MIRA INFORM REPORT
|
Report No. : |
351566 |
|
Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE RETAIL LIMITED (w.e.f.13.072013) |
|
|
|
|
Formerly Known
As : |
RELIANCE FRESH LIMITED (w.e.f.18.01.2008) RANGER FARMS LIMITED (w.e.f.10.02.2007) RANGER FARMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Court House. Lokmanya Tilak Marg, Dhobi Talao,
Mumbai – 400002, Maharashtra |
|
Tel. No.: |
91-22-44770000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.06.1999 |
|
|
|
|
Com. Reg. No.: |
11-120563 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49895.416 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01100MH1999PLC120563 |
|
|
|
|
IEC No.: |
0306017628 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR19954E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR1718E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Retail service provider of set up to initiate, acquire set up,
construct, establish, maintain run operate and manage business centres, hyper
markets, departmental stores, super market, shopping malls, discount store,
specialty stores, shopping outlets etc. |
|
|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 |
|
|
|
|
Comments : |
Subject is a part of the retail venture of the Reliance Industries
Limited. RIL is the ultimate holding company of the subject and Reliance
Retail Ventures Limited is the holding company. The company has successfully wiped off its accumulated losses of
earlier years by earning profit with the fair margins in the year 2014.
Further, the company has reported decent growth in its revenue base along
with comfortable debt level. The rating also reflects the consistent financial and strategic
support extended by Reliance Industries Limited (RIL), which is also expected
to continue in the coming years for its growth in operations. Trade relations are reported as fair. Business is active. Payment terms
are reported to be slow and delayed. In view of strong group support along with well-known brand of
“Reliance”, the company can be considered normal 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
|
Rating Agency Name |
CARE |
|
Rating |
Fixed Deposit Programme = AAA |
|
Rating Explanation |
Have highest degree of safety and carry lowest credit risk |
|
Date |
May 8, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Ms. Akanksha Nilay Mota |
|
Designation : |
Secretary |
|
Contact No.: |
91-22-44770000 |
|
Date : |
12.06.2015 |
LOCATIONS
|
Registered Office : |
3rd Floor, Court House. Lokmanya Tilak Marg, Dhobi Talao, Mumbai
– 400002, Maharashtra, India |
|
Tel. No.: |
91-22-44770000 |
|
Fax No.: |
91-22-44770000 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
9th Floor, Maker Chambers IV, 222, Nariman Point, Mumbai –
400021, |
|
Tel. No.: |
91-22-44772522 |
|
Fax No.: |
91-22-22785211 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Pradipta Kumar Mohapatra |
|
Designation : |
Director |
|
Address : |
11 A. B. M. Avenue, Chennai, 600028, Tamil Nadu, India |
|
Date of Appointment : |
25/03/2015 |
|
PAN No.: |
00066239 |
|
|
|
|
Name : |
Pankaj Mohan Pawar |
|
Designation : |
Whole-time director |
|
Address : |
302, Archana Saurabh, Plot No. 20, Sector 7, Koparkhairne, Navi Mumbai, 400709, Maharashtra, India |
|
Date of Appointment : |
01/10/2010 |
|
PAN No.: |
00085077 |
|
|
|
|
Name : |
Sudarshan Krishnan |
|
Designation : |
Director |
|
Address : |
301/Plot No-3,Garden View Chs Ltd, Ghatla Road, Cts 1558 Near Green Field, Chembur(East), Mumbai, 400071, Maharashtra, India |
|
Date of Appointment : |
25/03/2015 |
|
PAN No.: |
01029826 |
|
|
|
|
Name : |
Pramod Madhukar Bhawalkar |
|
Designation : |
Director |
|
Address : |
2/36, Om-Trimurti Chs, Bhaktidham Marg, Off Sion-Trombay Road, Chunabhatti, Sion, Mumbai, 400022, Maharashtra, India |
|
Date of Birth/Age : |
24/03/2012 |
|
PAN No.: |
01114946 |
|
|
|
|
Name : |
Sanjay Narayan Jog |
|
Designation : |
Director |
|
Address : |
B-702, Rushi Towers, Lokhnadwala Complex, Swami Samarth Nagar, Andheri (West), Mumbai, 400053, Maharashtra, India |
|
Date of Appointment : |
30/12/2013 |
|
PAN No.: |
01727602 |
|
|
|
|
Name : |
Geeta Kalyandas Fulwadaya |
|
Designation : |
Additional director |
|
Address : |
E 51 Jharokha Ii, Kalpataru Vatika, Akurli Road Opp Esis Hosp, Kandivli E, Mumbai – 400101, Maharashtra, India |
|
Date of Appointment : |
25/03/2015 |
|
PAN No.: |
03341926 |
KEY EXECUTIVES
|
Name : |
Raja Kolumum Ramachandran |
|
Designation : |
CFO |
|
Address : |
1703/1704, Building 1, Raheja Classique, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
PAN No.: |
ADLPR6435Q |
|
Date of Appointment : |
25/03/2015 |
|
|
|
|
Name : |
Radhika Thorat |
|
Designation : |
Secretary |
|
Address : |
379/8, Sugam Co Housing Society, Sector 3, Charkop, Kandivali (West), Mumbai, 400067, Maharashtra, India |
|
PAN No.: |
AHEPT4831D |
|
Date of Appointment : |
10/10/2014 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.95 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retail service provider of set up to initiate, acquire set up,
construct, establish, maintain run operate and manage business centres, hyper
markets, departmental stores, super market, shopping malls, discount store,
specialty stores, shopping outlets etc. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
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||||||||||||||||||
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Customers : |
Not Divulged
|
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|
No. of Employees : |
3000 (Approximately) |
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Bankers : |
|
||||||||||||||||||
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|
||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Name : |
S.R. Batliboi and Company Chartered Accountant |
|
Address : |
14th Floor, Ruby, 29, Senapati Bapat Marg, Dadar West,
Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
ACHFS9180N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Ultimate Holding Company: |
Reliance Industries Limited |
|
|
|
|
Holding Company : |
(formerly Reliance Commercial Associates Limited)
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|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As On 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,000,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4,989,541,650 |
Equity Shares |
Rs. 10/-
each |
Rs.
49895.416 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 |
49895.400 |
10.500 |
10.500 |
|
(b) Reserves & Surplus |
2637.900 |
(82.800) |
(13331.900) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
49884.900 |
0.000 |
|
(3) Minority Interest |
0.000 |
0.000 |
48.400 |
|
Total
Shareholders’ Funds (1) + (2) |
52533.300 |
49812.600 |
(13273.000) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
17413.300 |
9267.400 |
58732.000 |
|
(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 |
93.100 |
225.300 |
129.600 |
|
Total Non-current
Liabilities (3) |
17506.400 |
9492.700 |
58861.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1764.100 |
0.000 |
0.000 |
|
(b) Trade
payables |
11244.300 |
9737.400 |
4119.100 |
|
(c) Other
current liabilities |
3508.900 |
3126.800 |
2192.100 |
|
(d) Short-term
provisions |
13.900 |
9.800 |
20.600 |
|
Total Current
Liabilities (4) |
16531.200 |
12874.000 |
6331.800 |
|
|
|
|
|
|
TOTAL |
86570.900 |
72179.300 |
51920.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
19633.000 |
16423.400 |
24515.900 |
|
(ii)
Intangible Assets |
4.900 |
5.800 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
3877.100 |
4158.700 |
4069.400 |
|
(b) Non-current Investments |
8477.900 |
9953.300 |
2451.100 |
|
(c) Deferred tax assets (net) |
6796.400 |
8034.100 |
6732.400 |
|
(d) Long-term Loan and Advances |
5635.500 |
8645.300 |
2937.200 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
44424.800 |
47220.600 |
40706.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
200.200 |
1.500 |
|
(b)
Inventories |
32638.200 |
19592.300 |
7032.600 |
|
(c) Trade
receivables |
1568.600 |
1643.400 |
1609.600 |
|
(d) Cash
and cash equivalents |
3856.400 |
894.900 |
420.700 |
|
(e)
Short-term loans and advances |
4082.300 |
2627.500 |
2149.700 |
|
(f) Other
current assets |
0.600 |
0.400 |
0.300 |
|
Total
Current Assets |
42146.100 |
24958.700 |
11214.400 |
|
|
|
|
|
|
TOTAL |
86570.900 |
72179.300 |
51920.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
126944.700 |
91260.300 |
50530.500 |
|
|
|
Other Income |
1874.500 |
191.200 |
126.000 |
|
|
|
TOTAL (A) |
128819.200 |
91451.500 |
50656.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
115030.200 |
74208.200 |
45081.200 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(12950.000) |
(1810.400) |
(5094.600) |
|
|
|
Employees benefits expenses |
3951.700 |
3732.500 |
2113.000 |
|
|
|
Other expenses |
16264.500 |
13872.300 |
9763.200 |
|
|
|
TOTAL (B) |
122296.400 |
90002.600 |
53092.700 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
6522.800 |
1448.900 |
(2436.200) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
697.900 |
734.800 |
3.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5824.900 |
714.100 |
(2439.300) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1866.400 |
2804.800 |
2206.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
3958.500 |
(2090.700) |
(4646.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1237.800 |
(738.600) |
(1676.100) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2720.700 |
(1352.100) |
(2970.000) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.55 |
(0.27) |
(0.59) |
|
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 |
|
Net cash flows from (used in) operations |
(7118.000) |
1291.500 |
(3243.600) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.14
|
(1.48) |
(7.13) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.14
|
1.59 |
(5.64) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.24 |
(3.89) |
(11.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
(0.04) |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38 |
0.19 |
(4.54) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51 |
1.93 |
2.04 |
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 |
10.500 |
10.500 |
49895.400 |
|
Reserves & Surplus |
(13331.900) |
(82.800) |
2637.900 |
|
Share Application money pending
allotment |
0.000 |
49884.900 |
0.000 |
|
Net
worth |
(13321.400) |
49812.600 |
52533.300 |
|
|
|
|
|
|
long-term borrowings |
58732.000 |
9267.400 |
17413.300 |
|
Short term borrowings |
0.000 |
0.000 |
1764.100 |
|
Current Maturities of Long Term
Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
58732.000 |
9267.400 |
19177.400 |
|
Debt/Equity
ratio |
(4.409) |
0.186 |
0.365 |
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 |
50530.500 |
91260.300 |
126944.700 |
|
|
|
80.604 |
39.102 |
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 |
50530.500 |
91260.300 |
126944.700 |
|
Profit |
(2970.000) |
(1352.100) |
2720.700 |
|
|
(5.88%) |
(1.48%) |
2.14% |
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
----- |
|
33 |
Market information |
----- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: The registered
office has been shifted from Reliance Corporate Park, Building No. 4, Ground
Floor, 'C' Wing, Thane-Belapur Road, Ghansoli, Navi Mumbai – 400701,
Maharashtra, India to the present address w.e.f.21.11.2011
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10488381 |
11/04/2014 |
6,000,000,000.00 |
State Bank of India |
State Bank of India, Ground Floor,Free Press Journal Marg,Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
C02663300 |
|
2 |
10344114 |
01/03/2012 |
42,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B35773571 |
|
3 |
10154320 |
30/03/2009 |
22,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A60806841 |
|
4 |
10065388 |
28/02/2007 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A12463303 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
17365.000 |
9200.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee Term loan from banks |
1764.100 |
0.000 |
|
Total |
19129.100 |
9311.400 |
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. 66.38 |
|
UK Pound |
1 |
Rs. 100.45 |
|
Euro |
1 |
Rs. 70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
58 |
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.