MIRA INFORM REPORT
|
Report No. : |
342266 |
|
Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TATA STARBUCKS PRIVATE LIMITED (w.e.f. 16.03.2015) |
|
|
|
|
Formerly Known
As : |
TATA STARBUKS LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, New Excelsior Building, Amrit Keshav Nayak Marg,
Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-66113939 |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
30.09.2011 |
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Com. Reg. No.: |
11-222589 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.1800.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2011PTC222589 |
|
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|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECT0606Q |
|
|
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|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is to operate cafes in India under the brand name of
‘Starbucks’. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Tata Starbucks is a 50:50 Joint venture company, owned by Tata Global
Beverages and Starbucks Corporation that owns and operates Starbucks outlets
in India. Starbucks is the largest coffeehouse company in the world with 22551
stroes in 65 countries nad it ranked 3rd among global top 10 fast
foods companies. Starbucks also ranked 187 in fortune 500 company with brand name value
of USD 11115 million and enterprise value of USD 58885 million. With respect to the India operations, the company has reported decent
revenue growth and it has achieved revenue of Rs.969.400 million against the
previous year revenue of 187.872 but it failed to achieve profit from its
operations and reported losses which accumulated over past 2 years. However, the company has strong capital base and India operations are
financially well supported by strong joint venture entities. Promoters are
well experienced and respectable businessmen. Trade relations are reported as fair. Payment are reported to be usually
correct. In view of aforesaid, the company regareded as promising business
partner for medium to long term business dealings. |
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-Cooperative (91-22-66113939)
LOCATIONS
|
Registered Office : |
4th Floor, New Excelsior Building, Amrit Keshav Nayak Marg,
Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66113939 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 27.09.2014
|
Name : |
Ajoy Kumar Misra |
|
Designation : |
Director |
|
Address : |
Flat No. 202, Sterling Heritage, 39, N.S. Patkar Marg, Mumbai –
400007, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1957 |
|
Date of Appointment : |
27.09.2014 |
|
DIN No.: |
00050557 |
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|
|
|
Name : |
Harish Ramananda Bhat |
|
Designation : |
Director |
|
Address : |
No. A-1053, Krest Park Apartments, 39 Old Kanakapura Road, Basavanagudi,
Bangalore – 560004, Karnataka, India |
|
Date of Birth/Age : |
08.11.1962 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
00478198 |
|
|
|
|
Name : |
Venkataramanan Krishnamoorthy |
|
Designation : |
Director |
|
Address : |
2 D, Polaris Aquila Heights No. 27, HMT Factory, Main Road, Near HMT
School Peenya Plantation b, Bangalore – 560013, Karnataka, India |
|
Date of Birth/Age : |
30.07.1961 |
|
Date of Appointment : |
27.09.2014 |
|
DIN No.: |
01728072 |
|
|
|
|
Name : |
Mr. Vivek Chettur Varma |
|
Designation : |
Director |
|
Address : |
1940, 8TH Avenue, West Seattle, Washington – 98119 |
|
Date of Birth/Age : |
03.07.1966 |
|
Date of Appointment : |
23.07.2012 |
|
DIN No.: |
05142770 |
|
|
|
|
Name : |
Mr. John Winchester Culver |
|
Designation : |
Director |
|
Address : |
17087, SE 65th Place, Bellevue, Washington - 98006 |
|
Date of Birth/Age : |
07.08.1960 |
|
Date of Appointment : |
23.07.2012 |
|
DIN No.: |
05142778 |
|
|
|
|
Name : |
Jeff John Hansberry |
|
Designation : |
Director |
|
Address : |
7 Floor, Tower 4, The Lily, No.129 Repulse Bay Road, HongKong |
|
Date of Birth/Age : |
15.05.1964 |
|
Date of Appointment : |
27.09.2014 |
|
DIN No.: |
06815219 |
KEY EXECUTIVES
|
Name : |
Mr. Avani Vishal Davda |
|
Designation : |
Manager |
|
Address : |
B-82, Heera Panna Haji Ali, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
09.02.1979 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ASPPS9952A |
|
|
|
|
Name : |
Payal Rajendra Agarwal |
|
Designation : |
Secretary |
|
Address : |
M-415, Poonam Complex, 84 Shantipark, Faiz 3, Poonam Complex, Mira
Road (Purv) Bhainder, Thane – 401107, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1982 |
|
Date of Appointment : |
21.07.2014 |
|
PAN No.: |
AGYPA7582K |
MAJOR SHAREHOLDERS
As on 27.09.2014
|
Names of Shareholders |
No. of Shares |
|
Tata Global Beverages Limited, India |
149999994 |
|
Venkataramanan K |
01 |
|
Madan Roa Venkatramana |
01 |
|
Sengupta Avijit |
01 |
|
Promod M S |
01 |
|
Mahapatra S Prabal |
01 |
|
Lodhger Ibrahim |
01 |
|
Emerald City C.V., Netherlands |
150000000 |
|
Total |
300000000 |
As on 18.05.2015
|
Names of Allottees |
No. of Shares |
|
Emerald City C.V., Netherlands |
16000000 |
|
Tata Global Beverages Limited, India |
16000000 |
|
Total |
32000000 |
As on 27.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is to operate cafes in India under the brand name of
‘Starbucks’. |
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|
|
Products : |
Not Available |
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Brand Names : |
‘Starbucks’ |
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Agencies Held : |
Not Available |
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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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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
52 , Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai - 400028, Maharashtra, India |
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PAN No.: |
AAEPF3641G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their relatives : |
|
CAPITAL STRUCTURE
AFTER 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
380000000 |
Equity Shares |
Rs.10/-each |
Rs.3800.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
332000000 |
Equity Shares |
Rs.10/-each |
Rs.3320.000
Million |
As on 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
Rs.10/-each |
Rs.3500.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/-each |
Rs.3000.000
Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220000000 |
Equity Shares |
Rs.10/-each |
Rs.2200.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
180000000 |
Equity Shares |
Rs.10/-each |
Rs.1800.000
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 |
1800.000 |
700.000 |
700.000 |
|
(b) Reserves & Surplus |
(664.636) |
(145.904) |
(4.072) |
|
(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) |
1135.364 |
554.096 |
695.928 |
|
|
|
|
|
|
(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 |
5.983 |
1.528 |
0.000 |
|
Total Non-current
Liabilities (3) |
5.983 |
1.528 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
154.350 |
0.000 |
0.000 |
|
(b) Trade payables |
263.660 |
153.561 |
1.877 |
|
(c) Other current
liabilities |
232.452 |
151.767 |
8.375 |
|
(d) Short-term provisions |
1.308 |
0.340 |
2.243 |
|
Total Current Liabilities
(4) |
651.770 |
305.668 |
12.495 |
|
|
|
|
|
|
TOTAL |
1793.117 |
861.292 |
708.423 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
912.857 |
316.796 |
0.000 |
|
(ii) Intangible Assets |
66.623 |
36.003 |
0.000 |
|
(iii) Capital
work-in-progress |
235.375 |
125.030 |
0.000 |
|
(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 |
1.719 |
|
(d) Long-term Loan and Advances |
201.998 |
84.223 |
1.777 |
|
(e) Other Non-current
assets |
3.120 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1419.973 |
562.052 |
3.496 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
332.208 |
127.011 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
17.593 |
145.281 |
697.635 |
|
(e) Short-term loans and
advances |
21.428 |
25.779 |
0.264 |
|
(f) Other current assets |
1.915 |
1.169 |
7.028 |
|
Total Current Assets |
373.144 |
299.240 |
704.927 |
|
|
|
|
|
|
TOTAL |
1793.117 |
861.292 |
708.423 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
954.210 |
146.153 |
0.000 |
|
|
Other Income |
15.230 |
41.719 |
7.196 |
|
|
TOTAL |
969.440 |
187.872 |
7.196 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
534.900 |
68.920 |
0.000 |
|
|
Employees benefits
expense |
286.739 |
91.313 |
2.467 |
|
|
Other expenses |
561.211 |
152.500 |
8.220 |
|
|
TOTAL |
1382.850 |
312.733 |
10.687 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(413.410) |
(124.861) |
(3.491) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.937 |
0.045 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(415.347) |
(124.906) |
(3.491) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
103.385 |
15.206 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(518.732) |
(140.112) |
(3.491) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
1.719 |
0.581 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(518.732) |
(141.831) |
(4.072) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(1.73) |
(0.47) |
(0.01) |
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 |
(617.476) |
(87.847) |
(2.477) |
|
Net cash flows from (used in) operating activities |
(620.544) |
(94.105) |
(2.534) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(54.36)
|
(97.04) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(43.32)
|
(85.43) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.30) |
(19.03) |
(0.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46) |
(0.25) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.14 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.57 |
0.98 |
56.42 |
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 |
700.000 |
700.000 |
1800.000 |
|
Reserves & Surplus |
(4.072) |
(145.904) |
(664.636) |
|
Net worth |
695.928 |
554.096 |
1135.364 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
154.350 |
|
Total borrowings |
0.000 |
0.000 |
154.350 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.136 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
7.916 |
187.872 |
969.440 |
|
|
|
2273.320 |
416.011 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
7.916 |
187.872 |
969.440 |
|
Profit |
(4.072) |
(141.831) |
(518.732) |
|
|
(51.44%) |
(75.49%) |
(53.51%) |
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 |
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 2 years 6 months
|
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last 2 years 6 months |
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
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
in Million) |
31.03.2011 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working Capital loans from banks |
154.350 |
0.000 |
|
Total |
154.350 |
0.000 |
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.66.09 |
|
|
1 |
Rs.100.88 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
46 |
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.