014

-

Active

NO

2

U74900DL2007PTC168260

TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED

Whole-time director

30/09/2015

1/10/2014

-

Active

NO

3

U24233GJ2013PTC075468

HEUBACH TOYO COLOUR PRIVATE LIMITED

Nominee director

16/06/2015

16/06/2015

-

Active

NO

 

 

Name :

Shunichiro Kawasaki

Designation :

Whole-time director

Address :

G88, 3rd Floor, Saket, Delhi, 110017, India

Date of Appointment :

30.06.2015

DIN No.:

06924690

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U22219DL2006PTC151575

TOYO INK INDIA PRIVATE LIMITED

Whole-time director

30/06/2015

1/7/2014

-

Active

NO

 

 

Name :

Prashant Atre

Designation :

Additional director

Address :

19-A, Tilak Bridge Railway Colony, New Delhi - 110001, India

Date of Appointment :

21.08.2015

DIN No.:

01558613

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U93030DL2006PTC149690

TOYO INK ARETS INDIA PRIVATE LIMITED

Whole-time director

1/4/2007

13/06/2006

-

Active

NO

2

U22219DL2006PTC151575

TOYO INK INDIA PRIVATE LIMITED

Additional director

21/08/2015

21/08/2015

-

Active

NO

 

 

Name :

Teruaki Ido

Designation :

Additional director

Address :

Plot No. 17, Ecotech III, Udyog Kendra, Gautam Budh Nagar, Greater Noida - 201308, Uttar Pradesh, India

Date of Appointment :

21.08.2015

DIN No.:

07212215

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24233GJ2013PTC075468

HEUBACH TOYO COLOUR PRIVATE LIMITED

Nominee director

16/06/2015

16/06/2015

-

Active

NO

2

U22219DL2006PTC151575

TOYO INK INDIA PRIVATE LIMITED

Additional director

21/08/2015

21/08/2015

-

Active

NO

 

 

Name :

Sundermurthy Alias K S Murthy

Designation :

Additional director

Address :

L-101, Goldensquare, Sunder Nagar,, Kalina, Santacruz East, Mumbai - 400098, Maharashtra, India

Date of Appointment :

21.08.2015

DIN No.:

07282015

 

Name :

Takeshi Arimura

Designation :

Additional director

Address :

C-721, New Friends Colony, Delhi - 110065, India

Date of Appointment :

21.08.2015

DIN No.:

07286152

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U22219DL2006PTC151575

TOYO INK INDIA PRIVATE LIMITED

Additional director

21/08/2015

21/08/2015

-

Active

NO

2

U74900DL2007PTC168260

TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED

Additional director

1/11/2015

1/11/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Rahul Prasad

Designation :

Secretary

Address :

Flat No.115, United India Apartment, Mayur Vihar, Phase I (Extension), Delhi – 110091, India 

Date of Birth/Age :

13.07.1975

Date of Appointment :

07.02.2012

PAN No.:

ALXPP2706L

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2014

 

Names of Shareholders

 

No. of Shares

Toyo Ink SC Holdings Company Limited, Japan

 

219020000

Toyo Ink Pan Pacific Pte Limited, Singapore

 

10000

Total

 

219030000

 

AS ON 07.05.2015

 

Names of Allottees

 

No. of Shares

Toyo Ink SC Holdings Company Limited, Japan

 

2206000

Total

 

2206000

 

AS ON 06.04.2015

 

Names of Allottees

 

No. of Shares

Toyo Ink SC Holdings Company Limited, Japan

 

18000000

Total

 

18000000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 31.03.2014

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is primarily engaged in manufacturing and trading of ink.

 

 

Products :

Ink

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

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

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

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

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.12.2014

As on

31.12.2013

LONG TERM BORROWING

 

 

Rupee term loans from others

114.780

118.389

Total

114.780

118.389

 

Auditors :

 

Name :

BSR and Associates

Chartered Accountants

Address :

Building No.10, 8th Floor, Tower-B, DLF Cyber City, Phase-II, Gurgaon – 122002, Haryana, India

PAN N Income-tax PAN of auditor or auditor's firm :

AADFB6889R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:
  • Toyo Ink SC Holdings Company Limited, Japan

 

 

Subsidiary Company:
  • Toyo Ink Businessnetwork India Private Limited, India

[U74900DL2007PTC168260]

 

 

Fellow Subsidiary:
  • Toyo-Morton Limited
  • Toyo Ink Company Limited
  • Toyo Ink Europe (Paris) S.A.S.
  • Toyo Chem Speciality Chemical SDN. BHD.
  • Toyo Ink (Thailand) Company Limited
  • Toyo Ink (Middle East) Fze.
  • Toyo B-Net Company Limited
  • Toyochem Company Limited
  • Toyocolor Company Limited
  • Toyo Ink Australia Pty. Limited
  • Toyo Ink Engineering Company Limited
  • Toyo Ink Compounds Vietnam Company Limited
  • Toyo Ink Brasil LTDA.
  • Toyo Ink Europe (Paris) S.A.S. Belg B
  • TIPPS Pte. Limited.
  • PT. Toyo Ink Indonesia
  • Toyo Ink Asia Limited.
  • Hanil Toyo Company Limited
  • Shanghai Toyo Ink Mfg. Company Limited
  • Toyo Ink SC Trading Company Limited
  • Toyo Ink Vietnam Company Limited
  • Zuhai Toyochem Company Limited

 

 

CAPITAL STRUCTURE

 

AFTER 30.06.2015

 

Authorised Capital : Rs.3350.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs.3177.086 Million

 

AS ON 31.12.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300000000

Equity Shares

Rs.10/- each

Rs.3000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

295002600

Equity Shares

Rs.10/- each

Rs.2950.026 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.12.2014

31.12.2013

31.12.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2950.026

2190.300

1539.300

(b) Reserves & Surplus

(643.097)

(469.168)

(408.558)

(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)

2306.929

1721.132

1130.742

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

114.780

118.389

45.796

(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

1.692

1.386

0.964

Total Non-current Liabilities (3)

116.472

119.775

46.760

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

220.000

97.500

0.000

(b) Trade payables

531.224

343.919

183.459

(c) Other current liabilities

158.346

31.789

26.116

(d) Short-term provisions

1.205

0.601

1.139

Total Current Liabilities (4)

910.775

473.809

210.714

 

 

 

 

TOTAL

3334.176

2314.716

1388.216

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1739.601

783.614

690.927

(ii) Intangible Assets

4.375

0.000

0.000

(iii) Capital work-in-progress

66.458

362.641

1.500

(iv) Intangible assets under development

0.000

5.900

3.937

(b) Non-current Investments

8.847

8.847

8.847

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

77.767

89.220

135.570

(e) Other Non-current assets

10.155

10.155

0.000

Total Non-Current Assets

1907.203

1260.377

840.781

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

409.218

345.359

194.430

(c) Trade receivables

552.466

411.317

220.031

(d) Cash and cash equivalents

390.795

212.958

65.236

(e) Short-term loans and advances

71.531

81.459

67.449

(f) Other current assets

2.963

3.246

0.289

Total Current Assets

1426.973

1054.339

547.435

 

 

 

 

TOTAL

3334.176

2314.716

1388.216

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2014

31.12.2013

31.12.2012

 

 

 

 

 

 

GROSS SALES

1788.946

1311.443

747.334

 

 

 

 

 

 

EXPENSES

NA

NA

NA

 

 

 

 

 

 

NET PROFIT/ (LOSS)

(173.928)

(60.611)

(52.534)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Sale of products

270.343

176.936

84.733

 

TOTAL EARNINGS

270.343

176.936

84.733

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

287.815

332.062

89.083

 

 

Capital Goods

247.836

8.360

8.699

 

 

Stores & Spares

1.288

1.430

0.039

 

TOTAL IMPORTS

536.939

341.852

97.821

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2014

31.12.2013

31.12.2012

Current Maturities of Long term debt

0.000

0.184

0.509

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(63.190)

(219.362)

(109.118)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2014

31.12.2013

31.12.2012

Debt Equity Ratio

(Total Debt /Networth)

 

0.15

0.13

0.04

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.57

2.23

2.60

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2012

31.12.2013

31.12.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1539.300

2190.300

2950.026

Reserves & Surplus

(408.558)

(469.168)

(643.097)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1130.742

1721.132

2306.929

 

 

 

 

long-term borrowings

45.796

118.389

114.780

Short term borrowings

0.000

97.500

220.000

Current maturities of long-term debts

0.509

0.184

0.000

Total borrowings

46.305

216.073

334.780

Debt/Equity ratio

0.041

0.126

0.145

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2012

31.12.2013

31.12.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross sales

747.334

1311.443

1788.946

 

 

75.483

36.411

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2012

31.12.2013

31.12.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross sales

747.334

1311.443

1788.946

Profit

(52.534)

(60.611)

(173.928)

 

(7.03%)

(4.62%)

(9.72%)

 

 

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

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

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

 

 

NOTE: Registered office of the company has been shifted from A - 288, Oklha Industrial Area, Phase – I, New Delhi -110020, India to the present address w.e.f. 16.12.2013

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

FINANCIAL HIGHLIGHTS

 

During the year, the company has increased its sales to a considerable extent as compared to previous year figure. However, the Net Loss has increased from to INR 60.611 Million to 173.928 Million due to establishment of a factory in the state of Gujarat.

 

The response in the market of Offset and Liquid printing ink products is very encouraging. In view of this, during the year the company commenced production of Offset Inks from its new factory at Dahej, Gujarat. The company also established and started Matching Centre at Vadodara, Gujarat.

 

The end of the next financial year the company will be in a much better financial position in terms of sales and loss.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.12.2014

As on

31.12.2013

SHORT TERM BORROWING

 

 

Working capital loans from banks

220.000

97.500

Total

220.000

97.500

 

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

 

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.66.14

UK Pound

1

Rs.100.55

Euro

1

Rs.71.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

--

--CREDIT LINES

1~10

6

--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

 

42

 

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.