|
|
|
MIRA
INFORM REPORT
|
Report No. : |
490020 |
|
Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
YAKULT DANONE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-186, Ground Floor, Okhla Industrial Area, Phase I, New Delhi - 110020 |
|
Tel. No.: |
91-11-40626262 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
26.10.2005 |
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|
|
|
Com. Reg. No.: |
55-142154 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 174.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15209DL2005PTC142154 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
Service Tax No.: |
AAACY2585RST001 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACY2585R |
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|
|
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GSTIN/UIN : |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in the business of manufacturing and sale probiotic milk "Yakult" in the Indian market, the company has also been engaged in research and development of product technologies of probiotics. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 3440000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a Joint Venture between “Yakult Honsha Company Limited”
based in Japan and “Danone Probiotics Pte Limited” based in Singapore and it
was incorporated in the year 2005. As per financials of March 2017, the company has registered growth of
5.14% in its revenue as compared to its previous year’s revenue but has
reported losses. Rating takes into consideration the company’s satisfactory track
record of business operations marked by sound networth base along with zero
debt balance sheet and good liquidity position. Rating also takes into account the strong financial and managerial
support received from its joint venture companies. However, rating strength is partially offset by continuous losses from
its business operations of the company. Payments seems to be usually correct. In view of aforesaid, the company can be considered 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 03.02.2018
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.
LOCATIONS
|
Registered Office : |
D-186, Ground Floor, Okhla Industrial Area, Phase I, New Delhi – 110020,
India |
|
Tel. No.: |
91-11-40626262 |
|
Fax No.: |
91-11-40626200 |
|
E-Mail : |
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|
Website : |
|
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|
|
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Head Office and Corporate Office : |
Plot #16, 1st Floor, Community Center, Okhla Phase-I, New Delhi –
110020, India |
|
Tel. No.: |
91-11-40626262 |
|
Fax No.: |
91-11-40626200 |
|
|
|
|
Factory : |
402-405 and 410-413, |
DIRECTORS
As on 31.03.2017
|
Name : |
Minoru Shimada |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
Lexel Totsuka 102, 3352-1, Totsuka-cho, Totsuka-ku, Yokoham a, Kanagawa 000000 Japan |
||||||||||||||||
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Date of Birth/Age : |
26.07.1969 |
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Date of Appointment : |
12.06.2012 |
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DIN No.: |
05307868 |
||||||||||||||||
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|
||||||||||||||||
|
Name : |
Marcel Mathieu Marie Bertaud |
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Designation : |
Director |
||||||||||||||||
|
Address : |
1-33-7 Higashi- Yukigaya Ota- Ku, Tokyo 1450065 Japan |
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|
Date of Birth/Age : |
08.11.1961 |
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Date of Appointment : |
12.09.2006 |
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DIN No.: |
00754738 |
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|
||||||||||||||||
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Name : |
Tomoyuki Iwama |
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Designation : |
Director |
||||||||||||||||
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Address : |
B-406, First Floor, New Freinds Colony, New Delhi – 110020, India |
||||||||||||||||
|
Date of Birth/Age : |
03.04.1966 |
||||||||||||||||
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Date of Appointment : |
31.08.2007 |
||||||||||||||||
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DIN No.: |
01803705 |
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|
||||||||||||||||
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Name : |
Richard Colchester Hall |
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Designation : |
Director |
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|
Address : |
Yoyogi Kamizono-Cho 3-3-306 Shibuya-Ku Tokyo 1510052 Japan |
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|
Date of Birth/Age : |
10.09.1967 |
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Date of Appointment : |
28.02.2014 |
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DIN No.: |
06823651 |
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Name : |
Kotaro Nakajima |
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Designation : |
Director |
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Address : |
E-247, 2nd Floor, Greater Kailash, Part – I, Delhi – 110048, India |
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Date of Birth/Age : |
16.06.1976 |
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Date of Appointment : |
12.06.2015 |
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DIN No.: |
07171136 |
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|
||||||||||||||||
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Name : |
Kiran Atchutaramiah Annambhotla |
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Designation : |
Director |
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|
Address : |
A-806, Oberoi Splendor, JVLR, Opposite Majas Bus Depot, Jogeshwari (East), Mumbai – 400060, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
05.03.1974 |
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|
Date of Appointment : |
11.07.2016 |
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DIN No.: |
07292342 |
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Other Directorship:
|
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|
||||||||||||||||
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Name : |
Shiao Mien Loh |
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Designation : |
Director |
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Address : |
10, Taman Serasi #01-10 Singapore 257721 Singapore 257721 SG |
||||||||||||||||
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Date of Appointment : |
29.06.2017 |
||||||||||||||||
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DIN No.: |
07773639 |
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|
||||||||||||||||
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Name : |
Junichi Shimada |
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Designation : |
Director |
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|
Address : |
205 L Forest 3-18-1 Sengen-Cho, Fuchu-Shi Tokyo 1830001 Japan |
||||||||||||||||
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Date of Appointment : |
29.06.2017 |
||||||||||||||||
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DIN No.: |
07861969 |
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KEY EXECUTIVES
|
Name : |
Ms. Priyanka Mehta |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 255, Ward No. 11, Tehsil- Asandh, Distrct: Karnal – 132039, Haryana, India |
|
Date of Appointment : |
01.03.2016 |
|
PAN No.: |
COWPM3891R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Yakult Honsha Company Limited, Japan |
870 |
50.00 |
|
Danone Probiotics Pte Limited, Singapore |
870 |
50.00 |
|
Total |
1740 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 25.07.2017
|
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 sale probiotic milk "Yakult" in the Indian market, the company has also been engaged in research and development of product technologies of probiotics. (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 Available |
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||||
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Imports : |
Not Available |
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||||
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Auditors : |
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|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
3rd and 6th Floor, Wordmark-1, IGI Airport Hospitality District: Aerocity New Delhi-110037, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
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Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 25.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2640 |
Equity Shares |
INR 100000/- each |
INR 264.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1740 |
Equity Shares |
INR 100000/- each |
INR 174.000 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 |
174.000 |
154.000 |
264.000 |
|
(b) Reserves and Surplus |
1029.348 |
1140.513 |
1268.054 |
|
(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) |
1203.348 |
1294.513 |
1532.054 |
|
|
|
|
|
|
(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 |
2.629 |
2.879 |
3.129 |
|
(d) long-term
provisions |
113.330 |
11.466 |
10.354 |
|
Total Non-current
Liabilities (3) |
115.959 |
14.345 |
13.483 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
72.736 |
89.143 |
76.673 |
|
(c) Other
current liabilities |
8.875 |
15.656 |
7.556 |
|
(d) Short-term
provisions |
0.483 |
0.530 |
15.850 |
|
Total Current
Liabilities (4) |
82.094 |
105.329 |
100.079 |
|
|
|
|
|
|
TOTAL |
1401.401 |
1414.187 |
1645.616 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
751.037 |
825.379 |
819.998 |
|
(ii)
Intangible Assets |
1.185 |
0.066 |
0.101 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
80.449 |
80.479 |
89.309 |
|
(e) Other Non-current
assets |
1.637 |
3.310 |
7.754 |
|
Total Non-Current
Assets |
834.308 |
909.234 |
917.162 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
45.382 |
35.647 |
44.209 |
|
(c) Trade
receivables |
38.271 |
40.070 |
30.722 |
|
(d) Cash and
bank balances |
442.540 |
395.423 |
629.069 |
|
(e)
Short-term loans and advances |
35.409 |
24.854 |
9.713 |
|
(f) Other
current assets |
5.491 |
8.959 |
14.741 |
|
Total
Current Assets |
567.093 |
504.953 |
728.454 |
|
|
|
|
|
|
TOTAL |
1401.401 |
1414.187 |
1645.616 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
559.725 |
532.372 |
441.139 |
|
|
Other Income |
29.551 |
49.611 |
72.656 |
|
|
TOTAL |
589.276 |
581.983 |
513.795 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
118.767 |
103.185 |
114.832 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.840) |
(0.261) |
(0.324) |
|
|
Employee benefit expense |
148.352 |
150.763 |
136.294 |
|
|
Other expenses |
424.729 |
395.496 |
361.792 |
|
|
Prior period items before tax |
0.838 |
47.222 |
7.625 |
|
|
Exceptional items before tax |
99.907 |
34.444 |
0.000 |
|
|
TOTAL |
791.753 |
730.849 |
620.219 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(202.477) |
(148.866) |
(106.424) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.105 |
6.207 |
4.840 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(203.582) |
(155.073) |
(111.264) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
87.583 |
82.468 |
75.978 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(291.165) |
(237.541) |
(187.242) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(291.165) |
(237.541) |
(187.242) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
0.208 |
0.054 |
1.244 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
30.179 |
25.769 |
0.000 |
|
|
Components and spare
parts |
1.705 |
4.046 |
0.000 |
|
|
Capital Goods |
0.000 |
40.871 |
0.000 |
|
|
TOTAL IMPORTS |
31.884 |
70.686 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(188823.00) |
(154247.00) |
(70925.00) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(180.136) |
(194.846) |
(268.832) |
|
Net cash flow from operating activity |
(168.371) |
(198.844) |
(275.606) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors / Income
* 365 Days) |
24.96 |
27.47 |
25.42 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
14.63 |
13.29 |
14.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
223.54 |
315.33 |
243.71 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(4.46) |
(4.18) |
(2.41) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.27) |
(0.18) |
(0.13) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.06 |
0.07 |
0.06 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.07 |
0.08 |
0.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.63 |
0.64 |
0.54 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(183.24) |
(23.98) |
(21.99) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(52.02) |
(44.62) |
(42.45) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(20.78) |
(16.80) |
(11.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(24.20) |
(18.35) |
(12.22) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
6.91 |
4.79 |
7.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
6.35 |
4.46 |
6.84 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.86 |
0.92 |
0.93 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
6.91 |
4.79 |
7.28 |
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 |
264.000 |
154.000 |
174.000 |
|
Reserves & Surplus |
1268.054 |
1140.513 |
1029.348 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1532.054 |
1294.513 |
1203.348 |
|
|
|
|
|
|
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 |
441.139 |
532.372 |
559.725 |
|
|
|
20.681 |
5.138 |
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 |
441.139 |
532.372 |
559.725 |
|
Profit/ (Loss) |
(187.242) |
(237.541) |
(291.165) |
|
|
(42.45
%) |
(44.62
%) |
(52.02
%) |
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: The registered office of the company has been shifted from “52-Okhla Industrial Estate, Phase-III, New Delhi – 110020, India” to the present address w.e.f. 01.02.2016
CORPORATE INFORMATION
The Company, is a joint venture between Yakult Honsha, Japan and Danone Probiotics Pte Limited, Singapore with 50:50 shareholding. The Company has set up a plant at Rai, Haryana on land procured from HSIIDC to manufacture and sell probiotic milk. The plant was made commercially operational in December 2007.
BRIEF DESCRIPTION OF
THE COMPANY'S WORKING DURING THE YEAR:
The company is a leading manufacturer and seller of probiotic products in the Indian market. As a pioneer in probiotics, the company has also been engaged in research and development of product technologies of probiotics.
Yakult Danone India is working actively to build awareness about probiotics and contribute to a healthier society.
Under the given market scenario and other factors, the Board of Directors provided for the future course of action to be followed by the Company so that the overall performance of the Company could be improved upon in the coming years. The Board Members suggested different options to reduce the costs and increase the sales of the Company and after due discussion it was decided to prepare an action plan in this context, which is to be adhered in the coming quarter/s. After the end of the next financial year, the actual performance of the Company could be compared with the proposed performance (in the action plan) and reasons for any deviations could be assessed and further corrective measures could be undertaken accordingly.
INDEX OF CHARGES
No Charges Exists for Company
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor 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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.07 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
VVK |
|
|
|
|
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.