|
|
|
MIRA INFORM REPORT
|
Report No. : |
503794 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GE INDIA INDUSTRIAL PRIVATE LIMITED |
|
|
|
|
Formerly known
as: |
APAR LAMPS PRIVATE LIMITED |
|
|
|
|
Registered
Office: |
A-18, 1st Floor, Okhla Industrial Area, Phase - II, New
Delhi - 110020, India |
|
Mob. No.: |
91-9945344493 (Mr. Sunil) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.05.1992 |
|
|
|
|
Com. Reg. No.: |
55-194724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 23141.792 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31500DL1992PTC194724 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0393001962 |
|
|
|
|
TIN No.: |
07810164199 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACG4901D1Z6 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG4901D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the following business · Export of computer software. · Sales and service of vibration monitoring systems and related parts. · Sale of industrial UPS and providing annual maintenance support services, sale, installation and commissioning of dissolved gas analysis kits and training of technicians and designing, engineering, supply, testing, installation and commissioning, technical services, hardware and software support (AMCs/ LTSA) for power transmission and distribution and sale and purchase of industrial filtration products. · Providing network infrastructure services. · Providing strategic management, finance, human resources, sales and marketing, communication, legal and compliance, supply chain management, employee health and safety, government relations services, Marketing support, infrastructure support and training services to General Electric group companies. · Provide shared manufacturing support to certain GE businesses within and outside India. · Trading of industrial lighting fixtures, High Intensity Discharge lamps and other lighting products. · Sales and service of specialised equipment and spares used in those specialised equipments used for extraction and transmission of oil and gas. · Manufacture, erection and commissioning services for electrical installations and manufacturing and trading of electrical components. · Dealing in pressure instrument and sales and service of non-destructive testing equipment and the related films. · Transportation Manufacturing and trading of critical locomotive spares. · Manufacture, sale and trade of specialty chemicals and membranes. · Manufacturing and trading of wind turbine generators and providing related after sales services. · Marketing support to General Electric group companies. · Financial planning and analysis services to GE healthcare group companies. (Registered Activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
Maximum Credit Limit : |
USD 57800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is
a subsidiary of “GE Pacific Pte Ltd” based in Singapore but its ultimate
holding company is “General Electric Company” based in United States. It was
incorporated in the year 1992. As per
financials of March 2017, the company has registered a healthy growth in its
revenue and has reported good profit margin. Rating
takes into consideration the company’s established track record of business
operations marked by healthy capital base along with low solvency indicators
and good liquidity position. Rating also
takes into account the strong financial and managerial support received from
its holding entity and well experienced management team. Further,
General Electric Company has been ranked 13th in Global Fortune 500 company
list. However,
the rating strength is partially offset by negative reserves of the company. Payments
are reported to be regular. In view of strong parent support, the company can be considered for 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.
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. Sunil Saraswat |
|
Designation: |
Project Manager |
|
Contact No.: |
91-9945344493 |
|
Date : |
13.04.2018 |
[91-124-4906000] is
continuously ringing
LOCATIONS
|
Registered Office : |
A-18, 1st Floor, Okhla Industrial Area, Phase - II, New
Delhi - 110020, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9945344493 (Mr. Sunil Saraswat) 91-9986855924 (Mr. Shahsank) |
|
Fax No.: |
91-11-39827841 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
1st Floor, Building No. 7A, DLF Cyber City, Phase-II,
Gurgaon - 122002, Haryana, India |
|
|
|
|
Head Office / Factory: |
Plot No.42/1 and 45/14, Electronic City - Phase II, Bangalore –
560100, Karnataka, India |
|
Tel. No.: |
91-80-41114000 Works-91-80-41113000 |
|
Fax No.: |
91-80-285288469/ 55/ 41434199 |
|
|
|
|
Sales Network : |
Also Located at: ·
Chandigarh ·
Bangalore ·
Chennai ·
Coimbatore ·
Cochin ·
Mumbai ·
Gurgaon ·
Hyderabad ·
Pune ·
Kolkata |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Tejal Patil |
|
Designation : |
Wholetime Director |
|
Address : |
C-103, South Extension Part II, New Delhi - 110049, India |
|
Date of Birth/Age : |
04.04.1969 |
|
Date of Appointment : |
10.09.2014 |
|
DIN No.: |
06840408 |
|
|
|
|
Name : |
Mr. Sameer Maheshwary |
|
Designation : |
Wholetime Director |
|
Address : |
World Spa, B3/802, Sector 30&41, Gurgaon - 122001, Haryana, India |
|
Date of Birth/Age : |
01.02.1971 |
|
Date of Appointment : |
16.09.2016 |
|
DIN No.: |
03576555 |
|
|
|
|
Name : |
Mr. Gopal Venkata Ramanan |
|
Designation : |
Whole-time Director |
|
Address : |
F. No. 5044, Sobha Cinnamon and Saffron Apartment, Soffharalur Road, Near Birla Cement, Mix plant Kudlu Bo Mmanahalli Anekal Bangalore – 560068, Karnataka, India |
|
Date of Birth/Age : |
04.10.1969 |
|
Qualification : |
CA and CWA |
|
Date of Appointment : |
10.09.2014 |
|
PAN No.: |
ADEPG2060P |
|
DIN No.: |
01446016 |
|
|
|
|
Name : |
Mr. Mahesh Shrikrishna Palashikar |
|
Designation : |
Whole-time Director |
|
Address : |
Westend Heights, C 034, DLF City, Phase V, Gurugram – 122002, Haryana, India |
|
Date of Birth/Age : |
23.11.1967 |
|
Qualification : |
B.E, CWA and MBA |
|
Date of Appointment : |
10.09.2014 |
|
PAN No.: |
ABMPP4555A |
|
DIN No.: |
02275903 |
|
|
|
|
Name : |
Mr. Amit Kumar |
|
Designation : |
Wholetime Director |
|
Address : |
Flat Q 702, Symphony Purva Fountain, Sq Near Marathahalli, Bangalore -560037, Karnataka, India |
|
Date of Birth/Age : |
17.19.1970 |
|
Qualification : |
B.E (Mech. Engineering) |
|
Date of Appointment : |
10.09.2014 |
|
PAN No.: |
ACAPK7188B |
|
DIN No.: |
02916686 |
|
|
|
|
Name : |
Mr. Rajnish Krishnaratan Damani |
|
Designation : |
Wholetime Director |
|
Address : |
Nandan Prospera, Building A3, Floor No 1602, 16th Floor Office Baner Road, Banerpune, Pune Rest of M Aharashtra, Pune – 411045, Maharashtra, India |
|
Date of Appointment : |
24.02.2016 |
|
DIN No.: |
03155312 |
|
|
|
|
Name : |
Mrs. Tejal Patil |
|
Designation : |
Whole-time Director |
|
Address : |
C-103, South Extension Part II, New Delhi – 110049, India |
|
Date of Birth/Age : |
04.04.1969 |
|
Qualification : |
LLB |
|
Date of Appointment : |
10.09.2014 |
|
PAN No.: |
BAKPS3744Q |
|
DIN No.: |
06840408 |
|
|
|
|
Name : |
Mr. Manish Raghunath Kolhe |
|
Designation : |
Director |
|
Address : |
A101, Hemanth Orange Apartment, 6th Cross, Kagadaspura Main Road, Vignan Nagar, Bangalore – 560075, Karnataka, India |
|
Date of Birth/Age : |
19.04.1971 |
|
Qualification : |
B.E (Mech. Engineering) |
|
Date of Appointment : |
06.11.2014 |
|
PAN No.: |
ABZPK5814E |
|
DIN No.: |
07010655 |
|
|
|
|
Name : |
Mr. Godabanal Parameswarappa Ravindra Kumar |
|
Designation : |
Whole-time Director |
|
Address : |
801A, 1st Floor, The Laburnum Condominium Complex, Sushant Lok 1, Gurugram – 122009, Haryana, India |
|
Date of Appointment : |
29.04.2015 |
|
DIN No.: |
07108426 |
|
|
|
|
Name : |
Mr. Munesh Makhija |
|
Designation : |
Director |
|
Address: |
No.415 Palm Meadows-11 B Narayanapura Village K R Puram Hobli Ramagondahalli Post Bangalore - 560066, Karnataka, India |
|
Date of Appointment : |
10.08.2017 |
|
DIN No.: |
03409115 |
|
|
|
|
Name : |
Mr. Kranthi Kumar Tata |
|
Designation : |
Director |
|
Address: |
Wind Mills of Your Mind, C2-7144, Epip Zone, Whitefield Area, Bangalore - 560066, Karnataka, India |
|
Date of Appointment : |
10.08.2017 |
|
DIN No.: |
07839253 |
|
|
|
|
Name : |
Mr. Balaji Parathasarathy |
|
Designation : |
Whole-time Director |
|
Address: |
Flat No. 305 , My Home Abhra, Opposite Inorbit Mall, Madhapur Hyderabad 500081, Telangana, India |
|
Date of Appointment : |
10.08.2017 |
|
DIN No.: |
0785530 |
|
|
|
|
Name : |
Mr. Aman Wadhwa |
|
Designation : |
Whole-time Director |
|
Address: |
L 51 B, Malviya Nagar, New Delhi - 110017, India |
|
Date of Appointment : |
10.08.2017 |
|
DIN NO.: |
07862041 |
KEY EXECUTIVES
|
NAME : |
Mr.Ira Shukla |
|
Designation : |
Company Secretary |
|
Address: |
Flat No. 1406, Block G, Brigade Metropolis Garudacharpalya, Mahadevpura, Whitefield , Bangalore 560048, Karnataka, India |
|
Date of Appointment : |
09.02.2017 |
|
PAN No.: |
BGEPS1206F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Equity Shareholders |
No. of Shares |
Percentage of Holding |
|
GE International Holding BV, Netherlands |
73992954061 |
31.97 |
|
GE Pacific Private Limited, Singapore |
157424962566 |
68.03 |
|
|
|
|
|
Total |
231417916627 |
100.00 |
The Ultimate Holding Company is General Electric Company
AS ON 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the following business · Export of computer software. · Sales and service of vibration monitoring systems and related parts. · Sale of industrial UPS and providing annual maintenance support services, sale, installation and commissioning of dissolved gas analysis kits and training of technicians and designing, engineering, supply, testing, installation and commissioning, technical services, hardware and software support (AMCs/ LTSA) for power transmission and distribution and sale and purchase of industrial filtration products. · Providing network infrastructure services. · Providing strategic management, finance, human resources, sales and marketing, communication, legal and compliance, supply chain management, employee health and safety, government relations services, Marketing support, infrastructure support and training services to General Electric group companies. · Provide shared manufacturing support to certain GE businesses within and outside India. · Trading of industrial lighting fixtures, High Intensity Discharge lamps and other lighting products. · Sales and service of specialised equipment and spares used in those specialised equipments used for extraction and transmission of oil and gas. · Manufacture, erection and commissioning services for electrical installations and manufacturing and trading of electrical components. · Dealing in pressure instrument and sales and service of non-destructive testing equipment and the related films. · Transportation Manufacturing and trading of critical locomotive spares. · Manufacture, sale and trade of specialty chemicals and membranes. · Manufacturing and trading of wind turbine generators and providing related after sales services. · Marketing support to General Electric group companies. · Financial planning and analysis services to GE healthcare group companies. (Registered Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Maruthi Info-Tech
Centre, 11-12/1, Inner Ring ROad, Koramangala, Bangalore-560071, Karnataka,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related
Parties: |
NOTE:
Related party details file attached |
CAPITAL STRUCTURE
AFTER 28.09.2017
Authorised Capital : INR 31672.000 Million
Issued, Subscribed & Paid-up Capital : INR 25472.771
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
308779590 |
Equity Shares |
INR 0.10/- each |
INR 30877.959 Million |
|
79404010 |
Preference Shares (Cumulative Redeemable) |
INR 10/- each |
INR 794.040 Million |
|
10 |
Preference Shares (Non- Cumulative Redeemable) |
INR 100/- each |
INR 0.001 Million |
|
|
|
|
|
|
|
Total |
|
INR 31672.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
231417916630 |
Equity Shares |
INR 0.10/- each |
INR
23141.792 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 |
23141.792 |
8985.756 |
8985.756 |
|
(b) Reserves and Surplus |
(2904.773) |
(5086.090) |
(5333.216) |
|
(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) |
20237.019 |
3899.666 |
3652.540 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
173.014 |
129.962 |
97.637 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
894.702 |
553.731 |
402.303 |
|
(d) long-term
provisions |
1219.817 |
785.296 |
660.040 |
|
Total Non-current
Liabilities (3) |
2287.533 |
1468.989 |
1159.980 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
9692.058 |
9690.815 |
9722.342 |
|
(b) Trade
payables |
12871.410 |
9117.014 |
6952.067 |
|
(c) Other
current liabilities |
11361.683 |
4025.748 |
4558.842 |
|
(d) Short-term
provisions |
3111.116 |
1042.587 |
929.950 |
|
Total Current
Liabilities (4) |
37036.267 |
23876.164 |
22163.201 |
|
|
|
|
|
|
TOTAL |
59560.819 |
29244.819 |
26975.721 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14884.651 |
7063.248 |
6399.603 |
|
(ii)
Intangible Assets |
357.972 |
137.023 |
201.320 |
|
(iii) Tangible assets
capital work-in-progress |
1255.641 |
408.838 |
493.359 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1081.400 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1940.680 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
3289.444 |
1952.527 |
1682.775 |
|
(e) Other
Non-current assets |
0.000 |
55.868 |
105.886 |
|
Total Non-Current
Assets |
22809.788 |
9617.504 |
8882.943 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
1510.431 |
|
(b)
Inventories |
10074.399 |
7598.796 |
4412.892 |
|
(c) Trade
receivables |
13397.743 |
8090.117 |
6526.231 |
|
(d) Cash and
bank balances |
5080.606 |
27.045 |
828.153 |
|
(e)
Short-term loans and advances |
3932.633 |
1740.583 |
2495.778 |
|
(f) Other
current assets |
4265.650 |
2170.774 |
2319.293 |
|
Total
Current Assets |
36751.031 |
19627.315 |
18092.778 |
|
|
|
|
|
|
TOTAL |
59560.819 |
29244.819 |
26975.721 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
58508.946 |
29837.252 |
25244.012 |
|
|
Other Income |
2205.601 |
1459.778 |
687.713 |
|
|
TOTAL |
60714.547 |
31297.030 |
25931.725 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
10762.071 |
9040.700 |
6691.649 |
|
|
Purchases of
Stock-in-Trade |
13465.252 |
10748.295 |
8046.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2589.500) |
(2674.299) |
(457.658) |
|
|
Employee benefit expense |
15665.721 |
4558.235 |
4103.284 |
|
|
Other expenses |
14890.667 |
7573.101 |
6826.687 |
|
|
TOTAL |
52194.211 |
29246.032 |
25210.762 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
8520.336 |
2050.998 |
720.963 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
963.102 |
818.301 |
834.519 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7557.234 |
1232.697 |
(113.556) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2679.419 |
985.571 |
639.109 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4877.815 |
247.126 |
(752.665) |
|
|
|
|
|
|
|
Less |
TAX |
(526.993) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
DISCOUNTING OPERATIONS |
-91.435 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
5496.243 |
247.126 |
(752.665) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
44254.469 |
6888.831 |
4446.548 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7453.437 |
6391.240 |
5145.102 |
|
|
Components and spare
parts |
224.546 |
34.720 |
110.742 |
|
|
Capital Goods |
1759.520 |
627.329 |
365.812 |
|
|
TOTAL IMPORTS |
9437.503 |
7053.289 |
5621.657 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.03 |
0.03 |
(0.01) |
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 |
17807.579 |
(1045.997) |
1382.534 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
17607.517 |
(1510.111) |
1043.175 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
83.58 |
98.97 |
94.36 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.37 |
3.69 |
3.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
193.92 |
168.16 |
172.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.85 |
0.27 |
0.16 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.52 |
0.27 |
0.10 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.62 |
0.82 |
0.83 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.49 |
2.52 |
2.69 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.83 |
6.12 |
6.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.82 |
1.95 |
1.94 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.85 |
2.51 |
0.86 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.39 |
0.83 |
(2.98) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.23 |
0.85 |
(2.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
27.16 |
6.34 |
(20.61) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.99 |
0.82 |
0.82 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.72 |
0.50 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.34 |
0.13 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.43 |
1.09 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.99 |
0.82 |
0.82 |
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 |
8985.756 |
8985.756 |
23141.792 |
|
Reserves & Surplus |
(5333.216) |
(5086.090) |
(2904.773) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3652.540 |
3899.666 |
20237.019 |
|
|
|
|
|
|
Long-term borrowings |
97.637 |
129.962 |
173.014 |
|
Short term borrowings |
9722.342 |
9690.815 |
9692.058 |
|
Total
borrowings |
9819.979 |
9820.777 |
9865.072 |
|
Debt/Equity
ratio |
2.689 |
2.518 |
0.487 |
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 |
25244.012 |
29837.252 |
58508.946 |
|
|
|
18.195 |
96.094 |
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 |
25244.012 |
29837.252 |
58508.946 |
|
Profit/(Loss) |
(752.665) |
247.126 |
5496.243 |
|
|
(2.98%) |
0.83% |
9.39% |
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 |
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
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
Z00300224 |
80040526 |
UNION BANK OF
INDIA |
25/03/1999 |
- |
- |
200000000.0 |
INDUSTRIAL FINANCE
BRANCHKH ROADBANGALOREKA560027IN |
|
2 |
Y10201986 |
90112294 |
ABNK AMRO BANK |
19/02/1996 |
12/08/1997 |
- |
224000000.0 |
NV DLF
CENTRESANSAD MARGNEW DELHIDL110001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Long-term maturities of finance lease |
173.014 |
129.962 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
335.475 |
0.000 |
|
Intercorporate deposits |
9356.583 |
9690.815 |
|
|
|
|
|
Total |
9865.072 |
9820.777 |
COMPANY OVERVIEW
GE India Industrial Private Limited (‘the Company’) is a subsidiary of GE Energy Europe B.V. The ultimate holding company is General Electric Co. USA. The registered office of the Company is situated in New Delhi.
The subject is engaged in the following business:
|
Division |
Nature of business |
|
Bently Nevada India (“BNI”) |
Export of computer software |
|
Bently Nevada Sales and Services (“BNSS”) |
Sales and service of vibration monitoring systems and related parts. |
|
Digital Energy |
Sale of industrial UPS and providing annual maintenance support services, sale, installation and commissioning of dissolved gas analysis kits and training of technicians and designing, engineering, supply, testing, installation and commissioning, technical services, hardware and software support (AMC’s/ LTSA) for power transmission and distribution and sale and purchase of industrial filtration products. |
|
One Corporate |
Providing strategic management, finance, human resources, sales and marketing, communication, legal and compliance, supply chain management, employee health and safety, government relations services, marketing support, infrastructure support, network infrastructure services and training services to General Electric group companies. |
|
Multi Model Facility (“MMF”) |
Provide shared manufacturing support to certain GE businesses within and outside India |
|
Lighting |
Trading of industrial lighting fixtures, High Intensity Discharge lamps and other lighting products. |
|
Oil and Gas |
Sales and service of specialised equipment and spares used in those specialised equipment’s used for extraction and transmission of oil and gas. |
|
Industrial Solutions |
Manufacture, erection and commissioning services for electrical installations and manufacturing and trading of electrical components |
|
Sensing and Inspection Technologies (“S&I”) |
Dealing in pressure instrument and sales and service of non-destructive testing equipment and the related films. |
|
|
Transportation Manufacturing and trading of critical locomotive spares. |
|
Water and Process Technologies (“Water”) |
Manufacture, sale and trade of specialty chemicals and membranes |
|
Wind |
Manufacturing and trading of wind turbine generators and providing related after sales services. |
|
Energy |
Marketing support to General Electric group companies. |
|
Healthcare |
Financial planning and analysis services to GE healthcare group companies. |
|
India Technology Center (“ITC”) |
Research and development activity in the areas of material sciences, process technology and providing engineering analysis and related software development services/ export of customized electronic data |
|
Global Technology Solutions (“GTS”) |
Provision of software development and engineering design services |
|
Hyderabad Technology Centre (“HTC”) |
Provision of software development and engineering design services |
|
India Innovation Centre (“IIC”) |
Provision of software development and engineering design services |
|
Energy Applications and Systems Engineering (“EA & SE”) |
Provision of engineering consultancy services |
|
Capital Head Quarter Solutions (“Capital HQS”) |
Provision of analytical support services |
|
Global Delivery Team (“GDT”) |
Provides business support services like Back office Operations, Data processing, Payroll etc. |
During the year w.e.f. 1 April 2016, GEITC & GEIE have been amalgamated with the Company, accordingly the Company has added seven divisions:- ITC, GTS, HTC, IIC, EA&SE, Capital HQS and Pondy EOU.
The accounting policies set out below have been applied consistently to the periods presented in these financial statements
COMPANY’S
PERFORMANCE DURING THE YEAR/STATE OF COMPANY’S AFFAIR
Business performance of divisions of the Company during the current year and future prospects of the company’s working is mentioned below.
a) Global Technology Solutions (“GTS”)
GTS was merged as part of the merger of the erstwhile GE India Exports Private Limited with the Company during the year. GTS is strong team comprising of about 1650 IT professionals part of global/regional IT team supporting Corporate, Capital, Energy management, Power Transportation, Healthcare, and Aviation businesses. The team executes on several global & regional Initiatives with expertise in various areas such as Iot, Data and analytics, ERP, Remote Monitoring & Diagnostics, IT Infrastructure and Network, Enterprise architecture, Database & Testing.
GE & its Information Technology globally have been going through a transformation in several areas such as below:
IT transformation: As part of GEs long term Strategy, Bangalore location has been identified as one of the ‘Digital Hub’ Supporting GE businesses world-wide. In order to achieve this long term objective, during the year, they set setting up a ~1500 seater new office space at Prestige Shantiniketan, Whitefield, Bangalore.
End user Experience: With the power of Mobile access, it is evident that both Employees & Customers need new/state of the art User experience solutions. The solutions could range from simple approval process internally, access to customer data for commercial & field service engineers remotely to monitoring/viewing customer plant data through mobile applications anywhere/anytime
Industrial Internet:
The world is on the threshold of a new era of innovation and change with the rise of the Industrial Internet. It is taking place through the convergence of the global industrial system with the power of advanced computing, analytics, low-cost sensing and new levels of connectivity permitted by the Internet. The deeper meshing of the digital world with the world of machines holds the potential to bring about profound transformation to global industry, and in turn to many aspects of daily life, including the way many of us do their jobs. These innovations promise to bring greater speed and efficiency to industries as diverse as aviation, rail transportation, power generation, oil and gas development, and health care delivery. It holds the promise of stronger economic growth, better and more jobs and rising living standards, whether in the US or in China, in a megacity in Africa or in a rural area in Kazakhstan. GE is investing heavily in this space across the globe in developing products, predictive algorithms with the help of data that we collect from their customer’s machines, make decisions that deliver new efficiency gains, accelerating productivity growth the way that the Industrial Revolution and the Internet Revolution did most of GTS Employees are playing a key role both in Strategy & execution of the transformation areas mentioned above.
Employee Engagement, Talent capability development and collaboration across hub were the key focus pillars this year and will continue in next year too. We engage employees via Leadership Town halls, Cultural events like Talent Day &Kids Konnect, Digital Hangouts – live project showcases for collaborations, Coding contests and Tech talks as Digital Bytes, GE women’s and volunteer network. We use digital platforms like Yammer, Eddie & Skype to keep employees informed and engaged. We also have invested in Training their employees in areas of Leadership, Technical expertise & Quality in supporting the Digital transformation. This has helped us to keep employees motivated and future ready.
b) Lighting
The business closed commercial operations on 30th Nov 2016 in Asia Region. In India, as part of the closure, the fixed assets were sold to Venture Lighting India Limited, a local India Company, in June 2017. The Venture were given GE brand rights for a year for a fee.
c) Healthcare
This division comprises of a team resources which works with GE Healthcare businesses around the globe providing FP&A and associated activities.
The following is the broad range of activities which are performed:
a. Financial and other reporting as agreed with the business owners
b. Prepare quarterly estimates / forecasts
c. Support monthly / quarter close process
d. Provide ad-hoc reporting / analysis
e. Develop presentations for reviews
f. Participate in reviews to ensure consistent message across different businesses / functions/regions
g. Analyze cost buckets, material, labor, overheads calculation and relevant components
h. Work with operations and finance team for monthly estimates and reporting
i. Support annual planning process
d) Global Infrastructure Services (GIS)
This division manages data center operations for GE business entities in India with a collocation space of 6500+ sq. ft. spread with IT infrastructure in 160+ Racks based out of 3rd party Data Center service provider in Bangalore. The DC support predominately focuses on hardware hosting (Power, Space, cooling and Security), Remote Hands & Feet support along with onsite administration and network provisioning.
SAND is a new initiative developed to increase GE’s ability to embrace both new technology and new workforce, coupled with a secure network to ensure a simple, flexible yet secure way of carrying out business transactions
This division has been spearheading the global SAND initiative in Bangalore Network Hub.
e) Kitting (Transportation)
This division was established on February 24, 2016. The purpose of new division is to assemble and make kits to be supplied to GE Diesel Locomotive Private Limited.
f) Digital Energy (DE)
Digital energy deals in trading and maintenance of UPS, Grid Automation equipment and software license.
g) Industrial Solutions (IS)
“Industrial Solution is engaged mainly in Electrical Distribution, Power Quality and Embedded solutions product lines. IS as a business has scaled down its operations during 2016-17 and has stopped booking any new orders in India for LV Equipment & LV Components due to low profitability in the business however continue selling Power Quality, Embedded Solutions Product lines & serving installed base customers with LV products including busways thru Destination sale model from IS global factories”. During the year the Energy Connections business announced plan to sell the Industrial Solutions business.
h) Multi Modal Facility
Mutli Modal Facility (MMF) is a GE concept. Globally it is first implemented by GEIIPL in India. MMF as a model caters to multiple businesses and is centralized under one roof by different manufacturing center of excellence (COE). GEIIPL has entered into memorandum of understanding with Government of Maharashtra and build greenfield manufacturing facility located in Chakan, Pune Maharashtra. This supports job creation in the state and facility is entitled for the Package Scheme of Incentive of the State Government of Maharashtra.
MMF wins most of its business within GE group.
MMF is treated as vendor by GE businesses, this keeps MMF competitive. MMF as a model is unique since it has Single ERP, Single Quality standard (Aviation standard) AS 9100. shared resources for manufacturing, high performance team culture and non -union and no-supervisor model to run the facility.
MMF currently does manufacturing for five different businesses. The products manufactured by MMF division are either exported or passed on to other business divisions within India for onward sales to domestic customers. The manufacturing activities at MMF are planned in different phases. During FY 2013-14, MMF was operational for first phase with focus on Wind, M&C, O&G, distributed power among other product lines. The succeeding phases followed by building machining and fabrication capability for other product lines.
Some of the products manufactured by MMF include connectors, parts of gas engines, turbomachinery, tubes, brackets, control panel, vibration monitoring system and other control systems, wind turbine generator (machine head & hub) and turbo charger.
PERFORMANCE OVERVIEW
MMF revenue (including inter divisional) for the year stood at 1522 crores up by 63% against last year. Strong growth in revenue is mainly driven by sale of manufactured products. On export side, sale of Aviation parts almost doubled on account of third shift operations, additional capacity increase and introduction of product like Bell Crank. Domestic market also witnessed healthy growth lead by inter division sales to Wind business. With increase in business activities and export sales, MMF saw increase in export related benefits and government incentives.
Robust growth in sales, tight control over expenses coupled with operational efficiency and higher equipment utilization resulted in healthy growth of standalone profit from 16.7 crores to 143.3 crores for the MMF division.
MMF achieved additional milestones in the financial year 2016-17 as below:
-MMF certified as GE “Brilliant Factory” with 4x4 score on LEAN and Digital initiatives.
-Started LEAP manifold manufacturing for prestigious US Aviation business.
-MMF bagged order for “Boiler Feed Pump Turbine” for its Oil & Gas business.
-For wind business MMF built first 2.3 WTG with stretched timelines.
-Through LEAN initiatives internal space generation and construction/ capex avoidance was carried out as the single largest productivity initiative.
-The space so generated will be mainly used for Diesel Locomotive parts manufacturing program and for additional new businesses in 2017-18.
-New building ~ 16000 sqft was constructed during the financial year to meet manufacturing growth requirements.
Management is confident that this growth trajectory will continue in next year. Capacity enhancement, new technology introduction coupled with introduction of new programs and timely execution of orders in hand is key for growth. Aviation business driven by new program introduction and Transport business with execution of order for supply of parts for diesel locomotives will lead the growth.
Energy Applications & Systems Engineering (“EA&SE”)
Performance of the EA&SE division:
EA&SE has been operating through its Systems Engineers and Power Economics teams. It emerged stronger in providing its Systems engineering solutions to the GE Customers globally, mainly focusing on the Power market analysis, generation & transmission planning, protection coordination and power systems studies for an interconnected power network.
Power Economics:
EA&SE through its Power Economics team has been instrumental in supporting GE Customers with analysis of electric power markets, power plant dispatch, policy and regulatory implications to help them make strategic planning decision under today’s power market uncertainties. The team also supports generation and transmission planning studies using production cost models to simulate power plant dispatches, transmission congestion analysis and locational based marginal price calculations.
The team through its deep domain expertise on power market assessment, investment decision analysis, variable generation studies etc., has supported the GE Power, Oil & Gas and Energy Connections businesses in generating the equipment sales orders and also built a strong commercial pipe line for these businesses.
SYSTEM ENGINEERING:
EA&SE through its power system engineers focuses on the planning and operation of interconnected power systems. The team has been engaged in the following key areas:
Power plant testing for grid code compliance
Transient dynamic model development and validation
Power system stabilizer (PSS), analysis, tuning and testing
Renewal power plants: electrical design review & performance analysis, interconnections and plant coordination
Grid code and technical standard development
Power plant protection settings coordination
Custom controls design, evaluation & implementation
Specialty automation & communications solutions
Customer training
Both the teams have been instrumental in generating revenue for EA&SE through power system studies carried out for global power projects and also creating the opportunities for GE businesses globally.
In order to build a strong pipeline, the team continued to approach the global and domestic energy markets to explore the opportunities for power systems studies and economic evaluation of the power plants. In the year 2016-17 EA&SE division was awarded an order of INR 4.500 million by Reliance Industries for its Nagothane plant to carry out a Power System Study. The group also received an additional order of INR 9.100 million from Shakti Sustainable Energy Foundation for renewable integration studies. Also, submitted commercial proposals for various power systems studies to the domestic and global customers.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Other matters |
|
|
|
Cumulative preference dividend |
0.000 |
300.866 |
|
Claims against the Company not acknowledged as debt |
806.879 |
642.444 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
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,
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 : |
SRY |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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.