|
|
|
MIRA INFORM REPORT
|
Report No. : |
497210 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
FRIENDS MEDICOS |
|
|
|
|
Registered
Office : |
Office No. 59, 1st Floor, Rani Jhansi Road, Pahar Ganj, New
Delhi – 110055 |
|
Tel. No.: |
91-11-23554552 / 53 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 (Consolidated) |
|
|
|
|
Year of
Establishment : |
1996 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 160.095 Million (Consolidated) |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0514041528 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAAFF9675Q1ZL |
|
|
|
|
TIN No.: |
07690244290 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFF9675Q |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader and Distributor of Medicines. [Confirmed by Management] |
|
|
|
|
No. of Employees
: |
22 (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 |
|
Maximum Credit Limit : |
USD 457000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
09.10.2017 |
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
31-03-2018.
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 11.04.2018.
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 : |
Mr. Raj Kumar Rawal |
|
Designation : |
Partner |
|
Contact No.: |
91-9312610048 |
|
Date : |
09.04.2018 |
LOCATIONS
|
Registered/ Head Office : |
Office No. 59, 1st Floor, Rani Jhansi Road, Pahar Ganj, New
Delhi – 110055, India |
|
Tel. No.: |
91-11-23554552/ 23554553 |
|
Mobile No.: |
91-9312610048 (Mr. Raj Kumar Rawal) |
|
Fax No.: |
91-11-23554553 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000 Sq. Ft |
|
Location : |
Rented |
|
Locality : |
Commercial |
|
|
|
|
Branch Office 1
: |
26H/29, Radha Madhab, Dutta Garden Lane, Kolkata – 700010, West
Bengal, India |
|
Area : |
600 Sq. Ft |
|
Location : |
Rented |
|
Locality : |
Residential |
|
|
|
|
Branch Office 2 : |
B-45, Sushant Shopping Arcade, DLF City Phase-I, Gurgaon-122002,
Haryana, India |
|
Location : |
Rented |
|
Locality : |
Commercial |
PARTNERS
|
Name : |
Mr. Raj Kumar Rawal |
|
Designation : |
Partner |
|
Address : |
E-1061, Saraswati Vihar, Pitampura, New Delhi, India |
|
Date of Birth/Age : |
07.12.1963 |
|
Qualification : |
Graduate |
|
Experience : |
23 Years |
|
PAN No : |
AAEPR9058F |
|
|
|
|
Name : |
Mr. Praveen Sethi |
|
Designation : |
Partner |
|
Address : |
B-47, Gujarat Apartment, Pitampura, New Delhi, India |
|
Date of Birth/Age : |
06.09.1965 |
|
Qualification : |
Graduate |
|
Experience : |
23 Years |
|
PAN No : |
ATKPS7346G |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Medicines. [Confirmed by Management] |
|
|
|
|
Products : |
Medicines |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
· Roche Products India Private Limited · Novartis India Limited · Cadila Pharmaceuticals Limited · Intas Pharmaceuticals Limited |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Medicines |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit [30 Days] |
|
|
|
|
Purchasing : |
Cheque and Credit [30 Days] |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
|
||||||||||||||||||||||
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|
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|
No. of Employees : |
22 (Approximately) |
||||||||||||||||||||||
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||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Mohit Parekh and Company Chartered Accountants |
|
Address : |
572, Gandhi Cloth Market, 2nd Floor, Chandni Chowk, New Delhi, India |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Capital Investment : |
|
|
Owned : |
INR 160.095 Million |
|
Borrowed : |
---- |
|
Total : |
INR 160.095
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
160.095 |
119.317 |
118.777 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
160.095 |
119.317 |
118.777 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.410 |
18.189 |
62.199 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
13.410 |
18.189 |
62.199 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
173.505 |
137.506 |
180.976 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.486 |
3.767 |
4.218 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
53.265 |
55.860 |
82.661 |
|
|
Sundry Debtors |
175.220 |
129.430 |
131.792 |
|
|
Cash & Bank Balances |
5.565 |
3.264 |
14.974 |
|
|
Other Current Assets |
1.029 |
1.088 |
0.144 |
|
|
Loans & Advances and deposits |
5.868 |
5.717 |
3.381 |
|
Total Current Assets |
240.947 |
195.359 |
232.952 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
67.695 |
60.342 |
54.710 |
|
|
Other Current Liabilities |
1.151 |
1.278 |
1.484 |
|
|
Provisions |
2.082 |
0.000 |
0.000 |
|
Total Current Liabilities |
70.928 |
61.620 |
56.194 |
|
|
Net Current
Assets |
170.019 |
133.739 |
176.758 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
173.505 |
137.506 |
180.976 |
|
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
865.084 |
876.377 |
678.643 |
|
|
Other Income |
8.805 |
12.182 |
12.112 |
|
|
TOTAL |
873.889 |
888.559 |
690.755 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods Sold |
800.528 |
829.537 |
631.584 |
|
|
Import expenses |
0.011 |
0.115 |
3.447 |
|
|
Custom duty and custom
charges |
0.316 |
1.335 |
3.929 |
|
|
Unloading charges |
0.430 |
0.585 |
0.410 |
|
|
Advertisement
and Publicity Expenses |
0.062 |
0.040 |
0.048 |
|
|
AMC Charges |
0.072 |
0.064 |
0.040 |
|
|
Bad Debts |
0.300 |
0.084 |
1.710 |
|
|
Car Insurance |
0.018 |
0.018 |
0.018 |
|
|
Car running and maintenance
Expenses |
0.752 |
0.677 |
0.786 |
|
|
Charity and Donation |
0.480 |
0.480 |
0.603 |
|
|
Commission/ Service Providing
Charges |
0.000 |
1.152 |
1.118 |
|
|
Computer Expenses |
0.141 |
0.107 |
0.132 |
|
|
Conveyance |
1.171 |
0.939 |
0.711 |
|
|
Delivery Charges |
0.667 |
0.661 |
0.880 |
|
|
Electricity Expenses |
0.535 |
0.503 |
0.419 |
|
|
Entry Tax |
0.173 |
0.105 |
0.042 |
|
|
Establishment Expenses |
5.862 |
5.356 |
4.256 |
|
|
ESI-Demand |
0.000 |
0.000 |
0.006 |
|
|
Festivals Expenses |
0.710 |
0.405 |
0.578 |
|
|
Freight and forwarding expenses |
2.813 |
2.304 |
2.185 |
|
|
House Tax |
0.006 |
0.005 |
0.005 |
|
|
Insurance (Others) |
0.107 |
0.107 |
0.105 |
|
|
Interest of TDS/VAT/Service tax
late Deposited |
0.008 |
0.003 |
0.011 |
|
|
Interest on ESIC/ PF Deposited |
0.000 |
0.001 |
0.000 |
|
|
Late Delivery Charges |
0.000 |
0.000 |
0.001 |
|
|
Legal and Professional Charges |
0.348 |
0.279 |
0.329 |
|
|
Loading Expenses |
0.503 |
0.387 |
0.352 |
|
|
Misc. Expenses |
0.013 |
0.007 |
0.015 |
|
|
Retainership charges |
1.759 |
1.005 |
0.000 |
|
|
Newspaper and Periodical
Charges |
0.002 |
0.002 |
0.000 |
|
|
Office Expenses |
0.331 |
0.357 |
0.438 |
|
|
Packing Materials |
0.184 |
0.140 |
0.090 |
|
|
Postage and Stamp Expenses |
0.501 |
0.296 |
0.562 |
|
|
Printing and Stationery
Expenses |
0.300 |
0.388 |
0.528 |
|
|
Professional Tax |
0.003 |
0.003 |
0.000 |
|
|
Rebate and Discount |
0.995 |
0.022 |
0.346 |
|
|
Rent |
1.882 |
1.701 |
1.903 |
|
|
Repairs and maintenance |
0.077 |
0.124 |
0.264 |
|
|
Sales promotion |
1.298 |
1.707 |
0.542 |
|
|
Service Tax Paid- Expenses |
0.345 |
0.389 |
0.000 |
|
|
Staff Welfare Expenses |
0.256 |
0.578 |
0.510 |
|
|
Telephone Expenses |
0.326 |
0.371 |
0.360 |
|
|
Tender Expenses |
0.027 |
0.025 |
0.009 |
|
|
Travelling Expenses |
0.782 |
0.905 |
0.663 |
|
|
Two wheeler Running and
Maintenance Expenses |
0.015 |
0.026 |
0.265 |
|
|
Vat Input Reverse |
0.000 |
0.210 |
0.000 |
|
|
Prior period expenses |
0.033 |
0.000 |
0.000 |
|
|
Duties/ taxes involved in closing stock |
2.082 |
0.000 |
0.000 |
|
|
Vat paid Demand/ Exp |
0.000 |
0.000 |
0.000 |
|
|
Interest on Capital to Partners |
14.385 |
12.734 |
11.499 |
|
|
Remuneration to working partner
|
3.600 |
6.600 |
6.400 |
|
|
TOTAL |
845.209 |
872.839 |
678.099 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, DEPRECIATION AND AMORTISATION |
28.680 |
15.720 |
12.656 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.636 |
2.544 |
3.549 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
DEPRECIATION AND AMORTISATION |
24.044 |
13.176 |
9.107 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.570 |
0.650 |
0.707 |
|
|
|
|
|
|
|
|
NET PROFIT |
23.474 |
12.526 |
8.400 |
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
73.93 |
53.91 |
70.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
4.94 |
6.77 |
5.15 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
30.87 |
26.55 |
31.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.54 |
0.28 |
0.15 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
8.23 |
4.17 |
3.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.35 |
0.40 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.08 |
0.15 |
0.52 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.44 |
0.52 |
0.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.02 |
0.03 |
0.04 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.19 |
6.18 |
3.57 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
2.71 |
1.43 |
1.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.60 |
6.29 |
3.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.66 |
10.50 |
7.07 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.40 |
3.17 |
4.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.65 |
2.26 |
2.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.65 |
0.60 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.08 |
0.15 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.40 |
3.17 |
4.15 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Partners Capital |
118.777 |
119.317 |
160.095 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
118.777 |
119.317 |
160.095 |
|
|
|
|
|
|
Secured Loans |
62.199 |
18.189 |
13.410 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
62.199 |
18.189 |
13.410 |
|
Debt/Equity ratio |
0.524 |
0.152 |
0.084 |
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 |
678.643 |
876.377 |
865.084 |
|
|
|
29.137 |
(1.289) |
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 |
678.643 |
876.377 |
865.084 |
|
Profit |
8.400 |
12.526 |
23.474 |
|
|
1.24% |
1.43% |
2.71% |
LEGAL
CASE
|
|
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 |
Yes |
|
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
No |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
|
OBSERVATION
POINTS |
|
Name of Company : |
FRIENDS MEDICOS |
|
|
|
|
Address : |
Office No. 59, 1st Floor, Rani Jhansi Road, Pahar Ganj, New
Delhi – 110055, India |
|
|
|
|
Mobile No.: |
91-9312610048 |
|
|
|
|
Person to whom we met: |
Mr. Raj Kumar Rawal Designation: Partner |
|
|
|
|
Name Board: |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Near Jhandewalan Mandir |
|
|
|
|
Total Floors of the building: |
4 Floors |
|
|
|
|
Subject situated on : |
1st Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of Premises : |
2500 Sq. ft. |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of Employees
seen at Premises : |
20 |
|
|
|
|
Visibility of
Items: |
|
|
|
|
|
Furniture items
sighted : |
Yes (Tables, Sofa, Chairs, etc.) |
|
|
|
|
Neighbours
Interview : |
|
|
Name of Company
: |
· Eleganze ·
Empire Furniture Co. |
|
|
|
|
Neighbours
Overview: |
They claimed that subject is situated on the given address. |
|
|
|
|
Proof of visit: |
Photograph |
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 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 64.94 |
|
UK Pound |
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.