|
|
|
MIRA INFORM REPORT
|
Report No. : |
501828 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
NIFCO INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 122, Sector 8, Industrial Estate, IMT – Manesar, Gurugram
- 122050, Haryana |
|
Tel. No.: |
91-124-4998212 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2016 |
|
|
|
|
Date of
Incorporation : |
25.06.2010 |
|
|
|
|
Com. Reg. No.: |
05-040767 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 600.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203HR2010FTC040767 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
06AADCN3340G1ZT |
|
|
|
|
TIN No.: |
06941936140 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN3340G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of Manufacturing and Trading of Plastic Fasteners, Plastic Components and Moulds and Dies. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 1641000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Nifco Inc based in Japan. It was incorporated in the year 2010 and engaged in manufacturing and trading of plastic fastners, plastic components and moulds and dies. As per financials of December 2016, the company has registered a growth of 29.55% in its revenue as compared to its previous year’s revenue and has reported good profit margin of 17.40% under review. Rating takes into consideration the company’s satisfactory track record of business operations marked by sound net worth base along with low solvency indicators due to zero debt balance sheet and decent liquidity position. Rating also takes into account the company’s strong financial and managerial support received from its holding entity and well experienced management team. Further, the company has reported earnings per share of INR 15.99 against its face value of INR 100. However, rating strength is partially offset by negative reserves of the company. Payments are reported to be slow but correct. In view of aforesaid, the subject 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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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
31-03-2016.
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 05.04.2018
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 DECLINED BY
MANAGEMENT NON-COOPERATIVE [91-124-4998212]
[91-124-2803366] Not Working
LOCATIONS
|
Registered Office / Factory: |
Plot No. 122, Sector 8, Industrial Estate, IMT – Manesar,
Gurugram-122050, Haryana, India |
|
Tel. No.: |
91-124-4998212 |
|
Fax No.: |
91-124-4998249 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Toshiyuki Yamamoto |
||||||
|
Designation : |
Director |
||||||
|
Address : |
2-32-18, Asahigaoka, Hino-Shi, Tokyo |
||||||
|
Date of Birth/Age : |
11.10.1949 |
||||||
|
Date of Appointment : |
15.03.2013 |
||||||
|
DIN No.: |
06530590 |
||||||
|
Other Directorship:
|
|||||||
|
|
|
||||||
|
Name : |
Mr. Udaya Shankar |
||||||
|
Designation : |
Director |
||||||
|
Address : |
D-705, Awho, Sispal Vihar, South City-2, Sector-49, Sohna Road,
Gurugram- 122018, Haryana, India |
||||||
|
Date of Birth/Age : |
02.11.1964 |
||||||
|
Qualification: |
Graduate |
||||||
|
PAN No.: |
AZHPS3806L |
||||||
|
Date of Appointment : |
01.03.2014 |
||||||
|
DIN No.: |
06841457 |
||||||
|
|
|
||||||
|
Name : |
Mr. Ken Yokota |
||||||
|
Designation : |
Director |
||||||
|
Address : |
6-14-33 Aihara Midori-Ku, Sagamihara Shi Kanagawa 2520239 Japan |
||||||
|
Date of Appointment : |
24.06.2016 |
||||||
|
DIN No.: |
07543548 |
||||||
|
|
|
||||||
|
Name : |
Mr. Minoru Uno |
||||||
|
Designation : |
Director |
||||||
|
Address : |
16-162, Kohazama Kutsukake-Cho Toyoake-Shi Aichi 4701103 Japan |
||||||
|
Date of Appointment : |
24.06.2016 |
||||||
|
DIN No.: |
07552017 |
||||||
KEY EXECUTIVES
|
Name : |
Mr. Hemanshu Yadav |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 132, Parsavnath City, Dharuhera Rewari-123106, Haryana, India |
|
Date of Appointment : |
06.09.2016 |
|
PAN No.: |
ADQPY4730L |
MAJOR SHAREHOLDERS
AS ON 31.12.2016
|
Names of Shareholders |
|
No. of Shares |
|
Nifco Inc., Japan |
|
5999999 |
|
Nifco (Singapore) Pte. Limited, Singapore |
|
1 |
|
|
|
|
|
Total |
|
6000000 |
AS ON: 27.03.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of Manufacturing and Trading of Plastic Fasteners, Plastic Components and Moulds and Dies. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
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 : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
ASA and Associates LLP Chartered Accountants |
|
Address : |
81 / 1 , 3rd Floor, Adchini, Aurbindo Marg , New Delhi - 110017, India |
|
PAN No.: |
AAAFA4690A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Nifco Inc., Japan |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners
with Key management personnel and their
relatives : |
Nifco (Singapore) Pte. Limited |
|
|
|
|
Fellow
Subsidiaries: |
· Nifco Manufacturing (Malaysia) SDN BHD · Nifco South India Private Limited, India · Nifco America Corp, United States · Nifco Hongkong Limited, Hong Kong · Nifco Korea Inc · Nifco Poland Sp Zoo, Poland · Nifco Thailand Company Limited, Thailand · Nifco Uk Limited, United Kingdom · Pt Nifco Indonesia, Indonesia · Union Nifco Thailand, Thailand · Nifco Taiwan Corporation |
CAPITAL STRUCTURE
AS ON 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 100/- each |
INR 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 100/- each |
INR 600.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
600.000 |
600.000 |
600.000 |
|
(b) Reserves &
Surplus |
(25.765) |
(121.724) |
(169.182) |
|
(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) |
574.235 |
478.276 |
430.818 |
|
|
|
|
|
|
(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 |
3.107 |
0.484 |
0.000 |
|
(d) long-term provisions |
9.135 |
10.052 |
8.570 |
|
Total Non-current
Liabilities (3) |
12.242 |
10.536 |
8.570 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
21.567 |
26.167 |
22.462 |
|
(c) Other current
liabilities |
29.221 |
20.628 |
19.410 |
|
(d) Short-term provisions |
42.778 |
5.293 |
4.924 |
|
Total Current Liabilities
(4) |
93.566 |
52.088 |
46.796 |
|
|
|
|
|
|
TOTAL |
680.043 |
540.900 |
486.184 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
92.412 |
112.662 |
146.427 |
|
(ii) Intangible Assets |
0.945 |
1.092 |
1.872 |
|
(iii) Capital
work-in-progress |
4.507 |
0.000 |
1.166 |
|
(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) |
13.364 |
52.174 |
68.178 |
|
(d) Long-term Loan and Advances |
29.030 |
7.071 |
9.025 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
140.258 |
172.999 |
226.668 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
72.304 |
63.399 |
69.146 |
|
(c) Trade receivables |
101.497 |
65.211 |
54.516 |
|
(d) Cash and cash
equivalents |
313.744 |
222.379 |
110.387 |
|
(e) Short-term loans and
advances |
35.651 |
9.218 |
21.872 |
|
(f) Other current assets |
16.589 |
7.694 |
3.595 |
|
Total Current Assets |
539.785 |
367.901 |
259.516 |
|
|
|
|
|
|
TOTAL |
680.043 |
540.900 |
486.184 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
SALES |
|
|
|
|
|
Income |
551.531 |
425.716 |
373.077 |
|
|
Other Income |
17.739 |
9.827 |
8.876 |
|
|
TOTAL |
569.270 |
435.543 |
381.953 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
151.320 |
98.182 |
89.760 |
|
|
Purchases of
Stock-in-Trade |
103.892 |
107.857 |
107.721 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.297) |
(0.437) |
(9.246) |
|
|
Employees benefits
expense |
53.140 |
43.860 |
40.178 |
|
|
CSR Expenditure |
0.546 |
0.000 |
0.000 |
|
|
Other expenses |
82.930 |
68.914 |
58.802 |
|
|
TOTAL |
384.531 |
318.376 |
287.215 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
184.739 |
117.167 |
94.738 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.184 |
0.134 |
0.218 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
184.555 |
117.033 |
94.520 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
34.427 |
53.571 |
43.401 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
150.128 |
63.462 |
51.119 |
|
|
|
|
|
|
|
Less |
TAX |
54.169 |
16.004 |
(74.269) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
95.959 |
47.458 |
125.388 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B.
Value of Exports |
1.856 |
3.579 |
7.237 |
|
|
TOTAL EARNINGS |
1.856 |
3.579 |
7.237 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
15.99 |
7.91 |
20.89 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flow from (used in) operations |
132.619 |
129.851 |
58.887 |
|
|
|
|
|
|
Net cash flow from (used in) operating activities |
92.489 |
120.345 |
56.420 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
67.17 |
55.91 |
53.34 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.43 |
6.53 |
6.84 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
30.84 |
46.36 |
41.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.56 |
1.85 |
1.37 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.89 |
1.03 |
0.63 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.14 |
0.10 |
0.10 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.16 |
0.11 |
0.11 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.17 |
0.24 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1004.02 |
874.38 |
434.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
17.40 |
11.15 |
33.61 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
14.11 |
8.77 |
25.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.71 |
9.92 |
29.10 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
5.77 |
7.06 |
5.55 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
5.00 |
5.85 |
4.07 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.84 |
0.88 |
0.89 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
5.77 |
7.06 |
5.55 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
600.000 |
600.000 |
600.000 |
|
Reserves & Surplus |
(169.182) |
(121.724) |
(25.765) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
430.818 |
478.276 |
574.235 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
373.077 |
425.716 |
551.531 |
|
|
|
14.109 |
29.554 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
373.077 |
425.716 |
551.531 |
|
Profit/
(Loss) |
125.388 |
47.458 |
95.959 |
|
|
33.61% |
11.15% |
17.40% |
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 |
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) |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONAL
PERFORMANCE
The Directors noted with satisfaction, the substantial progress of the Company in the project implementation. The directors are hopeful of consistent performance. The outlook remains encouraging and it is expected that positive trend will continue in furthering the growth of the company.
STATE OF COMPANYS
AFFAIRS:
The Company has reported total income of INR 569.270 Million for the current year as compared to INR 435.543 Million in the previous year. The Net Profit for the year amounted to 95.959 Million in the current year as compared to INR 47.458 Million in the previous year.
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
Tangible Assets:
- Plant and equipment
- Office equipment
- Furniture and Fixture
- Computer equipments
- Leasehold improvements
- Vehicles
Intangible Asset:
- Computer software
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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.79 |
INFORMATION DETAILS
|
Information Gathered
by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
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 |
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.