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|
MIRA INFORM REPORT
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Report No. : |
504456 |
|
Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GOODYEAR SOUTH ASIA TYRES PRIVATE LIMITED
(w.e.f.26.11.2001) |
|
|
|
|
Formerly Known
As : |
SOUTH ASIA TYRES PRIVATE LIMITED (w.e.f.07.09.2001) SOUTH ASIA TYRES LIMITED |
|
|
|
|
Registered
Office : |
H-18 & L-1, MIDC, Industrial Area, Waluj, Aurangabad – 431136,
Maharashtra |
|
Tel. No.: |
91-240-6608000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.12.1993 |
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|
|
|
Com. Reg. No.: |
11-075617 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 5237.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1993PTC075617 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0394048148 |
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TIN No.: |
27530369566 |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCG5544P |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCG5544P1Z5 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
The Company is engaged in the business of manufacturing and trading of tyres, tubes and flaps. (Registered Activity) |
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|
No. of Employees
: |
Information denied 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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
|
|
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|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “GOODYEAR TIRE AND RUBBER COMPANY” United States, which is ranked at 184th place in global fortune 500 company list in the year 2017. It was incorporated in the year 1993. Goodyear is one
of the world’s largest tyre companies. It manufactures its products in 50
facilities in 22 countries around the world. For the financial year ended 2017, the company has achieved revenue growth of 1.42% as compared to previous years along with a fair profit margin of 8.07% The sound financial risk profile of the company is marked by adequate net worth base along with debt free balance sheet profile. Rating also takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Business is active. Payment terms to be regular and as per commitments. In view strong parental support, the company can be considered good 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.
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 20.04.2018
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 (Tel No.: 91-240-6608000)
LOCATIONS
|
Registered Office/ Factory : |
H-18 & L-1, MIDC, Industrial Area, Waluj, Aurangabad – 431136,
Maharashtra, India |
|
Tel. No.: |
91-240-6608000/ 6608281 |
|
Fax No.: |
91-240-6608281/6608112 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Rajeev Anand |
|
Designation : |
Director |
|
Address : |
Olive Street- 2, Malibu Town, Sohna Road, Gurugram – 122001, Haryana, India |
|
Date of Birth/Age : |
23.05.1960 |
|
Date of Appointment : |
20.01.2009 |
|
PAN No.: |
AACPA2436L |
|
DIN No.: |
02519876 |
|
|
|
|
Name : |
Mr. Oliver Carsten Gloe |
|
Designation : |
Director |
|
Address : |
Room No. 1616, Shi Ji, Da Dao No. 8, Shanghai - 200122, China |
|
|
06.05.1974 |
|
Date of Appointment : |
30.09.2015 |
|
DIN No.: |
07250426 |
|
|
|
|
Name : |
Cesar Augusto Da Silva |
|
Designation : |
Director |
|
Address : |
1309/10, 1376 Nanjing Road West, Shanghai -200040 China |
|
Date of Birth/Age : |
15.04.1972 |
|
Date of Appointment : |
16.12.2016 |
|
DIN No.: |
07676604 |
|
|
|
|
Name : |
Mr. Praveen Kumar Walia |
|
Designation : |
Director |
|
Address : |
31/1, Friends Colony (West), New Delhi -110065, India |
|
Date of Birth/Age : |
18.07.1862 |
|
Date of Appointment : |
08.02.2017 |
|
PAN No.: |
AAGPA8460Q |
|
DIN No.: |
07728804 |
KEY EXECUTIVES
|
Name : |
Mr. Anup Karnwal |
|
Designation : |
Company Secretary |
|
Address : |
238, First Floor, Shakti Khand-4, Indirapuram, Shipra Sun
City, Ghaziabad- 201014, Uttar Pradesh, India |
|
Date of Appointment : |
03.04.2017 |
|
PAN No.: |
ARDPK5607K |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
of holding |
|
The Goodyear Tire and Rubber Company, Akron, Ohio, United State of America |
512387250 |
97.83 |
|
Goodyear Orient Company Private Limited, Singapore |
11340000 |
2.17 |
|
Total |
523727250 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing and trading of tyres, tubes and flaps. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
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Auditors : |
|
|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower - Board, DLF Cyber
City, Gurugram-122022, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
Holding company: |
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|
Fellow Subsidiary
Companies: |
|
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
530000000 |
Equity Shares |
INR 10/- each |
INR 5300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
523727250 |
Equity Shares |
INR 10/- each |
INR 5237.273 Million |
|
|
|
|
|
AS ON 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
530000000 |
Equity Shares |
INR 10/- each |
INR 5300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
523730000 |
Equity Shares |
INR 10/- each |
INR 5237.300 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
5237.300 |
5237.300 |
5237.300 |
|
(b) Reserves & Surplus |
3067.400 |
2282.900 |
1584.800 |
|
(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) |
8304.700 |
7520.200 |
6822.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
478.300 |
479.700 |
408.700 |
|
(c) Other long term
liabilities |
222.200 |
265.400 |
0.000 |
|
(d) long-term provisions |
197.000 |
171.000 |
141.700 |
|
Total
Non-current Liabilities (3) |
897.500 |
916.100 |
550.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1646.200 |
1476.900 |
1496.600 |
|
(c) Other current liabilities |
438.000 |
433.600 |
166.200 |
|
(d) Short-term provisions |
82.200 |
68.000 |
65.700 |
|
Total
Current Liabilities (4) |
2166.400 |
1978.500 |
1728.500 |
|
|
|
|
|
|
TOTAL |
11368.600 |
10414.800 |
9101.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4849.800 |
4582.000 |
4119.400 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1428.600 |
526.300 |
587.200 |
|
(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) |
182.100 |
248.600 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
430.700 |
|
(e) Other Non-current assets |
769.200 |
478.400 |
62.400 |
|
Total
Non-Current Assets |
7229.700 |
5835.300 |
5199.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1397.500 |
1138.500 |
897.300 |
|
(c) Trade receivables |
1322.100 |
1044.100 |
478.300 |
|
(d) Cash and cash equivalents |
1009.600 |
2127.100 |
2140.100 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
356.200 |
|
(f) Other current assets |
409.700 |
269.800 |
29.400 |
|
Total
Current Assets |
4138.900 |
4579.500 |
3901.300 |
|
|
|
|
|
|
TOTAL |
11368.600 |
10414.800 |
9101.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
9815.500 |
9678.200 |
8581.000 |
|
|
Other Income |
177.300 |
209.700 |
126.000 |
|
|
TOTAL
|
9992.800 |
9887.900 |
8707.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4267.500 |
4368.000 |
4542.000 |
|
|
Purchases of Stock-in-Trade |
36.800 |
47.900 |
65.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(72.400) |
(238.600) |
124.600 |
|
|
Employees benefits expense |
738.700 |
756.300 |
535.100 |
|
|
Other expenses |
3170.600 |
3167.200 |
1911.100 |
|
|
CSR expenditure |
0.000 |
0.000 |
2.500 |
|
|
TOTAL |
8141.200 |
8100.800 |
7180.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1851.600 |
1787.100 |
1526.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.600 |
27.000 |
21.200 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1848.000 |
1760.100 |
1505.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
663.100 |
607.200 |
593.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1184.900 |
1152.900 |
911.500 |
|
|
|
|
|
|
|
Less |
TAX |
392.500 |
379.400 |
327.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
792.400 |
773.500 |
584.500 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
1.51 |
1.48 |
1.12 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1277.900 |
837.000 |
1903.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
49.16 |
39.38 |
20.34 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.42 |
9.27 |
17.94 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
139.60 |
122.07 |
118.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.32 |
1.57 |
1.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.29 |
0.35 |
0.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.19 |
0.19 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.26 |
0.26 |
0.25 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.76 |
0.68 |
0.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
514.33 |
66.19 |
71.99 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.07 |
7.99 |
6.81 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.97 |
7.43 |
6.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.54 |
10.29 |
8.57 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.91 |
2.31 |
2.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.27 |
1.74 |
1.74 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.72 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.91 |
2.31 |
2.26 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
5237.300 |
5237.300 |
5237.300 |
|
Reserves & Surplus |
1584.800 |
2282.900 |
3067.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6822.100 |
7520.200 |
8304.700 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
8581.000 |
9678.200 |
9815.500 |
|
|
|
12.786 |
1.419 |
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 |
8581.000 |
9678.200 |
9815.500 |
|
Profit/ (Loss) |
584.500 |
773.500 |
792.400 |
|
|
6.81% |
7.99% |
8.07% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
The Company, an existing company under the Companies Act, 2013, is a subsidiary of The Goodyear Tire and Rubber Company, Akron, Ohio, USA (GTRC). The Company is a private limited company originally incorporated as public company on December 15, 1993. The Company is engaged in the business of manufacturing and trading of tyres, tubes and flaps with manufacturing facility at Aurangabad, Maharashtra, India
STATE OF COMPANYS
AFFAIRS
During the year, the net sales and other income of the Company increased from INR 9887.900 Million in the previous Financial Year to INR 9992.800 Million in the current Financial Year and the Company incurred a capital expenditure of INR 2225.300 Million.
The Company was conferred with a merit award in February 2017 from Hyundai Motor India Limited for special support for the year 2016. Moreover, The Company recently won the WASH Initiative of the Year at CSR Health Impact Awards 2017 for its CSR project for the FY 2016-17.
INDEX OF CHARGE:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Y10253064 |
90153294 |
BANK OF INDIA |
01/07/1996 |
- |
22/09/2003 |
200000000.0 |
MUMBAI INDL FINANCE BRANCH70/80; M. G. ROADBOMBAYMH400023IN |
|
2 |
Y10253142 |
90153372 |
PUNAJAB NATIONAL BANK |
21/04/1997 |
- |
29/03/2003 |
201800000.0 |
PNB HOUSESIR P. M. ROAD; FORTBOMBAYMH400001IN |
|
3 |
Y10252959 |
90153189 |
SCICI LIMITED |
13/09/1995 |
17/07/1996 |
09/04/2002 |
400000000.0 |
141; MAKER TOWER-FCUFFE PARADEMUMBAIMH400005IN |
|
4 |
Y10253124 |
90153354 |
THE ICICI LIMITED |
12/03/1997 |
- |
09/04/2002 |
201600000.0 |
163; BACKBAY RECLAMATIONMUMBAIMH400020IN |
|
5 |
Y10253576 |
90153806 |
ABN AMRO BANK |
29/03/2001 |
- |
22/01/2002 |
180000000.0 |
DLF CENTRESANSAD MARGNEW DELHIDL110001IN |
|
6 |
Y10253025 |
90153255 |
BANK OF AMERICA |
18/03/1996 |
06/03/1998 |
24/12/1999 |
125000000.0 |
DCM BUILDING; 7TH FLOOR 16; BARAKSHAMBA ROAD NEW DELHI 110001 IN |
|
7 |
Y10253206 |
90153436 |
BANK OF AMERICA |
18/11/1997 |
- |
24/12/1999 |
125000000.0 |
DCM BUILDING; 7TH FLOOR16; BARKHAMBA ROAD NEW DELHI 110001 IN |
|
8 |
Y10253002 |
90153232 |
SICOM LIMITED |
31/01/1996 |
20/03/1998 |
15/05/1998 |
100000000.0 |
NIRMAL 1ST FLOOR NARIMAN POINT MUMBAI MH 400021 IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·