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|
MIRA INFORM REPORT
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Report No. : |
501663 |
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Report Date : |
03.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SUMANGAL INDIA PRIVATE LIMITED (w. e. f. 26.07.2012) SUMANGAL POLYMERS A DIVISION OF SHREE SUMANGAL INDIA PRIVATE LIMITED |
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Formerly Known
As : |
SUMANGAL CHEMPLAST PRIVATE LIMITED |
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Registered
Office : |
753, Ganpati Peth, Sangli – 416416, Maharashtra |
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Mobile No.: |
91-9322418361 (Mr. Ramesh) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.08.2009 |
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Com. Reg. No.: |
11-195033 |
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Capital
Investment / Paid-up Capital : |
INR 110.000 Million |
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CIN No.: [Company Identification
No.] |
U51900MH2009PTC195033 |
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IEC No.: [Import-Export Code No.] |
03119079181 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AASCS8802M1ZJ |
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TIN No: |
27701173651 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AASCS8802M |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trading of Polyethylene Bags. (Registered activity and also Confirmed
by management) |
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No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Maximum Credit Limit : |
USD 500000 |
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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 was incorporated in the year 2009 and it is having
satisfactory track record. For the financial year 2017, the company has increased in its revenue
from operations as compared to previous year and maintained minimal
profitability margin of 0.64%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and average debt balance sheet. The rating also reflects from its improvement in the revenue as well
as profitability profile during the year and extensive experience of the
promoter in the polymer industry. However, rating strength is partially offset due to low profit margin
and risk associated with trading nature of the business. Trade relations are reported as fair. Business is active. Payments terms
are reported to be slow but correct. In view of the 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating (BB) |
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Rating Explanation |
Moderate risk of default. |
|
Date |
27.02.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 03.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Ms. Viprali |
|
Designation : |
Account Officer |
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Contact No.: |
91-9322418361 |
|
Date : |
02.04.2018 |
LOCATIONS
|
Registered Office : |
753, Ganpati Peth, Sangli – 416416, Maharashtra |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9370535431 (Mrs. Jayshree Khushaldas Parekh) 91-9769994964 (Mr. Piyush Yogesh Parekh) 91-9920286888 (Mr. Umang Rajesh Parekh) 91-9322418361 (Ms. Viprali) |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
431, 4th Floor, Gundecha Industrial Compound, Akurli Road,
Kandivali (East), Mumbai - 400101, Maharashtra, India |
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Tel. No.: |
91-22-28464617/ 18 |
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Fax No.: |
91-22-28464619 |
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Warehouse : |
Located at : Harihar Complex, Bhiwandi, Thane, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Umang Rajesh Parekh |
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Designation : |
Managing Director |
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Address : |
1602, Thakur Jewel, 120 Feet Road, Near Thakur College of Science and Commerce, Thakur Village, Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
01.10.1988 |
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Qualification : |
Graduation |
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Date of Appointment : |
19.08.2009 |
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PAN No.: |
AQGPP5128A |
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DIN No.: |
02517725 |
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Name : |
Mr. Piyush Yogesh Parekh |
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Designation : |
Wholetime Director |
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Address : |
Flat No. 1702, 17th Floor, Building No. 5818 A/2 10 792/11/C, Thakur Jewel, 120 Feet Road, Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
06.11.1988 |
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Qualification : |
Graduation |
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Date of Appointment : |
23.05.2014 |
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PAN No.: |
AQGPP5127R |
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DIN No.: |
02541090 |
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Other Directorship:
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Name : |
Mrs. Jayshree Khushaldas Parekh |
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Designation : |
Wholetime Director |
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Address : |
1202, Thakur Jewels, 120 Feet Road, Near Thakur College, Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
11.02.1955 |
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Date of Appointment : |
30.09.2016 |
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PAN No.: |
ABXPP7000P |
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DIN No.: |
02613163 |
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KEY EXECUTIVES
|
Name : |
Mr. Dilip Pange |
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Designation : |
Company Secretary in Practice |
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Address : |
Prabhakar Plaza, B-FO-3, 4th Floor, Dabholkar Corner,
Station Road, Kolhapur – 416001, Maharashtra, India |
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Tel. No: |
91-22-2662660/ 2661660 |
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Mob. No: |
91-9822012508 |
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Email: |
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|
Name : |
Ms. Viprali |
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Designation : |
Account Officer |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age of holding |
|
Yogesh Balwantrai Parekh |
10995000 |
99.95 |
|
Umang Rajesh Parekh |
5000 |
0.05 |
|
Total |
11000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Polyethylene Bags. (Registered activity and also Confirmed
by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Dubai |
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Terms : |
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Selling : |
Cash, L/C and Credit (30/60 Days) |
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Purchasing : |
Cash, L/C and Credit (30/60 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, End users
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No. of Employees : |
12 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V. T. and Associates Chartered Accountants |
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Address : |
168, Vakhar, Bhag, Sangli – 416416, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFV3492E |
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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 : |
U51410MH2005PTC153841
U51909MH2005PTC154186 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
INR 10/- each |
INR 110.000
Million |
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FINANCIAL DATA
[all figures are
in INRMillion]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
110.000 |
110.000 |
110.000 |
|
(b) Reserves and Surplus |
66.007 |
37.969 |
12.399 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
176.007 |
147.969 |
122.399 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.900 |
0.896 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.900 |
0.896 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
347.361 |
178.313 |
124.550 |
|
(b) Trade
payables |
123.083 |
93.762 |
129.864 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
25.604 |
22.772 |
8.915 |
|
Total Current
Liabilities (4) |
496.048 |
294.847 |
263.329 |
|
|
|
|
|
|
TOTAL |
672.055 |
443.716 |
386.624 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2.330 |
3.217 |
0.998 |
|
(ii)
Intangible Assets |
41.219 |
48.493 |
57.051 |
|
(iii) Tangible assets
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 |
0.444 |
0.444 |
0.444 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
43.993 |
52.154 |
58.493 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
13.856 |
6.918 |
0.593 |
|
(c) Trade
receivables |
502.473 |
298.618 |
246.580 |
|
(d) Cash and
bank balances |
47.739 |
37.128 |
39.421 |
|
(e) Short-term
loans and advances |
0.302 |
0.252 |
0.115 |
|
(f) Other
current assets |
63.692 |
48.646 |
41.422 |
|
Total
Current Assets |
628.062 |
391.562 |
328.131 |
|
|
|
|
|
|
TOTAL |
672.055 |
443.716 |
386.624 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4438.444 |
3522.564 |
4054.704 |
|
|
Other Income |
0.016 |
0.511 |
51.712 |
|
|
TOTAL |
4438.460 |
3523.075 |
4106.416 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3112.918 |
2451.894 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
1184.700 |
959.076 |
4005.024 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.938) |
(6.324) |
4.423 |
|
|
Employee benefit expense |
13.586 |
7.961 |
8.795 |
|
|
Other expenses |
65.171 |
34.597 |
36.152 |
|
|
TOTAL |
4369.437 |
3447.204 |
4054.394 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
69.023 |
75.871 |
52.022 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.037 |
28.983 |
29.099 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
51.986 |
46.888 |
22.923 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
8.217 |
9.195 |
10.464 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
43.769 |
37.693 |
12.459 |
|
|
|
|
|
|
|
Less |
TAX |
15.209 |
12.123 |
4.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
28.560 |
25.570 |
8.459 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.596 |
2.325 |
0.769 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(132.158) |
37.693 |
12.459 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(147.367) |
24.817 |
12.459 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
41.32 |
30.94 |
22.20 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
8.83 |
11.80 |
16.44 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
10.45 |
10.03 |
11.84 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
4.98 |
10.97 |
87.73 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
1.58 |
1.47 |
0.90 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.74 |
0.67 |
0.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.97 |
1.21 |
1.02 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
2.82 |
1.99 |
2.15 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.25 |
0.35 |
0.47 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
4.05 |
2.62 |
1.79 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.64 |
0.73 |
0.21 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
4.25 |
5.76 |
2.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
16.23 |
17.28 |
6.91 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.27 |
1.33 |
1.25 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.24 |
1.30 |
1.24 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.26 |
0.33 |
0.32 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
3.16 |
1.63 |
1.14 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
1.27 |
1.33 |
1.25 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
110.000 |
110.000 |
110.000 |
|
Reserves & Surplus |
12.399 |
37.969 |
66.007 |
|
Net
worth |
122.399 |
147.969 |
176.007 |
|
|
|
|
|
|
Long-term borrowings |
0.896 |
0.900 |
0.000 |
|
Short term borrowings |
124.550 |
178.313 |
347.361 |
|
Total
borrowings |
125.446 |
179.213 |
347.361 |
|
Debt/Equity
ratio |
1.025 |
1.211 |
1.974 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4054.704 |
3522.564 |
4438.444 |
|
|
|
(13.124) |
26.000 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4054.704 |
3522.564 |
4438.444 |
|
Profit/ (Loss) |
8.459 |
25.570 |
28.560 |
|
|
0.21
% |
0.73
% |
0.64
% |
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 |
Yes |
|
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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: Registered office of the company has been
shifted from 432, Gundecha Industrial Complex, Akruli Road, Kandivali (East),
Mumbai - 400101, Maharashtra, India to the
present address w.e.f. 29.03.2013.
REVIEW OF BUSINESS
OPERATIONS STATE OF COMPANY’S AFFAIRS
The Company has reported total Revenue of INR 4438.460 million for the current year as compared to INR 3523.075 million in the previous year. The Net Profit for the year amounted to INR 28.560 million in the current year as compared to Profit of INR 25.570 million in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
0.000 |
0.900 |
|
Total |
0.000 |
0.900 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B76678457 |
10429316 |
STATE BANK OF INDIA |
15/04/2013 |
16/04/2013 |
- |
350000000.0 |
SME Goregaon East Branch, 1st Floor, Kohinoor Industrial Estate, Mumbai – 400063, Maharashtra, India |
FIXED ASSETS
- Land
- Furniture and Fixture
- Computer
- Vehicle
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
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.