MIRA INFORM REPORT
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Report No. : |
342921 |
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Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE MOBILESTORE SERVICES LIMITED (w.e.f.
10.08.2010) |
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Formerly Known
As : |
THE MOBILESTORE SERVICES PRIVATE LIMITED (w.e.f.03.09.2007) MOBILE STORE SERVICES PRIVATE LIMITED |
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Registered
Office : |
Equinox Business Park, Building-B, 1st Floor, Old Swan Mills
Compound, L.B.S. Marg, Kurla (West), Mumbai – 400070, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.04.2007 |
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Com. Reg. No.: |
11-169998 |
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Capital Investment
/ Paid-up Capital : |
Rs. 8.400 Million |
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CIN No.: [Company Identification
No.] |
U74999MH2007PLC169998 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM32195C |
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PAN No.: [Permanent Account No.] |
AAFCM1095F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Distributor of telecom, consumer electronics and related products
including mobile handsets, accessories, domestic appliances and other consumer
durable products. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of the MobileStore Services (Mauritius)
Limited, incorporated in the year 2007. It has satisfactory track. Management has registered improved scales of operations with the top
line growth of 9.6%. The company has thin profit margin due to the trading
nature of operations and increasing competition in mobile handset. The rating derives strength from the established promoter group,
association with the leading mobile handset brands and low inventory risk. Trade relations are fair. Business is active. Payments are slow but
correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “B+” |
|
Rating Explanation |
Risk-prone-credit quality and carries very
high credit risk. |
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Date |
25.02.2015 |
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Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4” |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
25.02.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED
Management Non-Cooperative (Tel. No.: 91-22-66601100/ 61276580)
LOCATIONS
|
Registered Office : |
Equinox Business Park, Building-B, 1st Floor, Old Swan
Mills Compound, L.B.S. Marg, Kurla (West), Mumbai – 400070, Maharashtra,
India |
|
Tel. No.: |
91-22-67447727/ 66601100/ 40011100/ 67448996 |
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Fax No.: |
91-22-67082177/ 66669435/ 67447530 |
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E-Mail : |
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Website : |
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Corporate Office : |
Unit 501 and 502, Kohinoor City, Kirol Road, Off LBS Marg, Kurla
(West), Mumbai – 400070, Maharashtra, India |
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Tel. No.: |
91-22-60006363 |
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E-Mail : |
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Retail Offices : |
Located at: ·
Kolkata ·
Chennai ·
·
·
·
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Narottam Banulal Vyas |
|
Designation : |
Director |
|
Address : |
A-3/1701, Whispering Palms, Lokhandwala Complex, Akurli Road, Kandivali
(East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
03.07.1954 |
|
Qualification : |
Chartered
Accountant and Company Secretary |
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Date of Appointment : |
15.12.2009 |
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DIN No.: |
00055499 |
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|
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Name : |
Mr. Mark Agnelo Silgardo |
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Designation : |
Director |
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Address : |
402/502, Anclare Abode, Plot No.96, St. Andrews Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
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Date of Birth/Age : |
20.04.1958 |
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Qualification : |
MBA in International
Finance, Post graduate studies in Marketing |
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Date of Appointment : |
03.03.2010 |
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DIN No.: |
02298310 |
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Name : |
Mr. Neeraj Gupta |
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Designation : |
Director |
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Address : |
Flat No.3, 2nd
Floor, Samudra Gaurav Apartments, Worli Sea Face, Worli, Mumbai - 400025,
Maharashtra, India |
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Date of Birth/Age : |
20.11.1968 |
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Qualification : |
Chartered
Accountant |
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Date of Appointment : |
15.12.2009 |
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DIN No.: |
00317395 |
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|
|
|
Name : |
Mr. Alok Gupta |
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Designation : |
Director |
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Address : |
S-1202, The Imperial, Tardeo, Mumbai – 400034, Maharashtra, India |
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Date of Birth/Age : |
02.05.1966 |
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Qualification : |
Management Graduate
and Attended the Advanced Management Program at Harvard Business School |
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Date of Appointment : |
18.04.2011 |
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DIN No.: |
02330045 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
The Mobilestore Limited, |
9998 |
|
Rajiv Agarwal - Nominee and The
Mobilestore Limited, India |
1 |
|
The Mobilestore Services (Mauritius) Limited, Mauritius |
700000 |
|
Tara India Holdings A Limited, Mauritius |
10 |
|
IL&FS Trust Company Limited on behalf of Tara India Fund III
Domestic Trust, India |
10 |
|
IL&FS Trust Company Limited on behalf of Tara India Fund III
Trust, India |
10 |
|
Narottam Babulal Vyas – Nominee and The Mobilestore Limited, India |
1 |
|
Essar Retail Holdings Limited, India |
33437 |
|
Bennett Coleman and Company Limited, India |
100 |
|
Total |
743567 |
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Names of Preference Shareholders |
No. of Shares |
|
Tara India Holdings A Limited, Mauritius |
76663 |
|
IL&FS Trust Company Limited on behalf of Tara India Fund III
Domestic Trust, India |
14005 |
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IL&FS Trust Company Limited on behalf of Tara India Fund III
Trust, India |
11844 |
|
The Mobile Store Limited, India |
41000000 |
|
Total |
41102512 |
As on 30.09.2014
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 |
94.14 |
|
Bodies corporate |
5.86 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of telecom, consumer electronics and related products
including mobile handsets, accessories, domestic appliances and other consumer
durable products. |
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Products : |
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Brand Names : |
Not Available |
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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 : |
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 management |
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Bankers : |
· UCO Bank, Flagship Corporate Branch, Nariman Point, Mumbai - 400021, Maharashtra, India ·
Punjab National Bank, Raheja Chambers, Nariman
Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
NOTE Primary Security: First Pari-passu charge on the
Borrower's stocks of raw materials, semi-finished and finished goods,
consumable stores, book debts/ receivables and such other movables. Second
pari-passu charge on all immovable and movable fixed assets of the company
and assignment of charge on all fixed and movable assets of The MobileStore
Limited (TMSL). Collateral Security: Following collateral
security on pari-passu basis with other working capital consortium lenders:-
Corporate Guarantee from Essar Retail Holdings Limited. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
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Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai - 400028, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
The MobileStore Services (Mauritius) Limited |
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Other Related
Parties : |
· Aegis Limited CIN No.: U99999MH1992PLC064767 · The MobileStore Services (Mauritius) Limited, Mauritius · Essar Global Fund Limited (EGFL), Cayman Islands |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
41,500,000 |
Preference Shares |
Rs.10/- each |
Rs. 415.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 435.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
743,567 |
Equity Shares |
Rs.10/- each |
Rs. 7.436 Million |
|
41,102,512 |
Preference Shares |
Rs.10/- each |
Rs. 411.025 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 418.461
Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 25.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
743467 |
Equity Shares |
Rs.10/- each |
Rs. 7.400
Million |
|
102512 |
Preference Shares |
Rs.10/- each |
Rs. 1.000
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 8.400 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 |
8.400 |
8.400 |
8.400 |
|
(b) Reserves & Surplus |
586.200 |
583.600 |
572.300 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
410.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1004.600 |
592.000 |
580.700 |
|
|
|
|
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|
(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 |
38.200 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.200 |
5.200 |
3.600 |
|
Total Non-current
Liabilities (3) |
41.400 |
5.200 |
3.600 |
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
984.200 |
672.000 |
0.000 |
|
(b) Trade
payables |
1879.500 |
711.000 |
710.500 |
|
(c) Other
current liabilities |
473.100 |
1073.900 |
197.100 |
|
(d) Short-term
provisions |
0.800 |
11.000 |
8.800 |
|
Total Current
Liabilities (4) |
3337.600 |
2467.900 |
916.400 |
|
|
|
|
|
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TOTAL |
4383.600 |
3065.100 |
1500.700 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
0.000 |
0.100 |
2.100 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
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 |
0.000 |
|
(d) Long-term Loan and Advances |
188.100 |
174.000 |
2.200 |
|
(e) Other
Non-current assets |
1.700 |
1.800 |
1.500 |
|
Total Non-Current
Assets |
189.800 |
175.900 |
5.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
69.400 |
8.500 |
17.700 |
|
(c) Trade
receivables |
4006.500 |
2790.300 |
1049.200 |
|
(d) Cash
and cash equivalents |
32.300 |
10.900 |
0.200 |
|
(e)
Short-term loans and advances |
85.600 |
79.500 |
427.800 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4193.800 |
2889.200 |
1494.900 |
|
|
|
|
|
|
TOTAL |
4383.600 |
3065.100 |
1500.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15103.400 |
13776.100 |
12084.700 |
|
|
|
Other Income |
20.500 |
10.400 |
61.800 |
|
|
|
TOTAL (A) |
15123.900 |
13786.500 |
12146.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
14825.600 |
13454.400 |
11852.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(60.900) |
9.200 |
18.500 |
|
|
|
Employees benefits expense |
66.900 |
170.400 |
194.700 |
|
|
|
Other expenses |
83.100 |
139.200 |
67.800 |
|
|
|
TOTAL (B) |
14914.700 |
13773.200 |
12133.300 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
209.200 |
13.300 |
13.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
206.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.700 |
13.300 |
13.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.100 |
2.000 |
2.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
2.600 |
11.300 |
11.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2.600 |
11.300 |
11.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(373.800) |
(385.100) |
(396.300) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(371.200) |
(373.800) |
(385.100) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.50 |
15.19 |
15.07 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
85.400 |
789.600 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
213.500 |
(45.200) |
238.700 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.02 |
0.08 |
0.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.39 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.06 |
0.37 |
0.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.06 |
2.47 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.17 |
1.63 |
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 |
8.400 |
8.400 |
8.400 |
|
Reserves & Surplus |
572.300 |
583.600 |
586.200 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
410.000 |
|
Net
worth |
580.700 |
592.000 |
1004.600 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
672.000 |
984.200 |
|
Current maturities of
long-term debts |
0.000 |
789.600 |
85.400 |
|
Total
borrowings |
0.000 |
1461.600 |
1069.600 |
|
Debt/Equity
ratio |
0.000 |
2.469 |
1.065 |
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 |
12084.700 |
13776.100 |
15103.400 |
|
|
|
13.996 |
9.635 |
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 |
12084.700 |
13776.100 |
15103.400 |
|
Profit |
11.200 |
11.300 |
2.600 |
|
|
0.09% |
0.08% |
0.02% |
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 |
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10511510 |
25/07/2014 |
130,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, ATLANTA,, FIRST FLOOR, NARIMAN POINT,, MUMBAI,
Maharashtra - 400021, INDIA |
C14011886 |
|
2 |
10496519 |
05/05/2014 |
130,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
1ST FLOOR, NATIONAL BUSINESS CENTRE, (NEAR MMRDA, |
C05102223 |
|
3 |
10466822 |
13/12/2013 |
706,600,000.00 |
Punjab National Bank as the Lead Bank |
Raheja Chambers, I Floor,, Nariman Point,, Mumbai , Maharashtra -
400021, INDIA |
B92224690 |
|
4 |
10456966 |
05/10/2013 |
70,000,000.00 |
The Jammu and Kashmir Bank Limited |
1st Floor, National Business Center, (Near MMRDA, |
B88263330 |
|
5 |
10452258 |
28/09/2013 |
100,000,000.00 |
UCO Bank |
FLAGSHIP CORPORATE BRANCH,, NARIMAN POINT,, MUMBAI, Maharashtra -
400021, INDIA |
B86345402 |
|
6 |
10454094 |
27/09/2013 |
67,400,000.00 |
STATE BANK OF PATIALA |
Atlanta, 1st Floor, Jamnalal Bajaj Marg,, Nariman |
B87115416 |
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Copyrights, Patents and Other Operating Rights
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 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.6.09 |
|
|
1 |
Rs.00.88 |
|
Euro |
1 |
Rs.73.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared by
: |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.