|
|
|
MIRA INFORM REPORT
|
Report No. : |
503789 |
|
Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOKAI RUBBER AUTO-PARTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 337, Phase II, KIADB Harrohalli Industrial Area, Kanakapura
Taluka, Ramnagar, Bangalore – 561112, Karnataka |
|
Mobile No.: |
91-9686192235 (Mr. Madhukesh) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
22.04.2008 |
|
|
|
|
Com. Reg. No.: |
08-046147 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2500.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190KA2008PTC046147 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0709013418 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT9033B |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The
Company is engaged in the business of Manufacture and Trading of Automotive
Components like Anti-Vibration Rubber Products. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is subsidiary of “SUMITOMO RIKO COMPANY LIMITED”, Japan. The
company was incorporated in the year 2008 and is based in Bangalore,
Karnataka. It is an established company having satisfactory track record. The company is continuously incurring losses from its operational
activities. However, the rating takes into consideration healthy capital base
along with comfortable debt level and favourable gap between trade payables
to its trade receivables. Rating also takes into account of strong financial and managerial
support that company receives from its holding entity backed by its well
experienced management team. Trade relations are reported as fair. Business is active. Payment
terms are seems to be slow but correct. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
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 17.02.2018
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 DENIED
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-9686192235)
91-80-39919900 / 39919903 (NOT WORKING)
LOCATIONS
|
Registered/ Head Office : |
Plot No. 337, Phase II, KIADB Harrohalli Industrial Area, Kanakapura
Taluka, Ramnagar, Bangalore – 561112, Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9686192235 (Mr. Madhukesh) |
|
Fax No.: |
91-80-39919901 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10 Acers |
|
|
|
|
Factory : |
Plot No. SP2-60 to 64, New Industrial Complex (Majrakath), Neemrana,
District Alwar – 301705, Rajasthan, India |
|
Area : |
8 Acers |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Hirotomo Kodama |
|
Designation : |
Managing Director |
|
Address : |
B-905, No 18, Prestige St Johns Wood, B-Block, 2nd
Cross Road, Chikka Adugodi, Bangalore – 560029, Karnataka, India |
|
Date of Birth/Age : |
06.10.1958 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
02.02.2017 |
|
PAN No.: |
ETIPK6603L |
|
DIN No.: |
07706322 |
|
|
|
|
Name : |
Toshio Iida |
|
Designation : |
Director |
|
Address : |
No. C 1 704, Uniworld City, Sector 32, 40, Gurugram – 122001, Haryana,
India |
|
Date of Birth/Age : |
03.04.1966 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
20.09.2013 |
|
PAN No.: |
ACMPI3327C |
|
DIN No.: |
06610919 |
|
|
|
|
Name : |
Tsutomu Matsuoka |
|
Designation : |
Director |
|
Address : |
3-234, Kashiwai-Cho Kasugai Shi NA Japan |
|
Date of Appointment : |
03.08.2017 |
|
DIN No.: |
02151729 |
KEY EXECUTIVES
|
Name : |
Mr. Anand M S |
|
Designation : |
Company Secretary |
|
Address : |
Door No 573, 4th Cross, 8th A Main,
R P C layout, Vijayangara, 2nd Stage, Bangalore – 560104, Karnataka, India |
|
Date of Appointment : |
03.03.2014 |
|
PAN No.: |
AVIPA2447A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sumitomo Riko Company Limited (Formerly known as Tokai Rubber
Industries Limited), Japan |
2000000 |
80.00 |
|
Tokai Eastern Rubber (Thailand), Limited, Thailand |
500000 |
20.00 |
|
Total |
2500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 04.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
Company is engaged in the business of Manufacture and Trading of Automotive
Components like Anti-Vibration Rubber Products. [Registered Activity] |
||||
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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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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road,
Bangalore – 560025, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
|
|
|
|
|
Fellow Subsidiaries
: |
U25190DL2011FTC224857
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 1000/- each |
INR 2500.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 1000/- each |
INR 2500.000 Million |
FINANCIAL DATA
[all figures are
in INR 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 |
2500.000 |
2500.000 |
1800.000 |
|
(b) Reserves and Surplus |
(1536.707) |
(1349.822) |
(1149.124) |
|
(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) |
963.293 |
1150.178 |
650.876 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.839 |
2.662 |
2.107 |
|
Total Non-current
Liabilities (3) |
4.839 |
2.662 |
2.107 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
595.000 |
325.000 |
760.000 |
|
(b) Trade
payables |
274.517 |
226.688 |
210.665 |
|
(c) Other
current liabilities |
57.212 |
70.697 |
42.782 |
|
(d) Short-term
provisions |
0.600 |
0.250 |
0.191 |
|
Total Current
Liabilities (4) |
927.329 |
622.635 |
1013.638 |
|
|
|
|
|
|
TOTAL |
1895.461 |
1775.475 |
1666.621 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
952.195 |
972.733 |
976.427 |
|
(ii)
Intangible Assets |
0.113 |
2.128 |
4.777 |
|
(iii) Tangible assets
capital work-in-progress |
3.246 |
0.000 |
0.393 |
|
(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 |
8.716 |
12.420 |
8.737 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
964.270 |
987.281 |
990.334 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
258.940 |
232.664 |
181.639 |
|
(c) Trade
receivables |
288.317 |
254.260 |
149.825 |
|
(d) Cash and
bank balances |
128.360 |
59.352 |
106.975 |
|
(e)
Short-term loans and advances |
192.026 |
192.757 |
191.410 |
|
(f) Other
current assets |
63.548 |
49.161 |
46.438 |
|
Total
Current Assets |
931.191 |
788.194 |
676.287 |
|
|
|
|
|
|
TOTAL |
1895.461 |
1775.475 |
1666.621 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1817.935 |
1389.974 |
1182.825 |
|
|
Other Income |
1.398 |
2.200 |
5.595 |
|
|
TOTAL |
1819.333 |
1392.174 |
1188.420 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1349.570 |
1113.324 |
951.050 |
|
|
Purchases of
Stock-in-Trade |
85.996 |
54.073 |
56.656 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.554) |
(54.946) |
18.706 |
|
|
Employee benefit expense |
148.571 |
111.562 |
97.932 |
|
|
Other expenses |
265.530 |
220.098 |
174.381 |
|
|
TOTAL |
1837.113 |
1444.111 |
1298.725 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(17.780) |
(51.937) |
(110.305) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.745 |
16.795 |
66.029 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(55.525) |
(68.732) |
(176.334) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
131.360 |
131.966 |
139.337 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(186.885) |
(200.698) |
(315.671) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(186.885) |
(200.698) |
(315.671) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
230.564 |
10.229 |
|
|
Other
Earning |
NA |
0.053 |
0.027 |
|
|
TOTAL EARNINGS |
NA |
230.617 |
8.851 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
94.046 |
48.961 |
|
|
|
NA |
21.734 |
15.100 |
|
|
Components and spare
parts |
NA |
7.161 |
6.773 |
|
|
Capital Goods |
NA |
82.057 |
27.850 |
|
|
TOTAL IMPORTS |
NA |
204.998 |
98.684 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(74.754) |
(80.279) |
(126.268) |
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 |
(27.031) |
(188.616) |
(131.085) |
|
Net cash flows from (used in) operating activities |
(26.996) |
(188.058) |
(130.325) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
57.89 |
66.77 |
46.23 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
6.31 |
5.47 |
7.89 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
69.80 |
70.88 |
76.30 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
(0.07) |
(0.22) |
(0.61) |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
(0.02) |
(0.05) |
(0.11) |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.49 |
0.35 |
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.62 |
0.28 |
1.17 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.96 |
0.54 |
1.56 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.99 |
0.85 |
1.51 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
(0.47) |
(3.09) |
(1.67) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
(10.28) |
(14.44) |
(26.69) |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
(9.86) |
(11.30) |
(18.94) |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
(19.40) |
(17.45) |
(48.50) |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.00 |
1.27 |
0.67 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.72 |
0.89 |
0.49 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.51 |
0.65 |
0.39 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.24 |
0.13 |
0.42 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.00 |
1.27 |
0.67 |
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 |
1800.000 |
2500.000 |
2500.000 |
|
Reserves & Surplus |
(1149.124) |
(1349.822) |
(1536.707) |
|
Net
worth |
650.876 |
1150.178 |
963.293 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
760.000 |
325.000 |
595.000 |
|
Total
borrowings |
760.000 |
325.000 |
595.000 |
|
Debt/Equity
ratio |
1.168 |
0.283 |
0.618 |
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 |
1182.825 |
1389.974 |
1817.935 |
|
|
|
17.513 |
30.789 |
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 |
1182.825 |
1389.974 |
1817.935 |
|
Profit/ (Loss) |
(315.671) |
(200.698) |
(186.885) |
|
|
(26.69
%) |
(14.44
%) |
(10.28
%) |
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 No. 48-D, Survey No. 65, KIADB Industrial
Area, Yellapura Village, Doddaballapura, Bangalore – 561203, Karnataka, India
to the present address w.e.f. 22.11.2011
BACKGROUND OF THE
COMPANY
The company was incorporated in April 22, 2008 under the Companies Act, 1956 to manufacture automotive components like Anti-vibration Rubber Products. The Company is a wholly owned subsidiary of Sumitomo Riko Company Limited (Formerly known as Tokai Rubber Industries Limited) Japan.
BRIEF DESCRIPTION OF THE COMPANY’S WORKING
DURING THE YEAR/STATE OF COMPANY’S AFFAIR:
As the company wanted to start the business of sound proof parts for automotive components, our company altered objects clause of the Memorandum of Association at the 8th AGM held on 31st August, 2016 and adopted the memorandum of association in line with new Companies Act 2013 and also new set of regulations to be contained in the articles of association was adopted in substitution and to the entire exclusion of the regulations contained in the existing articles of association of the company.
During the year turnover of your Company is INR as compared to the turnover of INR in the previous year.
The net loss during the year is INR () compared to the net loss of INR () in the previous year.
During June 2016, Several Indian automobile industries were jolted from its pace as the supreme court banned diesel run cars of over 2,000 cc in Delhi-NCR. Several car makers who offer top selling models in this range were wary of this stand.
Automotive industries in India witnessed a decline in sales on account of demonetization of high currency notes. The Indian Economy, this year, faced multiple challenges in the domestic markets. Despite the above challenges, our company was able to reduce its losses during the financial year.
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Factory equipments
· 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, 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 63.93 |
|
|
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KJL |
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.