|
|
|
MIRA INFORM REPORT
|
Report No. : |
506003 |
|
Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
WIRTGEN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 301/302, Bhandgaon-Khor Road, Bhandgaon, Daund Taluka, Pune – 412214, Maharashtra |
|
Mobile No.: |
91-8600993021 (Mr. Amit Chandak) |
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|
Country : |
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|
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
25.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-142477 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 298.296 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29211PN1995PTC142477 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0795010079 |
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TIN / CST No.: |
27530760864 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACW2816R1ZT |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACW2816R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The
company is engaged in the business of manufacturing of machineries for road
construction and marketing of spare parts relating to machineries for road
construction and mining. Further, the Company provides after sales service
relating to the machineries. [Registered
Activity] |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Wirtgen Group Holding GmbH, For the financial year 2017, the company has achieved decent growth in
its revenue profile along with fair profit margin of 5.83% during the year. Rating takes into consideration sound financial profile on back of low
financial leverage with favorable capital structure and comfortable liquidity
parameters. Rating also takes into account of strong financial and managerial
support that company receives from its holding entity backed its well
experienced management team. Trade relations are reported as fair. Business is active. Payments are
seems to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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) |
|
|
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
31-03-2018.
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 28.04.2018
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Amit Chandak |
|
Designation : |
Manager |
|
Contact No.: |
91-8600993021 |
|
Date : |
25.04.2018 |
91-9920211010 (Mr.
K. P. Shetty) - Continuously Ringing
91-22-40262039 / 91-22-40262040 /
91-2117-302600 / 91-2117-302799 – Not Working
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 301/302, Bhandgaon-Khor Road, Bhandgaon, Daund Taluka, Pune-412214, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9920211010 (Mr. K. P. Shetty) 91-8600993021 (Mr. Amit Chandak) |
|
Fax No.: |
91-2117-302799 |
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E-Mail : |
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|
Website : |
|
|
|
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Correspondence Office : |
Level 6, |
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|
|
|
Branch Office : |
25/A, (SCB#6-22-007), |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ramesh Govardhanrao Palagiri |
|
Designation : |
Managing director |
|
Address : |
Building "E", 10th Floor, Flat
No.E-1002, S.No.130/+140, MPT23+20, Laburnum Park, Magarpatta City, Hadapsar,
Pune-411022, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1963 |
|
Date of Appointment : |
24.09.2007 |
|
DIN No.: |
01840430 |
|
|
|
|
Name : |
Mr. Frank Georg Betzelt |
|
Designation : |
Director |
|
Address : |
Reitersdorfer Strasse 10, Bad Honnef, 53604, |
|
Date of Birth/Age : |
18.03.1968 |
|
Date of Appointment : |
24.11.2006 |
|
DIN No.: |
01097659 |
|
|
|
|
Name : |
Mr. Matthias Weber |
|
Designation : |
Director |
|
Address : |
14, Beethovenstrasse, Limburg An Der Lahn, 65549, |
|
Date of Birth/Age : |
02.01.1966 |
|
Date of Appointment : |
24.11.2006 |
|
DIN No.: |
01097775 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Chandak |
|
Designation : |
Manager |
|
|
|
|
Name : |
Mr. K. P. Shetty |
|
Designation : |
Assistant General Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Wirtgen Group Holding |
29829560 |
|
Erseg AG, |
40 |
|
|
|
|
Total |
29829600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in the business of manufacturing of machineries for road construction
and marketing of spare parts relating to machineries for road construction
and mining. Further, the Company provides after sales service relating to the
machineries. [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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Kirtane and Pandit LLP Chartered Accountants |
|
Address : |
73/2/2, Sangati, Bhakti Marg of F Law College Road, Pune-411004, Maharashtra, India |
|
PAN No.: |
AAPFK1026M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Wirtgen Group Holding GmbH, Germany |
|
|
|
|
Associates : |
· Hamm AG, Germany · Wirtgen GmbH, Germany · Joseph Vogele AG, Germany · Wirtgen Used Equipment GmbH, Germany · Kleemann GmbH, Germany |
|
|
|
|
Group Companies : |
· Wirtgen Road Technologies, Germany · Wirtgen (Thailand) Co. Limited |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29829600 |
Equity Shares |
INR 10/- each |
INR 298.296
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
298.296 |
298.296 |
158.900 |
|
(b) Reserves and Surplus |
1637.759 |
1163.377 |
708.923 |
|
(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) |
1936.055 |
1461.673 |
867.823 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
66.666 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
7.271 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.093 |
18.342 |
16.074 |
|
Total Non-current
Liabilities (3) |
24.093 |
85.008 |
23.345 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1712.289 |
1016.665 |
1098.575 |
|
(b) Trade
payables |
2780.829 |
2519.664 |
901.976 |
|
(c) Other
current liabilities |
1142.172 |
594.042 |
394.112 |
|
(d) Short-term
provisions |
160.413 |
8.028 |
5.027 |
|
Total Current
Liabilities (4) |
5795.703 |
4138.399 |
2399.690 |
|
|
|
|
|
|
TOTAL |
7755.851 |
5685.080 |
3290.858 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1268.990 |
1181.531 |
607.972 |
|
(ii)
Intangible Assets |
18.605 |
21.109 |
29.596 |
|
(iii) Tangible assets capital
work-in-progress |
0.000 |
17.678 |
310.449 |
|
(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) |
8.946 |
3.123 |
0.000 |
|
(d)
Long-term
loans and advances |
290.647 |
153.919 |
79.895 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1587.188 |
1377.360 |
1027.912 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2089.020 |
1587.642 |
853.856 |
|
(c) Trade
receivables |
2935.678 |
1995.676 |
1062.325 |
|
(d) Cash and bank
balances |
43.689 |
70.809 |
46.556 |
|
(e)
Short-term loans and advances |
1100.276 |
653.593 |
300.209 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
6168.663 |
4307.720 |
2262.946 |
|
|
|
|
|
|
TOTAL |
7755.851 |
5685.080 |
3290.858 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
8138.223 |
7006.908 |
2722.895 |
|
|
Other Income |
23.259 |
52.607 |
8.385 |
|
|
TOTAL |
8161.482 |
7059.515 |
2731.280 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2223.082 |
1927.825 |
932.119 |
|
|
Purchases of
Stock-in-Trade |
4777.467 |
3957.729 |
1198.998 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(615.909) |
(175.488) |
(20.949) |
|
|
Employee benefit expense |
464.264 |
447.874 |
276.403 |
|
|
Other expenses |
400.180 |
594.096 |
289.152 |
|
|
TOTAL |
7249.084 |
6752.036 |
2675.723 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
912.398 |
307.479 |
55.557 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
104.885 |
114.035 |
22.748 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
807.513 |
193.444 |
32.809 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
185.021 |
183.181 |
83.660 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
622.492 |
10.263 |
(50.851) |
|
|
|
|
|
|
|
Less |
TAX |
147.702 |
(14.170) |
9.582 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
474.790 |
24.433 |
(60.433) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
19.367 |
19.377 |
122.726 |
|
|
TOTAL EARNINGS |
19.367 |
19.377 |
122.726 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
4720.433 |
4189.943 |
1449.381 |
|
|
Capital Goods |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
4720.433 |
4189.943 |
1449.381 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
15.92 |
1.28 |
(5.98) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
Current Maturities of Long term debt |
66.667 |
33.333 |
77.005 |
|
Net cash flows from (used in) operations |
(591.257) |
48.696 |
506.432 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activities |
(591.257) |
48.696 |
506.432 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
131.67 |
103.96 |
142.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.77 |
3.51 |
2.56 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
144.99 |
156.26 |
154.48 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.44 |
0.19 |
0.07 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.71 |
0.25 |
0.06 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.75 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.92 |
0.76 |
1.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.99 |
2.83 |
2.77 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.67 |
0.83 |
1.09 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.70 |
2.70 |
2.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.83 |
0.35 |
(2.22) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.12 |
0.43 |
(1.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
24.52 |
1.67 |
(6.96) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 (12 Months) |
31.03.2016 (15 Months) |
31.12.2014 (12 Months) |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.06 |
1.04 |
0.94 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.70 |
0.66 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.25 |
0.26 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.96 |
3.74 |
7.40 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.06 |
1.04 |
0.94 |
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 |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
158.900 |
298.296 |
298.296 |
|
Reserves & Surplus |
708.923 |
1163.377 |
1637.759 |
|
Net
worth |
867.823 |
1461.673 |
1936.055 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
66.666 |
0.000 |
|
Short term borrowings |
1098.575 |
1016.665 |
1712.289 |
|
Current maturities of
long-term debts |
77.005 |
33.333 |
66.667 |
|
Total
borrowings |
1175.580 |
1116.664 |
1778.956 |
|
Debt/Equity
ratio |
1.355 |
0.764 |
0.919 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2722.895 |
7006.908 |
8138.223 |
|
|
|
157.333 |
16.146 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2722.895 |
7006.908 |
8138.223 |
|
Profit/ (Loss) |
(60.433) |
24.433 |
474.790 |
|
|
(2.22
%) |
0.35
% |
5.83
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
NOTE: The Registered office of the company has been
shifted from No.22-B, Kumbalgodu Industrial Area, Phase-1, Mysore Road,
Bangalore- 560074, Karnataka, India to the
present address w.e.f. 20.01.2012
BACKGROUND
The Company is a wholly owned subsidiary of WIRTGEN GROUP Holding GmbH, Germany. The Company was incorporated on 25th September 1995 as a full-fledged marketing and service set up of Wirtgen GROUP Holding GmbH, in India. The Company is primarily engaged in the business of manufacturing of machineries for road construction and marketing of spare parts relating to machineries for road construction and mining. Further, the Company provides after sales service relating to the machineries sold by Group Companies under the umbrella of Wirtgen GROUP Holding GmbH.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
66.666 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
0.000 |
92.000 |
|
Loans repayable on demand from banks |
563.334 |
324.389 |
|
Other loans and advances |
1148.955 |
600.276 |
|
|
|
|
|
Total |
1712.289 |
1083.331 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.