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|
MIRA INFORM REPORT
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Report No. : |
503961 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
EKIN INDIA PRIVATE LIMITED [w.e.f. 30.01.2014] |
|
|
|
|
Formerly known
as : |
EKIN SALUJA INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot No. 172, Sector-4, IMT Manesar, Gurgaon - 122050, Haryana |
|
Mob. No.: |
91-8130794696 [Umesh] |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
12.03.2012 |
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|
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Com. Reg. No.: |
05-045369 |
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Capital
Investment / Paid-up Capital : |
INR 288.204 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220HR2012PTC045369 |
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|
|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
06421939433 |
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GSTN : [Goods & Service Tax
Registration No.] |
06AACCE9856D1ZK |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AACCE9856D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Manufacturing and Sales of Broach and Allied Components and Providing various types of Job Work related to Broach. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
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 620000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Ekin S Coop, Spain” incorporated in the year 2012 having satisfactory track record. It is engaged in the business of manufacturing, importing, exporting, selling, buying, and dealing in all kinds of forgings including upset forging, cold and warm forging, hand tool forging, cross roll forging, ring rolling reducer and stamping. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along with improved profitability margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate capital base and strong debt protection metrics. Rating continue to derive strength from its established track record of its business operation backed by its well-experienced management team along with strong financial support receives by its parent. However, these rating strengths gets partially offset due to previous years accumulated losses which has resulted into negative reserve level. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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.
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
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
31-03-2016.
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 16.04.2018.
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 DECLINED BY
|
Name : |
Mr. Umesh Chand |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-8130794696 |
|
Date : |
13.04.2018 |
LOCATIONS
|
Registered Office : |
Plot No. 172, Sector -4, IMT Manesar, Gurgaon - 122050, Haryana, India |
|
Tel. No.: |
91-124-3293555/ 56 |
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Mobile No.: |
91-8130794696 [Mr. Umesh Chand] |
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Fax No.: |
91-124-4367034 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Fernando Lozano Hernandez |
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Designation : |
Director |
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Apartment No. 106, Block-18 First Floor, Heritage City, Mehrauli Gurugram Road, Gurugram - 122022, Haryana, India |
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Date of Birth/Age : |
03.03.1961 |
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Qualification : |
Graduation |
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Date of Appointment : |
28.02.2017 |
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DAN No.: |
06854182 |
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|
|
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Name : |
Mr. Francisco Javier Omaechechevarria Elorriaga |
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Designation : |
Director |
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C. Don Tello 7 Po1 II, Gernika Lumo (Anadir Codigo Postal) Spain 48300 ES |
|
Date of Appointment : |
14.07.2017 |
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DAN No.: |
07877493 |
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|
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Name : |
Mr. Eneko Gorostidi Aizpurua |
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Designation : |
Director |
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Par Larrabea 6 (Anadir Codigo Postal) Legutio Spain Spain 000000 ES |
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Date of Appointment : |
14.07.2017 |
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DAN No.: |
07877495 |
|
|
|
|
Name : |
Mr. Carmelo Hierro Benavides |
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Designation : |
Director |
|
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C. Doctor Norberto Acebal 1 P05 CN Barakaldo Bizkaia 48131 ES |
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Date of Appointment : |
26.12.2017 |
|
DAN No.: |
08032998 |
KEY EXECUTIVES
|
Name : |
Mr. Umesh Chand |
|
Designation : |
Chief Finance Officer |
|
Address : |
4737 A, Ram Nagar, Koslkalan (Rural) Kosi Kalan, Chhata, Mathura - 281403, Uttar Pradesh, India |
|
Date of Appointment : |
08.11.2016 |
|
PAN No.: |
AHNPC4735A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ekin S Coop, Spain |
|
21760655 |
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Ein Lemoa S.A.U. (Earlier known as Termebek S.L), Spain |
|
10 |
|
Ampo S Coop, Spain |
|
7059746 |
|
|
|
|
|
Total |
|
28820411 |
AS ON: 17.07.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing and Sales of Broach and Allied Components and Providing various types of Job Work related to Broach. [Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
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Auditors : |
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|
Name : |
Udyen Jain and Associates Chartered Accountants |
|
Address : |
201, Tower S4, PhaseiI, Cybercity, Office Magarpatta Township, Hadapsar, Pune - 411013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFU2367E |
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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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|
|
|
Holding company: |
Ekin S. Coop (Co-operative Society) |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.00 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28820411 |
Equity Shares |
INR 10/- each |
INR 288.204 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 |
288.204 |
288.204 |
218.323 |
|
(b) Reserves and Surplus |
(70.976) |
(111.903) |
(82.971) |
|
(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) |
217.228 |
176.301 |
135.352 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
11.916 |
6.974 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.728 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.728 |
11.916 |
6.974 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
78.269 |
68.453 |
33.100 |
|
(c) Other
current liabilities |
6.292 |
11.620 |
1.772 |
|
(d) Short-term
provisions |
0.854 |
0.757 |
0.319 |
|
Total Current
Liabilities (4) |
85.415 |
80.830 |
35.191 |
|
|
|
|
|
|
TOTAL |
303.371 |
269.047 |
177.517 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
166.792 |
160.754 |
92.294 |
|
(ii)
Intangible Assets |
22.765 |
23.589 |
26.748 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
25.566 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
3.095 |
3.347 |
1.087 |
|
Total Non-Current
Assets |
218.218 |
187.690 |
120.129 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
40.336 |
29.362 |
13.181 |
|
(c) Trade
receivables |
12.631 |
25.301 |
11.943 |
|
(d) Cash and
bank balances |
5.930 |
4.968 |
14.426 |
|
(e)
Short-term loans and advances |
0.930 |
0.997 |
8.099 |
|
(f) Other
current assets |
25.326 |
20.729 |
9.739 |
|
Total
Current Assets |
85.153 |
81.357 |
57.388 |
|
|
|
|
|
|
TOTAL |
303.371 |
269.047 |
177.517 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
127.701 |
78.931 |
44.153 |
|
|
Other Income |
8.332 |
3.074 |
10.722 |
|
|
TOTAL |
136.033 |
82.005 |
54.875 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
45.047 |
35.424 |
24.946 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.302) |
(10.158) |
(4.349) |
|
|
Employee benefit expense |
35.193 |
31.553 |
23.001 |
|
|
Other expenses |
37.390 |
36.299 |
24.975 |
|
|
TOTAL |
113.328 |
93.118 |
68.573 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
22.705 |
(11.113) |
(13.698) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
22.705 |
(11.113) |
(13.698) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.261 |
12.876 |
9.407 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3.444 |
(23.989) |
(23.105) |
|
|
|
|
|
|
|
Less |
TAX |
(37.482) |
4.942 |
2.389 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
40.926 |
(28.931) |
(25.494) |
|
|
|
|
|
|
|
|
F.O.B. Value of Exports |
75.187 |
43.605 |
13.831 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
4.458 |
13.404 |
14.213 |
|
|
Capital Goods |
7.199 |
39.425 |
0.643 |
|
|
TOTAL IMPORTS |
11.657 |
52.829 |
14.856 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.52 |
(1.07) |
(1.43) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
25.128 |
1.607 |
(26.961) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
25.128 |
1.401 |
(26.961) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
36.10 |
117.00 |
98.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
10.11 |
3.12 |
3.70 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
634.19 |
705.32 |
484.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.56 |
(0.38) |
(1.04) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.12 |
(0.06) |
(0.12) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.28 |
0.30 |
0.20 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.39 |
0.46 |
0.26 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.87 |
1.05 |
0.88 |
|
|
|
|
|
|
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) |
% |
32.05 |
(36.65) |
(57.74) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
13.49 |
(10.75) |
(14.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.84 |
(16.41) |
(18.84) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.00 |
1.01 |
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.52 |
0.64 |
1.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.72 |
0.66 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.00 |
1.01 |
1.63 |
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 |
218.323 |
288.204 |
288.204 |
|
Reserves & Surplus |
(82.971) |
(111.903) |
(70.976) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
135.352 |
176.301 |
217.228 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
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 |
44.153 |
78.931 |
127.701 |
|
|
|
78.767 |
61.788 |
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 |
44.153 |
78.931 |
127.701 |
|
Profit/ (Loss) |
(25.494) |
(28.931) |
40.926 |
|
|
(57.74
%) |
(36.65
%) |
32.05
% |
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 |
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 |
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
CORPORATE INFORMATION
The company was incorporated on March 12, 2012. The Company is engaged in the business of Manufacturing and sales of Broach and allied components manufactured by it in India and outside India. Company is also engaged in providing various types of job work related to Broach.
FUTURE PROSPECTS INCLUDING CONSTRAINTS
AFFECTING DUE TO GOVERNMENT POLICIES:
Since
the company is engaged in the business of Manufacturing and sales of Broach and
allied components manufactured by it in India and outside India, the government
policies and the economy conditions are favourable.
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS:
The Directors wish to present the details of Business operations done during the year:
a. Production and Profitability
The profits of the Company for the year ended 31st March, 2017 was INR 40.926 million out of this profit INR 39.801 million was the provision for Deferred Tax Assets created on Accumulated Losses and Unabsorbed Depreciation.
b. Sales
The sales of the Company for the year ended 31st March, 2017 was INR 127.701 million
b. Marketing and Market environment:
The market for the operations of the Company is stable and expanding.
d. Future Prospects including constraints
affecting due to Government policies:
Since the company is engaged in the business of Manufacturing and sales of Broach and allied components manufactured by it in India and outside India, the government policies and the economy conditions are favourable.
FIXED ASSETS:
·
Plant and equipment
·
Factory equipment’s
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipment’s
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 65.22 |
|
UK Pound |
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
ARC |
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.