|
|
|
MIRA INFORM REPORT
|
Report No. : |
503221 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KHM DRIVE SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 31, Sector 5, Parwanoo – 173220, Himachal Pradesh |
|
Tel. No.: |
91-1792-232523 / 234270 / 234422 |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
25.03.2011 |
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|
|
|
Com. Reg. No.: |
06-031604 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 150.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35900HP2011PTC031604 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAECK2871J |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
02AAECK2871J1ZM |
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|
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Legal Form : |
Private Limited Liability Company. |
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|
|
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Line of Business
: |
Manufacturing of Components of Automobile. (Registered activity) |
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|
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No. of Employees
: |
Not Available |
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 900000 |
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|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “Koritu Co Limited, Japan” and was
incorporated in the year 2011. It is having good track. For the FY 2017, the company has increased in its revenue from
operation as compared to previous year and maintained average profit margin
of 3.68%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base along with low debt balance sheet. Further, the company also derives strength from its holding company
support, long standing track records of business operation and improvement in
the revenue as well as profitability profile during the year. Trade relations are fair. Payment term seems to be regular. In view of aforesaid, the company can be considered good for normal
business dealings at usual trade terms and conditions. |
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2018.
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
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.
LOCATIONS
|
Registered Office : |
Plot No. 31, Sector 5, Parwanoo – 173220, Himachal Pradesh, India |
|
Tel. No.: |
91-1792-232523 / 234270 / 234422 |
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Fax No.: |
91-1792-232923 |
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E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 121, Sector-8, IMT Manesar, Gurugram - 122050, Haryana, India |
|
Tel. No.: |
91-124-4048700 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Anil Sehgal |
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Designation : |
Director |
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|
Address : |
M.I.G. – 277, Sector 4, Parwanoo – 173220, Himachal Pradesh, India |
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Date of Birth/Age : |
11.12.1957 |
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Qualification : |
BSC (Mech Engg.) |
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Date of Appointment : |
25.03.2011 |
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PAN No.: |
ABMPS0662B |
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DIN No.: |
01082917 |
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Other Directorship:
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Name : |
Mr. Kosuke Hayashi |
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Designation : |
Director |
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Address : |
2-21-12, Tokukura Mishima-Shi Shizuoka 4110857 Japan |
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Date of Birth/Age : |
03.04.1958 |
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Date of Appointment : |
09.02.2012 |
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DIN No.: |
05197458 |
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Name : |
Mr. Toshiyuki Suzuki |
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Designation : |
Director |
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Address : |
45-15, Yamate-Cho Naka-Ku Hamamatsu 4320000 Japan |
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Date of Birth/Age : |
28.02.1952 |
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Date of Appointment : |
09.02.2012 |
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DIN No.: |
05197464 |
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Name : |
Mr. Yoshio Kamihara |
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Designation : |
Managing Director |
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Address : |
2261-3, Kamiishida-Cho Higashi-Ku Hamamatsu 4320000 Japan |
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Date of Birth/Age : |
15.03.1951 |
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Date of Appointment : |
09.02.2012 |
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DIN No.: |
05197467 |
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|
||||||||||||||||
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Name : |
Mr. Yoshiki Kamihara |
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Designation : |
Wholetime Director |
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Address : |
B74, Parkplace, DLF Phase 5, Sector 56, Gurgaon – 122009, Haryana, India |
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Date of Birth/Age : |
23.08.1974 |
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Qualification : |
MBA |
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Date of Appointment : |
01.04.2013 |
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PAN No.: |
CMPPK3175B |
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DIN No.: |
06817427 |
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KEY EXECUTIVES
|
Name : |
Mr. Ashish Sanghi |
|
Designation : |
Company Secretary |
|
Address : |
173-A, Vipul World, Sector - 48, Gurugram – 122001, Haryana, India |
|
Date of Birth/Age : |
02.05.1982 |
|
Qualification : |
CS |
|
Date of Appointment : |
12.08.2015 |
|
PAN No.: |
ENLPS0462Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Anil Sehgal |
|
10000 |
|
Koritu Co. Limited, Japan |
|
8775000 |
|
Hayashi Kogyo Limited |
|
1125000 |
|
Micro Turner (Through its Partner Sh. Anil Sehgal) |
|
5090000 |
|
|
|
|
|
Total |
|
15000000 |
Equity Share Break up (Percentage of Total Equity)
As on 2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
0.07 |
|
Promoter - Bodies
corporate |
66.00 |
|
Promoter – Others – Partnership Firm |
33.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Components of Automobile. (Registered activity) |
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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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Kansal Singla and Associates Chartered Accountants |
|
Address : |
SCO-80-81, 4th Floor, Sector-17-C, Chandigarh – 160019, Punjab, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK9144R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
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Associate : |
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CAPITAL STRUCTURE
After 29.09.2017
Authorised Capital : INR 300.000 Million
Issued, Subscribed & Paid-up Capital : INR 180.000
Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
150.000 |
150.000 |
150.000 |
|
(b) Reserves and Surplus |
169.594 |
128.475 |
92.541 |
|
(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) |
319.594 |
278.475 |
242.541 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
75.454 |
116.172 |
150.801 |
|
(b) Deferred tax liabilities (Net) |
26.055 |
28.322 |
19.135 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.169 |
2.593 |
1.952 |
|
Total Non-current
Liabilities (3) |
104.678 |
147.087 |
171.888 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
283.972 |
250.762 |
199.274 |
|
(c) Other
current liabilities |
66.866 |
70.321 |
56.173 |
|
(d) Short-term
provisions |
51.063 |
36.867 |
22.676 |
|
Total Current
Liabilities (4) |
401.901 |
357.950 |
278.123 |
|
|
|
|
|
|
TOTAL |
826.173 |
783.512 |
692.552 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
322.717 |
335.192 |
344.674 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
8.165 |
10.737 |
0.000 |
|
(e) Other
Non-current assets |
5.237 |
4.993 |
3.340 |
|
Total Non-Current
Assets |
336.119 |
350.922 |
348.014 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
154.786 |
157.759 |
136.092 |
|
(c) Trade
receivables |
96.090 |
127.267 |
65.545 |
|
(d) Cash and
bank balances |
102.205 |
17.695 |
19.472 |
|
(e)
Short-term loans and advances |
9.714 |
11.860 |
10.342 |
|
(f) Other
current assets |
127.259 |
118.009 |
113.087 |
|
Total Current
Assets |
490.054 |
432.590 |
344.538 |
|
|
|
|
|
|
TOTAL |
826.173 |
783.512 |
692.552 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1118.104 |
928.381 |
794.012 |
|
|
Other Income |
10.056 |
3.049 |
20.058 |
|
|
TOTAL |
1128.160 |
931.430 |
814.070 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
860.441 |
647.218 |
561.213 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.961) |
15.749 |
(9.482) |
|
|
Employee benefit expense |
56.179 |
43.420 |
33.259 |
|
|
CSR expenditure |
1.267 |
0.776 |
0.000 |
|
|
Other expenses |
102.117 |
92.515 |
74.274 |
|
|
TOTAL |
1007.043 |
799.678 |
659.264 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
121.117 |
131.752 |
154.806 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.709 |
17.145 |
4.657 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
117.408 |
114.607 |
150.149 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
51.628 |
46.712 |
42.441 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
65.780 |
67.895 |
107.708 |
|
|
|
|
|
|
|
Less |
TAX |
24.661 |
31.960 |
22.080 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
41.119 |
35.935 |
85.628 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
35.037 |
28.615 |
0.000 |
|
|
TOTAL EARNINGS |
35.037 |
28.615 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
323.040 |
267.097 |
267.097 |
|
|
Components and spare
parts |
4.447 |
0.000 |
0.000 |
|
|
Capital Goods |
14.064 |
20.563 |
20.563 |
|
|
TOTAL IMPORTS |
341.551 |
287.660 |
287.660 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.741 |
2.396 |
5.709 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
55.128 |
53.643 |
44.297 |
|
Net cash flows from (used in) operations |
162.918 |
73.025 |
70.661 |
|
Net cash flows from (used in) operating activities |
162.918 |
73.025 |
70.661 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
31.37 |
50.04 |
30.13 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
11.64 |
7.29 |
12.11 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
120.46 |
141.42 |
129.60 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.78 |
0.84 |
1.14 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.38 |
0.39 |
0.45 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.64 |
0.67 |
0.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.41 |
0.61 |
0.80 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.26 |
1.29 |
1.15 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.01 |
1.20 |
1.42 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
32.65 |
7.68 |
33.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
3.68 |
3.87 |
10.78 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
4.98 |
4.59 |
12.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
12.87 |
12.90 |
35.30 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.22 |
1.21 |
1.24 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
0.83 |
0.77 |
0.75 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.39 |
0.36 |
0.35 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.87 |
1.13 |
1.30 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.22 |
1.21 |
1.24 |
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 |
150.000 |
150.000 |
150.000 |
|
Reserves & Surplus |
92.541 |
128.475 |
169.594 |
|
Net
worth |
242.541 |
278.475 |
319.594 |
|
|
|
|
|
|
Long-term borrowings |
150.801 |
116.172 |
75.454 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
44.297 |
53.643 |
55.128 |
|
Total
borrowings |
195.098 |
169.815 |
130.582 |
|
Debt/Equity
ratio |
0.804 |
0.610 |
0.409 |
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 |
794.012 |
928.381 |
1118.104 |
|
|
|
16.923 |
20.436 |
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 |
794.012 |
928.381 |
1118.104 |
|
Profit/ (Loss) |
85.628 |
35.935 |
41.119 |
|
|
10.78
% |
3.87
% |
3.68
% |
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 |
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 |
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 |
NOTE: Registered office of the company has been shifted from Plot No. 3, Sector 5, Parwanoo – 173220, Himachal Pradesh, India to the present address w.e.f. 28.03.2011
REVIEW OF BUSINESS
OPERATIONS:
The Company’s operation for the year ended March 31, 2017 resulted in a net profit of INR 41.119 Million as compared to a net profit of INR 35.935 Million in the previous year March 31, 2016. The revenue from operations increased by 20.44% at INR 1118.104 Million for the year as against INR 928.381 Million for the year ended March 31, 2016.
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 records 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 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
KJL |
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.