|
|
|
MIRA INFORM REPORT
|
Report No. : |
504802 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GRUNDFOS PUMPS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.118, Rajiv Gandhi Salai, Old Mahabalipuram, Thoripakkam, Chennai –
600097, Tamilnadu |
|
Tel. No.: |
91-44-45966800 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.12.2017 |
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|
|
|
Date of
Incorporation : |
13.03.1998 |
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|
|
|
Com. Reg. No.: |
18-040102 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 162.345 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29309TN1998PTC040102 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0498047075 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACG8981B |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing, Assembling and Marketing of Pumps and Components. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a wholly owned subsidiary of Grundfos Holding AG,
Switzerland.
The company was incorporated in the year 1998. It is engaged in manufacturing of Pumps and Components. For the financial year 2017, the revenue of the company has increased
by 3.67% along with average profit margin of 5.08%. The sound financial profile of the company is marked by healthy
networth base along with strong debt coverage indicators due to debt free
balance sheet profile. The company has favourable Earning Per Share (EPS) of INR 153.77
against a face value (FV) of INR 100. The rating also takes into consideration strong financial and
managerial support that the company receive from its holding back entity and
its well experience management team. The rating takes into consideration the subject’s long established
track record of business operations along with extensive experience of its
promoters. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for god 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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Mobile No.: 91-44-45966800)
LOCATIONS
|
Registered Office/ Factory 1 : |
No.118, Rajiv Gandhi Salai, Old Mahabalipuram, Thoripakkam, Chennai –
600097, Tamilnadu, India |
|
Tel. No.: |
91-44-45966800/ 45966911/ 45966800 / 45966917 |
|
Fax No.: |
91-44-45966969 |
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E-Mail : |
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|
Website : |
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|
|
|
Factory 2 : |
SEZ Trade Division-Gin 3, Plot 19A, Seekina Kuppam, Kanchipuram-603305
Tamilnadu, India |
|
|
|
|
Regional Office : |
101, First Floor, Orion Business Park, Near Cine Wonder,
Ghodbunder Road, |
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|
|
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Other Regional Offices : |
Located
at: · Pune ·
·
· Kolkata ·
· Ahmedabad · Maldives · Dhaka · Thane |
DIRECTORS
As on 2018
|
Name : |
Mr. Nugahalli Krishna Ranganath |
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|
Designation : |
Managing Director |
||||||||||||||||||||||||||||
|
Address : |
APT 5, Sreshtha Apartments, Old No.57, |
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Date of Birth/Age : |
13.03.1956 |
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Qualification : |
Post Graduate |
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|
Date of Appointment : |
28.02.2018 |
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PAN No.: |
ACFPR6156H |
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DIN No.: |
00004044 |
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Other Directorship :
|
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|
||||||||||||||||||||||||||||
|
Name : |
Peter Krarup |
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|
Designation : |
Director |
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|
Address : |
327 Bukit Timah Road 11-02 Ferrel Residences Singapore 259715 SG |
||||||||||||||||||||||||||||
|
Date of Appointment : |
18.09.2017 |
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|
DIN No.: |
06836323 |
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KEY EXECUTIVES
|
Name : |
Mr. Venkataraman Ayyaswamy |
|
Designation : |
Company Secretary |
|
Address : |
14/121, Abhiramapuram, 4th Street, Abhiramapuram, Chennai –
600018, Tamilnadu, India |
|
Date of Birth/Age : |
17.06.1963 |
|
Date of Appointment : |
11.05.2012 |
|
PAN No.: |
AAGPA8023K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Grundfos Holding AG, Switzerland |
|
1623436 |
|
Grundfos A/S |
|
10 |
|
Ranganath N K |
|
1 |
|
Total |
|
1623447 |
Equity Share Break up (Percentage of Total Equity)
As on 09.03.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
99.9999384 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
0.0000616 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Assembling and Marketing of Pumps and Components. (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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|
||||
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Imports : |
Not Divulged |
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|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV N Ramana Tower, 52,
Venkatnarayana Road, T Nagar, Chennai-600017, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Grundfos Holding AG, Switzerland |
|
|
|
|
Ultimate Holding
Company : |
The Poul Due Jensen Foundation |
|
|
|
|
Fellow Subsidiary
Companies : |
|
CAPITAL STRUCTURE
As on 09.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 100/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1623447 |
Equity Shares |
INR 100/- each |
INR 162.345
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
162.345 |
162.345 |
162.345 |
|
(b) Reserves and Surplus |
1414.306 |
1766.482 |
1393.697 |
|
(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) |
1576.651 |
1928.827 |
1556.042 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
3.459 |
0.000 |
0.000 |
|
(d) long-term
provisions |
536.111 |
536.111 |
441.111 |
|
Total Non-current
Liabilities (3) |
539.570 |
536.111 |
441.111 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
782.212 |
648.385 |
534.122 |
|
(c) Other
current liabilities |
45.485 |
96.829 |
43.655 |
|
(d) Short-term
provisions |
7.918 |
9.254 |
26.665 |
|
Total Current
Liabilities (4) |
835.615 |
754.468 |
604.442 |
|
|
|
|
|
|
TOTAL |
2951.836 |
3219.406 |
2601.595 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
649.075 |
542.958 |
505.900 |
|
(ii)
Intangible Assets |
3.640 |
0.000 |
0.928 |
|
(iii) Tangible assets
capital work-in-progress |
2.572 |
70.978 |
1.692 |
|
(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) |
218.259 |
221.105 |
187.479 |
|
(d)
Long-term loans and advances |
724.353 |
629.568 |
560.864 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1597.899 |
1464.609 |
1256.863 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
727.359 |
634.441 |
518.581 |
|
(c) Trade
receivables |
388.668 |
329.663 |
324.160 |
|
(d) Cash and
bank balances |
209.489 |
760.086 |
479.376 |
|
(e)
Short-term loans and advances |
28.223 |
25.629 |
21.181 |
|
(f) Other
current assets |
0.198 |
4.978 |
1.434 |
|
Total
Current Assets |
1353.937 |
1754.797 |
1344.732 |
|
|
|
|
|
|
TOTAL |
2951.836 |
3219.406 |
2601.595 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4911.503 |
4737.483 |
4074.598 |
|
|
Other Income |
18.174 |
43.472 |
24.536 |
|
|
TOTAL |
4929.677 |
4780.955 |
4099.134 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1768.679 |
1722.671 |
1393.966 |
|
|
Purchases of
Stock-in-Trade |
1500.501 |
1337.926 |
1071.481 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
14.357 |
(110.088) |
79.789 |
|
|
Employee benefit expense |
392.887 |
382.642 |
328.077 |
|
|
CSR expenditure |
7.592 |
3.909 |
0.000 |
|
|
Other expenses |
766.249 |
809.437 |
805.662 |
|
|
TOTAL |
4450.265 |
4146.497 |
3678.975 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
479.412 |
634.458 |
420.159 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.871 |
5.084 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
479.412 |
633.587 |
415.075 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
94.144 |
61.977 |
70.675 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
385.268 |
571.610 |
344.400 |
|
|
|
|
|
|
|
Less |
TAX |
135.629 |
198.826 |
120.290 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
249.639 |
372.784 |
224.110 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
1336.288 |
963.504 |
739.394 |
|
|
|
|
|
|
|
Less |
Dividend including dividend
tax |
601.814 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
984.113 |
1336.288 |
963.504 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
576.356 |
534.113 |
346.692 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
153.77 |
229.63 |
138.05 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
364.732 |
623.440 |
609.374 |
|
Net cash flow from operating activity |
211.716 |
372.198 |
458.823 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
28.88 |
25.40 |
29.04 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
12.64 |
14.37 |
12.57 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
87.33 |
77.32 |
79.07 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.66 |
1.00 |
0.81 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.73 |
1.03 |
0.83 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.28 |
0.23 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.53 |
0.39 |
0.39 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.42 |
0.32 |
0.33 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
728.42 |
82.64 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
5.08 |
7.87 |
5.50 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.46 |
11.58 |
8.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.83 |
19.33 |
14.40 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.62 |
2.33 |
2.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.75 |
1.48 |
1.37 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.60 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.62 |
2.33 |
2.22 |
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 |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
162.345 |
162.345 |
162.345 |
|
Reserves & Surplus |
1393.697 |
1766.482 |
1414.306 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1556.042 |
1928.827 |
1576.651 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4074.598 |
4737.483 |
4911.503 |
|
|
|
16.269 |
3.673 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4074.598 |
4737.483 |
4911.503 |
|
Profit/ (Loss) |
224.110 |
372.784 |
249.639 |
|
|
5.50% |
7.87% |
5.08% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
PERFORMANCE FOR YEAR
2017
During the year 2017, the total income of your Company increased to INR 4929.000 million from INR 4781.000 million in the previous year.
Profit before Interest and Depreciation was INR 479.000 Million compared to INR 634.000 Million in the previous year. Similarly Profit after Tax was at INR 249.000 Million, as against INR 373.000 Million during the previous year.
INDEX
OF CHARGES
No Charges Exists for Company
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
· Leasehold Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.