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|
MIRA INFORM REPORT
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Report No. : |
503911 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MOUNT LITERA EDUCATION FOUNDATION |
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|
|
|
Registered
Office : |
135, Continental Building, Dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra |
|
Tel. No.: |
91-22-40343900 |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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|
Date of
Incorporation : |
07.09.2012 |
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|
|
|
Com. Reg. No.: |
11-235422 |
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|
Capital
Investment / Paid-up Capital : |
INR 0.001
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U80904MH2012NPL235422 |
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|
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|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICM1698K |
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Legal Form : |
Educational Institution |
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Line of Business
: |
Subject is Running Education Schools. [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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow |
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|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2012 and it is having moderate track. It is engaged in running education schools. For the financial year 2017, the subject has shown increment in its revenue from operations as compared to previous year but reported losses. Rating takes into consideration accumulated losses registered by the company which has resulted into erosion of its entire networth. Further, rating is constrained on account of continuously incurring losses from its business operations and intense competition from industry. However, rating weakness is partially offset by support received from Zee group as “Zee Learn” through business channel partner to providing necessary guidance and end to end consultancy in setting up and operationalizing the school. Business is active. Payments are slow. In view of aforesaid, the company can be considered for business dealings with some caution. |
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
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 : |
Ms. Naina |
|
Designation : |
Assistant Company Secretary |
|
Contact No.: |
91-22-40343900 |
|
Date : |
13.04.2018 |
|
|
|
|
Name : |
Mr. Ranjeet |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-40343987 |
|
Date : |
13.04.2018 |
LOCATIONS
|
Registered Office : |
135, Continental Building, Dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Level 6, Fun Republic, Off. New Link Road, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Tel. No.: |
91-22-40343900/ 40343987 |
|
Fax No.: |
91-22-26743422 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Pankaj Purshottam Suroliya |
|
Designation : |
Director |
|
Address : |
Flat No. 115, D Wing, Arpan Apts, Jeasal Park, Bhayander
East, Thane-401105, Maharashtra, India |
|
Date of Birth/Age : |
27.02.1967 |
|
Date of Appointment : |
07.09.2012 |
|
DIN No.: |
03442312 |
|
|
|
|
Name : |
Mr. Kingston Michael D'souza |
|
Designation : |
Director |
|
Address : |
Flat No. 103, Mangal Jyot, Ashtvinayak, Ambadi Road, K. T.
Village, Diwanman, Vasai West, Umele, Ba Ssein Road, Palghar-401202, Maharashtra,
India |
|
Date of Appointment : |
29.12.2016 |
|
DIN No.: |
07693384 |
KEY EXECUTIVES
|
Name : |
Ms. Naina |
|
Designation : |
Assistant Company Secretary |
|
|
|
|
Name : |
Mr. Ranjeet |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Pankaj Suroliya |
50 |
50.00 |
|
Kingston D'souza |
50 |
50.00 |
|
|
|
|
|
Total |
100 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Running Education Schools. [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 : |
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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 : |
Information declined by the Management |
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Bankers : |
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Facilities : |
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Financial Institutions : |
· Axis Trustee Services Limited · PNB Investment Services Limited 10, Rakesh Deep Building, Yusuf Sarai Commercial Complex, Gulmohar Enclave, New Delhi - 110049, India |
|
Auditors : |
|
|
Name : |
J Singh and Associates Chartered Accountants |
|
Address : |
Western Express Highway, Andheri East, Mumbai-400060, Maharashtra,
India |
|
Tel. No.: |
91-22-66994618/ 66994619/ 28381081 |
|
Fax No.: |
91-22-66994617 |
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E-Mail : |
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PAN No.: |
AABPD3016C |
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|
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|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100 |
Equity Shares |
INR 10/- each |
INR 0.001
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 |
|
|
|
|
0.001 |
0.001 |
0.001 |
|
|
(b) Reserves & Surplus |
(184.356) |
(48.780) |
(27.556) |
|
(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) |
(184.355) |
(48.779) |
(27.555) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
650.000 |
17.911 |
17.911 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
650.000 |
17.911 |
17.911 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
83.243 |
55.368 |
33.738 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
83.243 |
55.368 |
33.738 |
|
|
|
|
|
|
TOTAL |
548.888 |
24.500 |
24.094 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.013 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
516.660 |
16.585 |
16.405 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
517.673 |
16.585 |
16.405 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
28.300 |
6.492 |
6.247 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
2.915 |
1.423 |
1.442 |
|
Total
Current Assets |
31.215 |
7.915 |
7.689 |
|
|
|
|
|
|
TOTAL |
548.888 |
24.500 |
24.094 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations [Fees] |
49.320 |
36.968 |
30.492 |
|
|
|
Transport Fees |
12.780 |
9.996 |
0.000 |
|
|
|
Other Income |
1.518 |
0.923 |
8.838 |
|
|
|
TOTAL |
63.618 |
47.887 |
39.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Cost |
17.460 |
17.046 |
13.206 |
|
|
|
Other expenses |
71.639 |
46.789 |
31.302 |
|
|
|
Cost of Education |
5.791 |
5.276 |
3.775 |
|
|
|
TOTAL |
94.890 |
69.111 |
48.183 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(31.272) |
(21.224) |
(8.853) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
104.304 |
0.000 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(135.576) |
(21.224) |
(8.953) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(135.576) |
(21.224) |
(8.953) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(135.576) |
(21.224) |
(8.953) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(1355760.00) |
(21243.00) |
(89532.89) |
|
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 |
(109.661) |
0.116 |
(0.998) |
|
|
|
|
|
|
Net Cash from Operating Activities |
(109.661) |
0.116 |
(0.998) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
NA |
NA |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(30.87) |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.34 |
2.99 |
2.14 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(3.53) |
(0.37) |
(0.65) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(0.45) |
(1.14) |
(1.22) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.01) |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.30) |
0.00 |
(88.53) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(218.32) |
(45.19) |
(29.36) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(24.70) |
(86.63) |
(37.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
73.54 |
43.51 |
32.49 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.37 |
0.14 |
0.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.37 |
0.14 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.34) |
(1.99) |
(1.14) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
650000.00 |
17911.00 |
17911.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.37 |
0.14 |
0.23 |
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 |
0.001 |
0.001 |
0.001 |
|
Reserves & Surplus |
(27.556) |
(48.780) |
(184.356) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(27.555) |
(48.779) |
(184.355) |
|
|
|
|
|
|
long-term borrowings |
17.911 |
17.911 |
650.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
17.911 |
17.911 |
650.000 |
|
Debt/Equity
ratio |
(0.650) |
(0.367) |
(3.526) |
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 |
|
Income from Operations |
30.492 |
46.964 |
62.100 |
|
|
|
54.021 |
32.229 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Income from Operations |
30.492 |
46.964 |
62.100 |
|
Profit/ (Loss) |
(8.953) |
(21.224) |
(135.576) |
|
|
(29.36%) |
(45.19%) |
(218.32%) |
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 |
No |
|
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 |
G08270167 |
100041002 |
AXIS TRUSTEE SERVICES LIMITED |
20/06/2016 |
- |
- |
730000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMa400025IN |
|
2 |
G09993734 |
100045996 |
AXIS TRUSTEE SERVICES LIMITED |
20/06/2016 |
- |
- |
240000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
3 |
G09999541 |
100046020 |
AXIS TRUSTEE SERVICES LIMITED |
20/06/2016 |
- |
- |
630000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
4 |
G10000743 |
100046025 |
AXIS TRUSTEE SERVICES LIMITED |
20/06/2016 |
- |
- |
350000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
5 |
C33506957 |
10479231 |
PNB INVESTMENT SERVICES LIMITED |
14/02/2014 |
- |
17/11/2014 |
1920000000.0 |
10, Rakesh Deep Building,Yusuf Sarai Commercial Complex, Gulmohar EnclaveNew DelhiDL110049IN |
CORPORATE
INFORMATION
Subject (“MLEF” the company) incorporated and registered on 7th
September 2012 by the office of the Registrar of Companies, in the state of
Maharashtra with company Registration No. U80904MH2012NPL235422. The company
has received licence under section 8 of The Companies Act, 2013 and is engaged
in running education schools.
FINANCIAL
PERFORMANCE
During the financial year ended 31st March, 2017, the
company’s Income from operations and other Income was INR 63.618 Million and
total expenses incurred during the year INR 199.194 Million resulting into
deficit of INR 135.576 Million.
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
UK Pound |
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
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 |
NO |
|
--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.