MIRA INFORM REPORT

 

 

Report No. :

346490

Report Date :

21.10.2015

 

IDENTIFICATION DETAILS

 

Name :

PROCTER AND GAMBLE HOME PRODUCTS PRIVATE LIMITED

 

 

Formerly Known As :

PROCTER AND GAMBLE HOME PRODUCTS LIMITED (w.e.f. 10.04.1997)

 

PERSONAL CARE PRODUCTS LIMITED (w.e.f.17.08.1993)

 

PERSONAL CARE PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

P and G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai -  400099, Maharashtra

Tel. No.:

91-22-28266000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.01.1989

 

 

Com. Reg. No.:

11-050398

 

 

Capital Investment / Paid-up Capital :

Rs. 525.000 Million

 

 

CIN No.:

[Company Identification No.]

U24240MH1989PLC050398

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMP10704B

 

 

PAN No.:

[Permanent Account No.]

AAACP4072C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in the manufacturing and selling of branded packaged fast moving consumer goods in the fabric and home care, baby care, skin care and hair care businesses.

 

 

No. of Employees :

Information denied by 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

 

 

Comments :

Subject is a subsidiary of “Procter and Gamble Overseas India BV, Netherlands”. It is an established company incorporated in the year 1989 having satisfactory track.

 

P and G is one of the largest and fastest growing consumer goods companies in India.

 

The company is continuously incurring losses from its operation. However, networth base of the company is strong. Liquidity position of the company is decent.

 

The rating also takes into consideration rich experience of its promoter’s, long established market reputation, huge customer base and strong operating efficiency of the company.

 

Further, the rating also derives strength from its holding company and its experienced management.

 

It is also to be noted that the subject has been ranked 32 with fortune 500 companies which considered being a good company.

 

Trade relations reported as trustworthy. Business is active. Payment terms are reported as regular and as per commitment.

 

In view of the aforesaid, the company can be considered good for business dealing at usual trade terms and condition.

 

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 DENIED

 

Management Non Co-operative (91-22-28266000)

 

 

LOCATIONS

 

Registered Office :

P and G Plaza, Cardinal Gracias Road, Chakala, Andheri (East), Mumbai -  400099, Maharashtra, India

Tel. No.:

91-22-28266000 / 40543618

Fax No.:

91-22-66939696 / 66939698

E-Mail :

ramachandran.v.3@pg.com

nair.cs@pg.com

tawde.r@pg.com 

vyas.a@pg.com

Website :

http://www.pg.com

http://www.pg-india.com

 

 

Factory 1 :

Plot No.182, Sector A, Industrial Area, Mandideep, District Raisen – 462 010, Madhya Pradesh, India

 

 

Factory 2 :

Located At: Baddi, Himachal Pradesh, India

 

 

DIRECTORS

 

AS ON 17.09.2014

 

Name :

Mr. Shantanu Maharaj Khosla

Designation :

Managing Director

Address :

Gool Rukh, Ground Floor, Plot No.83, Khan Abdul Gaffar Road, Mumbai – 400 018, Maharashtra, India

Date of Birth/Age :

25.01.1960

Qualification :

B. Tech (Mech. Engg), MBA

Date of Appointment :

01.08.2012

DIN No.:

00059877

 

 

Name :

Mr. Tapan Janardan Buch

Designation :

Director

Address :

Odessey 1, Flat No.1001, 10th Floor, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

10.10.1972

Qualification :

CA, CWA, CFA

Date of Appointment :

09.09.2010

DIN No.:

02910029

 

 

Name :

Mr. Amit Vyas

Designation :

Director

Address :

503, 3rd Valshali Nagar, 3/B, Mahalaxmi, Mumbai -400011, Maharashtra, India

Date of Birth/Age :

15.11.1967

Date of Appointment :

26.09.2013

DIN No.:

06685891

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

17.09.2014

 

Names of Shareholders

 

 

No. of Shares

Procter and Gamble Overseas India B.V., Netherland

 

52497348

Procter and Gamble Far East Inc., USA

 

1

Procter and Gamble NDP Inc., USA

 

1

The Procter and Gamble Company, USA

 

1

The Procter and Gamble Distribution Company Limited, USA

 

1

The Procter and Gamble Manufacturing Company, USA

 

1

Procter and Gamble Canada Holding B.V., Netherland

 

1

 

 

 

Total

 

52497354

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 17.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.0

Total

100.00

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the manufacturing and selling of branded packaged fast moving consumer goods in the fabric and home care, baby care, skin care and hair care businesses.

 

 

Products :

Product Description

Item Code No. (ITC Code)

Detergents

3402

Shampoo and Conditioner

3305

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

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 :

Company Name :

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 :

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 :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Indiabulls Finance Centre Tower, 3/27-32 Floor, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India 

PAN No.:

AACFD4815A

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Holding Company :

·         Procter and Gamble Overseas India BV

 

 

Ultimate Holding Company :

·         The Procter and Gamble Company, USA

 

 

Fellow Subsidiaries :

·         Fameccanica Machinery (Shanghai) Company Limited

·         Fameccanica Machinery Company

·         Gillette Diversified Operations Private Limited

·         Gillette India Limited

·         Gillette Pakistan Limited

·         Modern Products Company

·         Procter and Gamble Indochina Company Limited

·         Procter and Gamble Northeast Asia Pte Limited - Japan Br

·         Procter and Gamble (China) Sales Co., Limited.

·         Procter and Gamble Tuketim Mallari Sanayi A.S.

·         Pt Procter and Gamble Home Products Indonesia

·         Procter and Gamble Europe SA Singapore Branch

·         Procter and Gamble Hygiene and Health Care Limited

·         The Procter and Gamble US Business Services Company

·         Procter and Gamble Innovation Godo Kaisha

·         Procter and Gamble International Operations Pte. Limited

·         Procter and Gamble International Operations SA

·         Procter and Gamble International Operations SA Singapore Br.

·         Procter and Gamble International Operations SA, Ceemea  Div

·         Procter and Gamble International Operations SA-ROHQ

·         The Procter and Gamble Manufacturing Company

·         Procter and Gamble Kabushiki Kaisha

·         Procter and Gamble Malaysia Sdn Bhd

·         Procter and Gamble Manufacturing (Thailand) Limited

·         Procter and Gamble Manufacturing Gmbh

·         Procter and Gamble Nigeria Limited

·         The Procter and Gamble Paper Products Company

·         Procter and Gamble Services Company NV

·         Procter and Gamble Technical Centers Limited

·         Procter and Gamble Technical Centers Limited

·         Procter and Gamble Trading (Thailand) Limited

·         Procter and Gamble (Guangzhou) Limited

·         Procter and Gamble Bangladesh Private Limited

·         The Gillette Company

·         The Procter and Gamble Company

·         The Procter and Gamble Distributing LLC

·         Procter and Gamble Philippines, Inc.

·         Procter and Gamble Japan K.K.

·         Procter and Gamble Productions, Inc.

·         Wella India Hair Cosmetics Private Limited

·         Gillette Products Private Limited

 

 

The Group Companies of The Procter and Gamble Company USA include, among others :

·         Procter and Gamble India Holdings BV

·         Procter and Gamble Luxembourg Global SARL

·         Procter and Gamble Canada Holding BV

·         Procter and Gamble Iron Horse Holding BV

·         Procter and Gamble International SARL

·         Procter and Gamble Overseas Canada, BV

·         Procter and Gamble Eastern Europe LLC

·         Procter and Gamble India Holdings Inc.

·         Procter and Gamble Overseas India BV

·         Procter and Gamble Nordic LLC

·         Procter and Gamble International Operations, SA

·         Procter and Gamble Asia Holding BV.

·         Procter and Gamble Global Holdings Limited

·         Gillette Group (Europe) Holdings, BV Rosemount BV.

 

 

CAPITAL STRUCTURE

 

AS ON 17.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75000000

Equity Shares

Rs.10/- each

Rs. 750.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

52497354

Equity Shares

Rs.10/- each

Rs. 524.973 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

525.000

425.800

281.600

(b) Reserves & Surplus

21839.400

15309.500

9320.800

(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)

22364.400

15735.300

9602.400

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

55.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.200

(c) Other long term liabilities

21.000

21.000

16.500

(d) long-term provisions

34.800

22.700

0.000

Total Non-current Liabilities (3)

110.800

43.700

16.700

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6363.800

5398.500

5821.400

(b) Trade payables

8220.700

8154.000

6652.300

(c) Other current liabilities

2557.600

3156.100

2345.500

(d) Short-term provisions

583.100

587.400

65.500

Total Current Liabilities (4)

17725.200

17296.000

14884.700

 

 

 

 

TOTAL

40200.400

33075.000

24503.800

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

15822.100

14016.200

8808.500

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

8249.200

4971.200

5270.800

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2933.700

3340.200

1938.600

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

27005.000

22327.600

16017.900

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4601.400

4568.200

3794.900

(c) Trade receivables

3167.300

2963.700

2593.400

(d) Cash and cash equivalents

3407.500

1639.000

920.200

(e) Short-term loans and advances

1916.600

1441.400

1134.800

(f) Other current assets

102.600

135.100

42.600

Total Current Assets

13195.400

10747.400

8485.900

 

 

 

 

TOTAL

40200.400

33075.000

24503.800

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

53811.100

48313.300

39303.900

 

 

Other Income

163.000

159.300

210.300

 

 

TOTAL                                              (A)

53974.100

48472.600

39514.200

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

25819.000

24533.400

18045.100

 

 

Purchase of Stock-in-trade

1875.400

2061.400

3479.200

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

126.400

(594.800)

(220.800)

 

 

Employee Benefits Expenses

2680.300

2542.100

2195.100

 

 

Other Expenses

22452.000

22830.600

18247.900

 

 

Profit before extra-ordinary item

0.000

13.000

0.000

 

 

TOTAL                                              (B)

52953.100

51385.700

41746.500

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

1021.000

(2913.100)

(2232.300)

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

635.800

641.700

576.600

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

385.200

(3554.800)

(2808.900)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

1385.100

1260.400

724.600

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                   (G)     

(999.900)

(4815.200)

(3533.500)

 

 

 

 

 

Less

TAX                                                                  (H)

6.000

157.600

0.000

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

(1005.900)

(4972.800)

(3533.500)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(8697.700)

(3724.900)

(191.400)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(9703.600)

(8697.700)

(3724.900)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(21.48)

(149.37)

(161.68)

 

 

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 flow from (used in) operations

11.219

(24.198)

(21.962)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

(1.87)

(10.29)

(8.99)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

1.90

(6.03)

(5.68)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

(3.13)

(17.13)

(18.37)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.04)

(0.31)

(0.37)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.29

0.34

0.61

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.74

0.62

0.57

 

 

 

 

 

 

 

 

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

281.600

425.800

525.000

Reserves & Surplus

9320.800

15309.500

21839.400

Net worth

9602.400

15735.300

22364.400

 

 

 

 

long-term borrowings

0.000

0.000

55.000

Short term borrowings

5821.400

5398.500

6363.800

Total borrowings

5821.400

5398.500

6418.800

Debt/Equity ratio

0.606

0.343

0.287

 

 

 

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

39303.900

48313.300

53811.100

 

 

22.922

11.379

 

 

 

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

39303.900

48313.300

53811.100

Profit

(3533.500)

(4972.800)

(1005.900)

 

(8.99%)

(10.29%)

(1.87%)

 

 

 

 

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

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Loans and advances from related parties

55.000

0.000

 

 

 

Short Term Borrowings

 

 

Loans and  advances from others

6363.800

5398.500

 

 

 

Total

6418.800

5398.500

 

 

NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

PRESS RELEASE:

 

AL RAJWANI TO TAKE OVER AS P&G INDIA CEO

 

MUMBAI, MAY 27:  

 

Procter & Gamble Hygiene and Health Care has announced a change of guard. Shantanu Khosla, Managing Director and CEO, Procter & Gamble (P&G) India has decided to move on from P&G as of June 30. Al Rajwani is to assume responsibilities for P&G India as Managing Director and CEO from July 1.

 

The company has not specified the reason for his exit or the appointment of his successor.

 

Khosla, a P&G veteran for 32 years, was at the helm of P&G India for 13 years spearheading its growth. A company statement said he was responsible for growing the India business over ten times. Similarly, Gillette India has informed the stock exchange that Shantanu Khosla will cease to be the Managing Director of the company with effect from June 30.

 

Khosla heads operations for three P&G companies -- Procter & Gamble Hygiene and Health Care Ltd, Gillette India Ltd, and Procter & Gamble Home Products.

 

The new incumbent, Al Rajwani, has 34 years of experience at P&G, and has worked across the US, Canada, China, Korea, and more recently the Arabian Peninsula and Pakistan (AP&P). Under his leadership, the AP&P business has grown in double digits over the last decade, the statement said, which has paved the way for P&G to be one of the leading fast-moving consumer goods companies in the Middle East.

 

Many accolades

 

The company has significant social responsibility programmes globally and in India.

 

Recently, P&G had teamed up with Majid al Futtaim Carrefour in the UAE to launch a Pampers-Unicef campaign in the UAE. The initiative is to continue till December, and aims to raise one million vaccines for the global campaign to eliminate maternal and neonatal tetanus (MNT).

 

For each product purchased, P&G and Majid al Futtaim Carrefour are to each donate a vaccine to the Unicef global campaign against MNT.

 

Now in its ninth year, the Unicef-Pampers partnership aims to eliminate MNT in developing countries by 2015. In a statement, Rajwani had noted that the company has been in partnership with Unicef for almost a decade. The campaign was first launched in the UK.

 

The company also won four product innovation awards at the recent Product of the Year Gulf 2015 awards.

 

P&G India has many similar campaigns. Its Program Shiksha is an integral part of the company's global philanthropy programme. Currently in its 11th year, Shiksha has built and supported over 330 schools across India in partnership with several non-government organizations, that aims to impact the lives of 6,00,000 underprivileged children.

 

Another of its most recent campaigns in India was 'Thank You Mom', which presented P&G as the proud sponsor of moms.

 

Correction

 

The Shiksha programme has built and supported over 330 schools, and not 140 schools, as an earlier version said.

 

 

P&G PIPS NESTLE, ITC TO BECOME INDIA'S THIRD LARGEST CONSUMER-PRODUCTS MAKER

 

MUMBAI: Procter & Gamble, one of the top two FMCG firms in the world, has topped Nestle and ITC to become India's third-largest consumer products maker after nearly doubling its sales in the country in the last three years. P&G's three entities in the country, selling a wide variety of products ranging from detergents and shampoo to razors to sanitary napkins, posted combined revenues of Rs 9,274 crore for the year ended March 2014, slightly ahead of Nestle India's Rs 9,197 crore and the FMCG business of ITC that had sales of Rs 8,099 crore.

 

 

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 records 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.64.89

UK Pound

1

Rs.100.39

Euro

1

Rs.73.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

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

 

 

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.