|
|
|
MIRA INFORM REPORT
|
Report No. : |
506341 |
|
Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
DIVERSEY INDIA HYGIENE PRIVATE LIMITED (w.e.f. 22.02.2018) |
|
|
|
|
Formerly Known
As : |
SEALED AIR (INDIA) PRIVATE LIMITED (w.e.f. 03.01.2005) CRYOVAC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
501, 5th Floor, Ackruti Centre Point, |
|
Tel. No.: |
91-22-66444222 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
04.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-247909 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 129.810 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
|
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
27540562348V |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1597Q |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCC1597Q1Z2 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and trading of food packaging material, protective packaging materials and shrink packaging materials (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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Diversey Inc. and was incorporated on 04th February 1998. The company is engaged in the business of manufacturing and trading of food packaging materials, protective packaging materials and shrink packaging materials. For the financial year ended 2017, the company has achieved a favourable growth of 13.92% in its revenue as compared to the previous year’s revenue and has reported decent profit margin of 15.33% during the year under review. Ratings take into consideration strong financial profile marked by sound net worth base along with zero debt balance sheet profile and comfortable liquidity parameters. 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. However, rating strength partially offset by vulnerability of its operating margins to volatility in raw material prices marked by intense competition from organized and unorganized players in the industry and working capital intensive operations. Trade relations are reported as fair. Business is active. Payments are seems to be regular and as per commitment.
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.
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 30.04.2018
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.: 91-22-66444222)
LOCATIONS
|
Registered Office/ Corporate Office : |
501, 5th Floor, Ackruti Centre Point, MIDC Central Road,
Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66444222 |
|
Fax No.: |
91-22-66444223 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
No.245, 8th Main, 3rd Phase, Peenya Industrial Area,
Peenya, Bangalore, Karnataka, India |
|
|
|
|
Factory 2 : |
Also Located At: Bhiwandi, Thane, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Himanshu Jain |
|
Designation : |
Managing Director |
|
Address : |
1303, Octavius, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1966 |
|
Date of Appointment : |
11.10.2013 |
|
DIN No.: |
03540481 |
|
|
|
|
Name : |
Mr. Manish Poddar |
|
Designation : |
Director |
|
Address : |
E-104/2, Naraina Vihar, New Delhi-110028, India |
|
Date of Appointment
: |
28.08.2017 |
|
DIN No.: |
00124176 |
|
|
|
|
Name : |
Shiraz Haneefakutty |
|
Designation : |
Additional Director |
|
Address : |
A Haneefakutty, Shifina, Prasanthi Nagar 81, Vadakkevila, Kollam-691010, Kerala, India |
|
Date of Appointment : |
19.01.2018 |
|
DIN No.: |
08052468 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Cryovac International, United States of America |
1971300 |
|
Cryovac, Inc., United States of America |
2 |
|
Diversey Inc.,
United States of America |
11009676 |
|
Total |
12980978 |
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 : |
Subject is engaged in the business of manufacturing and
trading of Food packaging materials, protective packaging materials and shrink
packaging materials. (Registered Activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
22, Camac Street, Block C, III Floor, Kolkata -700016, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFE1763C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
· Diversey Inc. |
|
|
|
|
Fellow Subsidiary
Companies : |
· Diversey Easter & Central Africa Limited · Diversey Gulf FZE · Sealed Air Corporation · Diversey Inc. · Cryovac Australia Pty. Limited · Cryovac Inc · Cryovac Malaysia (Sdn) Bhd · Diversey Hygiene (GuangDong) Limited · Diversey Europe Operation BV · Diversey Hong Kong Limited · Diversey Hygiene (Thailand) Co. Limited · Diversey Inc. · Diversey Kimya Sanayi Ve Ticar · Diversey Korea Co. · Diversey Nigeria Limited · Diversey Philippines Inc. · Diversey (Malaysia) Sdn Bhd · Diversey Private Limited (Pakistan) · Diversey Singapore Pte. Limited · Diversey Trading (Shanghai) Co., Limited · Pt Diversey Indonesia · Diversey Africa (Pty) Limited · Diversey Maroc S.A. · Sealed Air Australia Pvt. Limited · Sealed Air B.V (Netherland) · Sealed Air Corporation USA · Sealed Air Gmbh · Sealed Air Hungary Limited · Sealed Air Japan G.K. · Sealed Air Malaysia Sdn Bhd · Sealed Air New Zealand · Sealed Air China Company Limited · Sealed Air S.A.S · Sealed Air S.R.L.(Italy) · Sealed Air Singapore Pte. Limited · Sealed Air Taiwan Limited · Sealed Air Hong Kong Limited · Shanklin Corporation · Diversey Egypt Limited |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33000000 |
Equity Shares |
INR 10/- each |
INR 330.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12980978 |
Equity Shares |
INR 10/- each |
INR 129.810 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
129.810 |
129.810 |
19.713 |
|
(b) Reserves & Surplus |
1689.062 |
3190.199 |
496.372 |
|
(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) |
1818.872 |
3320.009 |
516.085 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
23.803 |
35.597 |
7.106 |
|
Total
Non-current Liabilities (3) |
23.803 |
35.597 |
7.106 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1060.343 |
1020.223 |
146.919 |
|
(c) Other current liabilities |
135.605 |
123.228 |
14.189 |
|
(d) Short-term provisions |
127.524 |
119.787 |
21.473 |
|
Total
Current Liabilities (4) |
1323.472 |
1263.238 |
182.581 |
|
|
|
|
|
|
TOTAL |
3166.147 |
4618.844 |
705.772 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
474.662 |
496.004 |
47.095 |
|
(ii) Intangible Assets |
2.367 |
21.094 |
0.000 |
|
(iii) Capital work-in-progress |
58.739 |
22.444 |
15.516 |
|
(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) |
185.593 |
136.459 |
15.903 |
|
(d) Long-term Loan and Advances |
122.717 |
115.461 |
26.369 |
|
(e) Other Non-current assets |
0.100 |
0.100 |
0.000 |
|
Total
Non-Current Assets |
844.178 |
791.562 |
104.883 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
581.860 |
531.129 |
180.723 |
|
(c) Trade receivables |
718.348 |
608.670 |
185.615 |
|
(d) Cash and cash equivalents |
765.131 |
2575.731 |
213.694 |
|
(e) Short-term loans and
advances |
255.173 |
90.823 |
20.393 |
|
(f) Other current assets |
1.457 |
20.929 |
0.464 |
|
Total
Current Assets |
2321.969 |
3827.282 |
600.889 |
|
|
|
|
|
|
TOTAL |
3166.147 |
4618.844 |
705.772 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
6515.507 |
5719.479 |
1112.594 |
|
|
Other Income |
133.363 |
140.752 |
22.398 |
|
|
TOTAL
|
6648.870 |
5860.231 |
1134.992 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1181.784 |
1052.353 |
136.398 |
|
|
Purchases of Stock-in-Trade |
1530.490 |
1357.371 |
665.556 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(15.522) |
21.545 |
(16.594) |
|
|
Employees benefits expense |
697.388 |
632.521 |
77.388 |
|
|
Other expenses |
1713.197 |
1578.186 |
92.285 |
|
|
CSR Expenditure |
8.474 |
5.903 |
0.000 |
|
|
TOTAL |
5115.811 |
4647.879 |
955.033 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1533.059 |
1212.352 |
179.959 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.275 |
2.170 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1530.784 |
1210.182 |
179.959 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
184.180 |
172.908 |
17.242 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1346.604 |
1037.274 |
162.717 |
|
|
|
|
|
|
|
Less |
TAX |
347.966 |
291.905 |
55.549 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
998.638 |
745.369 |
107.168 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
76.93 |
57.42 |
54.36 |
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 |
1128.953 |
1384.367 |
76.052 |
|
Net Cash flows from operating activities |
726.092 |
1033.204 |
18.611 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
40.24 |
38.84 |
60.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
9.07 |
9.40 |
5.99 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
142.69 |
154.53 |
66.87 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.63 |
2.28 |
1.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.86 |
2.25 |
2.87 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.42 |
0.27 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.73 |
0.38 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.29 |
0.16 |
0.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
673.87 |
558.69 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
15.33 |
13.03 |
9.63 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
31.54 |
16.14 |
15.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
54.90 |
22.45 |
20.77 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.75 |
3.03 |
3.29 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.31 |
2.61 |
2.30 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.57 |
0.72 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.75 |
3.03 |
3.29 |
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 |
19.713 |
129.810 |
129.810 |
|
Reserves & Surplus |
496.372 |
3190.199 |
1689.062 |
|
Net
worth |
516.085 |
3320.009 |
1818.872 |
|
|
|
|
|
|
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 |
1112.594 |
5719.479 |
6515.507 |
|
|
|
414.067 |
13.918 |
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 |
1112.594 |
5719.479 |
6515.507 |
|
Profit/ (Loss) |
107.168 |
745.369 |
998.638 |
|
|
9.63% |
13.03% |
15.33% |
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 |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from #245,8th Main, 3rd Phase, Peenya Industrial Area, Peenya, Bangalore – 560058, Karnataka, India to the present address w.e.f. 09.07.2013
INDEX OF CAHREGS: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and Fixtures
- Vehicles
- Office equipment
- Computer Equipment’s
- 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, 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 66.83 |
|
UK Pound |
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
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.