|
|
|
MIRA INFORM REPORT
|
Report No. : |
503580 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOMTOM INDIA PRIVATE LIMITED (w.e.f. 23.01.2012) |
|
|
|
|
Formerly Known
As : |
TOMTOM INDIA LIMITED (w.e.f. 28.01.2011) TELE ATLAS KALAYNI INDIA LIMITED (w.e.f. 17.04.2009) KALYANI NET VENTURES LIMITED KALYANI NET VENTURES PRIVATE LIMITED |
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Registered
Office : |
7th Floor, Binarius, Deepak Complex, National Games Road, Shastri
Nagar, Yerwada, Pune - 411006, Maharashtra |
|
Tel. No.: |
91-20-41002000 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
15.02.2000 |
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|
|
|
Com. Reg. No.: |
11-014486 |
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|
|
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Capital Investment
/ Paid-up Capital : |
INR 49.622 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN2000PTC014486 |
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|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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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.] |
AABCK3025B |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of trading in Portable Navigation Devices / sport watches, car chargers and is a leading map provider in India serving the consumer applications, business-to-business and business-to-government market segments. The Company also provides data processing services, software engineering, IT support, customer support services and other business support services to its Group companies. (Registered Activity) |
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|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is wholly owned subsidiary of “TomTom Asia Pacific Pte Limited,
Singapore”. The company was incorporated in the year 2000. It is engaged providing Data Processing, Software engineering
and IT support services. For the financial year 2017, the company has achieved 26.13% growth in
its revenue as compared to previous year revenue along with average profit
margin of 5.59%. The sound financial position of the company is marked by adequate
networth base with strong debt coverage indicators due to debt free balance
sheet profile. The rating takes into consideration strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for normal business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 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 : |
Not Divulged |
|
Designation : |
Office Executive |
|
Contact No.: |
91-20-41002000 |
|
Date : |
12.04.2018 |
LOCATIONS
|
Registered Office : |
7th Floor, Binarius, Deepak Complex, National Games Road,
Shastri Nagar, Yerwada, Pune - 411006, Maharashtra, India |
|
Tel. No.: |
91-20-41002000 |
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Fax No.: |
91-20-71045001 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arnold Jozef Desmet |
|
Designation : |
Director |
|
Address : |
Treetops Apartments, 7 Orange Grove Road, Singapore 258355 |
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Date of Birth/Age : |
04.12.1964 |
|
Date of Appointment : |
22.04.2008 |
|
DIN No.: |
02154263 |
|
|
|
|
Name : |
Mr. Sanjay Omprakash Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No.1204, Vanaraji Heights, Rambaug Colony, Kothrud, Pune-411038,
Maharashtra, India |
|
Date of Birth/Age : |
30.03.1978 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
03635842 |
|
|
|
|
Name : |
Guido Pieter Nico Marie Oudejans |
|
Designation : |
Director |
|
Address : |
Dreef 12 Medemblik 1657KB NL |
|
Date of Appointment : |
04.10.2013 |
|
DIN No.: |
06697074 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
TomTom Asia Pacific Pte. Limited, Singapore |
|
49622038 |
|
TomTom Global Content B.V., Netherlands |
|
5 |
|
Total |
|
49622043 |
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 trading in Portable Navigation Devices / sport watches, car chargers and is a leading map provider in India serving the consumer applications, business-to-business and business-to-government market segments. The Company also provides data processing services, software engineering, IT support, customer support services and other business support services to its Group companies. (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 : |
Information declined by the management |
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Bankers : |
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Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada, Near Don Bosco
School, Pune- 411006, Maharashtra, India |
|
Tel. No.: |
91-20-66036000 |
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Fax No.: |
91-20-66015900 |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9117R |
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|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
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Holding Company : |
TomTom Asia Pacific Pte. Limited, Singapore |
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|
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|
Ultimate holding
company : |
TomTom N.V., Netherlands |
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|
Fellow subsidiaries
: |
|
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61000000 |
Equity Shares |
INR 1/- each |
INR 61.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49622043 |
Equity Shares |
INR 1/- each |
INR 49.622
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 |
49.622 |
49.622 |
49.622 |
|
(b) Reserves & Surplus |
689.756 |
627.452 |
548.927 |
|
(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) |
739.378 |
677.074 |
598.549 |
|
|
|
|
|
|
(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 |
0.987 |
1.357 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.987 |
1.357 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
66.151 |
39.279 |
36.821 |
|
(c) Other current
liabilities |
12.329 |
18.645 |
6.077 |
|
(d) Short-term
provisions |
33.060 |
20.790 |
20.814 |
|
Total Current
Liabilities (4) |
111.540 |
78.714 |
63.712 |
|
|
|
|
|
|
TOTAL |
851.905 |
757.145 |
662.261 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
137.543 |
178.824 |
159.070 |
|
(ii)
Intangible Assets |
45.772 |
60.845 |
76.123 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
13.260 |
|
(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 Loan and Advances |
63.759 |
49.342 |
78.097 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
247.074 |
289.011 |
326.550 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
21.487 |
23.903 |
42.152 |
|
(c) Trade
receivables |
282.430 |
112.532 |
78.013 |
|
(d) Cash
and cash equivalents |
261.323 |
278.571 |
197.249 |
|
(e)
Short-term loans and advances |
24.996 |
17.692 |
9.173 |
|
(f) Other
current assets |
14.595 |
35.436 |
9.124 |
|
Total
Current Assets |
604.831 |
468.134 |
335.711 |
|
|
|
|
|
|
TOTAL |
851.905 |
757.145 |
662.261 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1115.207 |
884.180 |
674.572 |
|
|
Other Income |
0.355 |
20.606 |
0.521 |
|
|
TOTAL |
1115.562 |
904.786 |
675.093 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
87.466 |
22.695 |
31.102 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.416 |
18.249 |
(24.822) |
|
|
Employees benefits
expense |
549.082 |
460.738 |
398.926 |
|
|
CSR Expenditure |
0.324 |
0.000 |
0.000 |
|
|
Other expenses |
333.085 |
244.726 |
267.399 |
|
|
TOTAL |
972.373 |
746.408 |
672.605 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
143.189 |
158.378 |
2.488 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
143.189 |
158.378 |
2.488 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
80.884 |
79.853 |
71.165 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
62.305 |
78.525 |
(68.677) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
62.305 |
78.525 |
(68.677) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sale of services |
942.549 |
804.594 |
0.000 |
|
|
Discount received |
0.000 |
20.146 |
0.000 |
|
|
License fees |
41.861 |
0.000 |
0.000 |
|
|
Sale of maps |
0.000 |
0.310 |
0.000 |
|
|
Data Production,
Engineering and IT Services |
0.000 |
0.000 |
614.638 |
|
|
Recovery on account of
transfer pricing adjustment |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
984.410 |
825.050 |
614.638 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded Goods |
63.927 |
13.372 |
22.222 |
|
|
TOTAL IMPORTS |
63.927 |
13.372 |
22.222 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.26 |
1.58 |
(1.56) |
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 |
NA |
NA |
18.690 |
|
Net cash flows from (used in) operations |
4.858 |
137.639 |
NA |
|
Net cash flow from operating activity |
4.862 |
137.342 |
18.690 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
92.44 |
46.45 |
42.21 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
3.95 |
7.86 |
8.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
276.05 |
631.72 |
432.12 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
6.66 |
6.63 |
0.06 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.78 |
0.66 |
0.01 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.13 |
0.10 |
0.10 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.15 |
0.12 |
0.11 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.25 |
0.35 |
0.42 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
5.59 |
8.88 |
(10.18) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.31 |
10.37 |
(10.37) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.43 |
11.60 |
(11.47) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
5.42 |
5.95 |
5.27 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
5.23 |
5.64 |
4.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.87 |
0.89 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
5.42 |
5.95 |
5.27 |
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 |
49.622 |
49.622 |
49.622 |
|
Reserves & Surplus |
548.927 |
627.452 |
689.756 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
598.549 |
677.074 |
739.378 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
674.572 |
884.180 |
1115.207 |
|
|
|
31.073 |
26.129 |
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 |
674.572 |
884.180 |
1115.207 |
|
Profit/(Loss) |
(68.677) |
78.525 |
62.305 |
|
|
(10.18%) |
8.88% |
5.59% |
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 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company, incorporated on February 15, 2000, is a private limited company domiciled in India. The Company is engaged in the business of trading in Portable Navigation Devices / sport watches, car chargers and is a leading map provider in India serving the consumer applications, business-to-business and business-to-government market segments. The Company also provides data processing services, software engineering, IT support, customer support services and other business support services to its Group companies. The Corporate Identification Number (CIN) of the Company is U72200PN2000PTC14486.
STATE OF COMPANY’S
AFFAIRS
The Company is engaged in the business of trading of Portable Navigation Devices/ sport watches, car chargers and is a leading map provider in India serving the consumer applications, business-to-business and business-to government market segments. The Company is also engaged in provision of data processing services, software engineering, group IT support, customer support services and other business support services to its Group companies.
The Directors are continuously looking for avenues for
future growth and are hopeful that the Company will perform better in the
coming years.
INDEX
OF CHARGES
|
Charges Registered |
|||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Satisfaction |
Amount |
Address |
|
1 |
B56098734 |
90093278 |
THE COSMOS CO-OPERATIVE BANK LTD |
02/08/2005 |
07/08/2012 |
1000000.0 |
CAMP BRANCH PUNE MAHARASHTRA 411001 INDIA |
|
2 |
B56856495 |
90088990 |
THE COSMOS CO-OPERATIVE BANK LTD |
06/05/2005 |
07/08/2012 |
1000000.0 |
CAMP BRANCH PUNE MAHARASHTRA 411001 INDIA |
|
3 |
A72008378 |
10018047 |
HDFC BANK LIMITED |
25/07/2006 |
09/10/2009 |
15000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
|
4 |
A04277281 |
90087235 |
THE COSMOS CO-OPERATIVE BANK LTD |
30/03/2005 |
28/08/2006 |
3500000.0 |
269/270 SHANIWAR PETH PUNE MAHARASHTRA 411030 INDIA |
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Leasehold improvements
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 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 : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUD |
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.