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|
|
MIRA INFORM REPORT
|
Report No. : |
503333 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
DAIKIN AIRCONDITIONING INDIA PRIVATE LIMITED
(w.e.f.24.12.2004) |
|
|
|
|
Formerly Known
As : |
DAIKIN SHRIRAM AIRCONDITIONING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
210, 1st Floor, Okhla Industrial Area, Phase 3, Delhi - 110 020 |
|
Tel. No.: |
91-124-4555444 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
04.04.2000 |
|
|
|
|
Com. Reg. No.: |
55-104990 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 8029.239 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PTC104990 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0500010323 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AABCD0971F1ZY |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCD0971F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacturing, trading and selling of air conditioning equipment and chillers. (Registered Activity) |
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|
|
|
No. of Employees
: |
2251 (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 27748000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a wholly owned subsidiary of Daikin Industries Limited, Japan and was incorporated in the year 2000. The company is engaged in the business of manufacturing and trading of air conditioning equipment and chillers. As per the financial of 2017, the revenue of the company has been increased by 19.90% as compared to the previous year along with average profitability margin of 3.44%. The rating takes into consideration the company’s strong capital structure marked by sound net worth base along with negligible debt balance sheet profile. Further, rating also takes into consideration the strength that the company derives from its holding company and its well experience management team. However, rating is constrained on account of low reserve base as compared to its equity. Business is active. Payment seems to be usually correct. In view of 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 |
ICRA |
|
Rating |
Long term loans = AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
11.08.2017 |
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 13.04.2018
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 DENIED BY
|
Name : |
Mr. Sanjay Goyal |
|
Designation : |
Director |
|
Contact No.: |
91-98110202604 |
|
Date : |
13.04.2018 |
Management Non-Cooperative (91-124-4555444/4555-333)
LOCATIONS
|
Registered Office : |
210, 1st Floor, Okhla Industrial Area, Phase 3, Delhi - 110 020, India |
|
Tel. No.: |
91-124-4555444 |
|
Mobile No.: |
91-98110202604 (Mr. Sanjay Goyal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
303, Florance Apartments, Above Sharma Hyundai, Ashram Road,
Ahmedabad, Gujarat, India |
|
|
|
|
Corporate Office : |
12th Floor, Building No. 9, Tower A, DLF Cyber City, DLF Phase – III, Gurugram-122002,
Haryana, India |
|
Tel No.: |
91-124-4555444 |
|
Fax No: |
91-124-4555333 |
|
|
|
|
Factory : |
SP 2-12 to SP2-15 and SP 2-24 to SP2-27 RIICO New Industrial Complex,
Neemrana – 301705, District Alwar, Rajasthan, India |
|
Tel No.: |
91-1494-229100 |
|
Fax No.: |
91-1494-229-151 |
|
|
|
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Branch Office : |
Also Located at:
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Kanwal Jeet Jawa |
|
Designation : |
Managing Director |
|
Address : |
C-204, Greater Kailash Part 1, |
|
Date of Birth/Age : |
10.11.1959 |
|
Date of Appointment : |
10.09.2010 |
|
PAN No.: |
AAGPJ1732N |
|
DIN No.: |
00057351 |
|
|
|
|
Name : |
Mr. Sanjay Goyal |
|
Designation : |
Director |
|
Address : |
House No. – 1474, Sector – 16, Faridabad, Haryana – 121002, India. |
|
Date of Birth/Age : |
28.11.1965 |
|
Date of Appointment : |
26.09.2011 |
|
DIN No.: |
06972383 |
|
|
|
|
Name : |
Mr. Toshio Akio Nakano |
|
Designation : |
Director |
|
Address : |
12th Floor, Building No. 9, Tower 'A', DLF Cyber City, DLF Phase – III, Gurugram -122002, India |
|
Date of Birth/Age : |
19.12.1944 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310877 |
|
|
|
|
Name : |
Mr. Kaoru Engauchi |
|
Designation : |
Director |
|
Address : |
14-4-311, Mitsuzawashimomachi, Kanagawa – Ku, Yokohama, Kanagawa,
Japan-2210852 |
|
Date of Birth/Age : |
27.07.1962 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
05238854 |
|
|
|
|
Name : |
Hiroaki Suenaga |
|
Designation : |
Director |
|
Address : |
Villa 08, Ashiana Green Hills, St1,Gh1, RIICO Industrial Area, Neemrana, Alwar - 301705, Rajasthan, India |
|
Date of Appointment : |
23.02.2015 |
|
DIN No.: |
07090546 |
|
|
|
|
Name : |
Toshiharu Tsurumaru |
|
Designation : |
Additional Director |
|
Address : |
H-34/5, Dlf Phase-I, Gurugram – 122002, Haryana, India |
|
Date of Appointment : |
01.10.2017 |
|
DIN No.: |
08022768 |
|
|
|
|
Name : |
Kuldeepak Virmani |
|
Designation : |
Additional Director |
|
Address : |
732, Neelkanth Apartments Sector-13, Rohini, Delhi – 110085, India |
|
Date of Appointment : |
01.10.2017 |
|
DIN No.: |
08023883 |
KEY EXECUTIVES
|
Name : |
Mr. Anurag Misra |
|
Designation : |
Company Secretary |
|
Address : |
Plot No. 19B, K-Block, Kachnar City, Near My Homes, Vijay Nagar, Jabalpur- 482001, Madhya Pradesh, India |
|
Date of Appointment : |
23.02.2017 |
|
PAN No.: |
ALRPM6381N |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
|
Daikin Industries Limited, Japan |
|
80292389 |
|
Daikin Airconditioning (Singapore) Pte Limited, Singapore |
|
1 |
|
Total |
|
80292390 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing, trading and selling of air conditioning equipment and chillers. (Registered Activity) |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2251 (Approximately) |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF Phase II, Gurugram- 122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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Holding Company: |
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Fellow Subsidiary: |
|
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
INR 100/- each |
INR 10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80292390 |
Equity Shares |
INR 100/- each |
INR 8029.239 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
8029.239 |
8029.239 |
8029.239 |
|
(b) Reserves &
Surplus |
1682.783 |
708.577 |
168.365 |
|
(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) |
9712.022 |
8737.816 |
8197.604 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3.442 |
0.000 |
0.680 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
64.061 |
63.031 |
91.457 |
|
(d) long-term provisions |
288.138 |
221.397 |
66.015 |
|
Total Non-current
Liabilities (3) |
355.641 |
284.428 |
158.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
4776.254 |
3832.045 |
3150.436 |
|
(c) Other current
liabilities |
2247.815 |
1489.080 |
868.186 |
|
(d) Short-term provisions |
284.883 |
259.426 |
346.223 |
|
Total Current Liabilities
(4) |
7308.952 |
5580.551 |
4364.845 |
|
|
|
|
|
|
TOTAL |
17376.615 |
14602.795 |
12720.601 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2058.360 |
1844.404 |
2289.502 |
|
(ii) Intangible Assets |
94.114 |
11.183 |
14.170 |
|
(iii) Capital
work-in-progress |
316.775 |
177.480 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
11.760 |
0.000 |
|
(b) Non-current
Investments |
57.024 |
40.364 |
0.000 |
|
(c) Deferred tax assets
(net) |
246.342 |
291.920 |
85.208 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
503.074 |
|
(e) Other Non-current
assets |
373.134 |
461.052 |
3.903 |
|
Total Non-Current Assets |
3145.749 |
2838.163 |
2895.857 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7553.788 |
5624.236 |
5556.320 |
|
(c) Trade receivables |
1615.220 |
1696.677 |
1167.943 |
|
(d) Cash and cash
equivalents |
4506.885 |
3930.369 |
2686.100 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
408.005 |
|
(f) Other current assets |
554.973 |
513.350 |
6.376 |
|
Total Current Assets |
14230.866 |
11764.632 |
9824.744 |
|
|
|
|
|
|
TOTAL |
17376.615 |
14602.795 |
12720.601 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
28404.033 |
23689.623 |
19845.996 |
|
|
Other Income |
486.775 |
390.485 |
282.579 |
|
|
TOTAL |
28890.808 |
24080.108 |
20128.575 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
13968.100 |
10300.399 |
7900.911 |
|
|
Purchases of
Stock-in-Trade |
5234.280 |
5431.312 |
4567.527 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1584.036) |
(370.688) |
1319.317 |
|
|
Employees benefits
expense |
1780.364 |
1454.582 |
1201.028 |
|
|
Other expenses |
7171.654 |
5797.162 |
4056.256 |
|
|
TOTAL |
26570.362 |
22612.767 |
19045.039 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2320.446 |
1467.341 |
1083.536 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
373.581 |
222.108 |
116.502 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1946.865 |
1245.233 |
967.034 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
590.308 |
579.957 |
530.130 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1356.557 |
665.276 |
436.904 |
|
|
|
|
|
|
|
Less |
TAX |
378.308 |
117.170 |
(85.208) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
978.249 |
548.106 |
522.112 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.18 |
6.81 |
6.5 |
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 |
|
Cash generated from operations |
1614.362 |
1902.494 |
3613.563 |
|
Net cash flows from (used in) operations |
1339.482 |
1668.577 |
3466.226 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
20.76 |
26.14 |
21.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
17.59 |
13.96 |
16.99 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
90.79 |
88.91 |
92.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.31 |
0.26 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.94 |
0.72 |
0.47 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.42 |
0.38 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.75 |
0.64 |
0.53 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.25 |
0.23 |
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.21 |
6.61 |
9.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.44 |
2.31 |
2.63 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.63 |
3.75 |
4.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.07 |
6.27 |
6.37 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.95 |
2.11 |
2.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.91 |
1.10 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.56 |
0.60 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.95 |
2.11 |
2.25 |
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 |
|
Share Capital |
8029.239 |
8029.239 |
8029.239 |
|
Reserves & Surplus |
168.365 |
708.577 |
1682.783 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
8197.604 |
8737.816 |
9712.022 |
|
|
|
|
|
|
long-term borrowings |
0.680 |
0.000 |
3.442 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.680 |
0.000 |
3.442 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
19845.996 |
23689.623 |
28404.033 |
|
|
|
19.367 |
19.901 |
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 |
19845.996 |
23689.623 |
28404.033 |
|
Profit/(Loss) |
522.112 |
548.106 |
978.249 |
|
|
2.63% |
2.31% |
3.44% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
Yes |
|
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 |
General information
The company is a private limited company incorporated in India. The Company is a subsidiary of Daikin Industries Limited Japan. 80,292,389 shares are held by Daikin Industries Limited, Japan and the balance 1 share being held by Daikin Airconditioning (Singapore) Pte. Limited. The operations of the Company mainly comprise manufacturing and trading of air conditioning equipments and chillers.
Financial Overview
The company effectively utilised the excess funds by creating Fixed Deposits with Banks at regular intervals in FY 16-17. The total amount of interest earned during FY 16-17 is INR 283.000 Millions the Directors would like to put on record their appreciation to all employees who have made it possible to achieve 20% growth in revenue after making necessary adjustments as per Ind AS and controlling account receivable to 21 days of sales.
INDEX OF CHARGE: No Charges Exists for Company
FIXED ASSETS:
- Lease Building
- Plant and equipment
- Computers
- Office equipment
- Furniture and fixtures
- Motor vehicles
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 65.34 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NKTS |
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.