|
|
|
MIRA INFORM REPORT
|
Report No. : |
490289 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
WORLDWIDE MEDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
The Times of India Building, 4th Floor, Dr. D.N. Road, Mumbai - 400001, Maharashtra |
|
Tel. No.: |
91-22-66353535 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.09.2003 |
|
|
|
|
Com. Reg. No.: |
11-142239 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.200
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH2003PTC142239 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM7563Q |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of printing, publishing, distributing and marketing magazines including "Femina", "Filmfare", "Lonely Planet", "Top Gear" etc. The Company is also involved in organizing and hosting the various masthead events, including "Filmfare Awards", "Femina Women Awards", "Hello! Hall of Fame Awards" and "The Great Food Show" etc. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Subject is a wholly owned subsidiary of “Bennett Coleman and Company
Limited” and was incorporated in the year 2003. It is engaged in the business
of printing, publishing, distributing and marketing magazines including
“Femina”, “Filmfare”, “Top Gear” etc. For the financial year 2017, the company has achieved slight growth in
its revenue by 0.70% along an average profit margin of 5.94%. The sound financial risk profile of the company is marked by adequate
networth base along with strong debt coverage indicators due to negligible
debt balance sheet profile. Rating takes into consideration the company’s favourable Earnings Per
Share of INR 969.87 against the Face Value of INR 10. Payments are reported to be slow but 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.
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 06.02.2018
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.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-22733535/ 66353535)
LOCATIONS
|
Registered Office : |
The Times of India Building, 4th Floor, Dr. D.N. Road, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66353535/ 22733535/ 22733356 |
|
Fax No.: |
91-22-22731585/ 1456 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arun Arora |
|
Designation : |
Director |
|
Address : |
Flat No 3A, Somerset Place 61-D, Bhulabhai Desai Road, Mumbai 400026, Maharashtra, India |
|
Date of Birth/Age : |
08.08.1945 |
|
Date of Appointment : |
16.09.2003 |
|
DIN No.: |
00172044 |
|
|
|
|
Name : |
Richard Blaise Saldanha |
|
Designation : |
Director |
|
Address : |
24, Senor Valley Road No. 13 Jubille Hills, Hyderabad 500033, Telangana, India |
|
Date of Birth/Age : |
03.02.1944 |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00189029 |
|
|
|
|
Name : |
Mr. Ranjeet Bhausaheb Kate |
|
Designation : |
Director |
|
Address : |
503, Windcliff First Road, TPS 4, Off Waterfield Road, Bandra [West], Mumbai 400050, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1964 |
|
Date of Appointment : |
10.09.2013 |
|
DIN No.: |
06654300 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Dad |
|
Designation : |
Company Secretary |
|
Address : |
4/5, Vardhman Colony, Bhilwara 311001, Rajasthan, India |
|
Date of Birth/Age : |
01.04.1976 |
|
Qualification : |
CA, CS |
|
Date of Appointment : |
12.04.2010 |
|
PAN No.: |
AARPD6055B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Bennett Coleman and Co. Limited |
|
119940 |
|
V.G. Jindal |
|
10 |
|
S. Sivakumar |
|
10 |
|
Renita Miranda |
|
10 |
|
Kausik Nath |
|
10 |
|
Prajakta Powale |
|
10 |
|
Shweta Chaturvedi |
|
10 |
|
Total |
|
120000 |
Equity Share Break up (Percentage of Total Equity)
As on 14.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
0.05 |
|
Promoters (Body corporate) |
99.95 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of printing, publishing, distributing and marketing magazines including "Femina", "Filmfare", "Lonely Planet", "Top Gear" etc. The Company is also involved in organizing and hosting the various masthead events, including "Filmfare Awards", "Femina Women Awards", "Hello! Hall of Fame Awards" and "The Great Food Show" etc. (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 declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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|
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Auditors : |
|
|
Name : |
SR Batliboi and Associates LLP Chartered Accountants |
|
Address : |
29, Senapatibapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Bennett Coleman and Company Limited (CIN No.: U22120MH1913PLC000391) |
|
|
|
|
Fellow Subsidiary
companies : |
|
CAPITAL STRUCTURE
As on 14.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
20000 |
Preference Shares |
INR 10/- each |
INR 0.200 Million |
|
|
Total |
|
INR 20.200
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000 |
Equity Shares |
INR 10/- each |
INR 1.200
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 |
1.200 |
1.200 |
1.200 |
|
(b) Reserves and Surplus |
1195.806 |
1079.422 |
811.409 |
|
(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) |
1197.006 |
1080.622 |
812.609 |
|
|
|
|
|
|
(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 |
2.254 |
4.269 |
|
(d) long-term
provisions |
4.110 |
4.676 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.110 |
6.930 |
4.269 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2.799 |
5.858 |
8.061 |
|
(b) Trade
payables |
258.578 |
199.525 |
274.787 |
|
(c) Other
current liabilities |
113.625 |
56.889 |
62.018 |
|
(d) Short-term
provisions |
22.698 |
20.466 |
18.016 |
|
Total Current
Liabilities (4) |
397.700 |
282.738 |
362.882 |
|
|
|
|
|
|
TOTAL |
1598.816 |
1370.290 |
1179.760 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14.944 |
8.084 |
7.093 |
|
(ii)
Intangible Assets |
1.918 |
2.431 |
1.988 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.201 |
2.082 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
61.411 |
43.420 |
49.722 |
|
(d)
Long-term loans and advances |
54.002 |
80.471 |
87.268 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
132.476 |
136.488 |
146.071 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1061.835 |
831.408 |
524.333 |
|
(b)
Inventories |
28.030 |
52.611 |
96.560 |
|
(c) Trade
receivables |
329.932 |
247.662 |
297.342 |
|
(d) Cash and
bank balances |
1.252 |
13.628 |
4.595 |
|
(e)
Short-term loans and advances |
45.291 |
88.493 |
110.859 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1466.340 |
1233.802 |
1033.689 |
|
|
|
|
|
|
TOTAL |
1598.816 |
1370.290 |
1179.760 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1632.409 |
1621.030 |
1726.508 |
|
|
Other Income |
81.642 |
99.961 |
54.753 |
|
|
TOTAL |
1714.051 |
1720.991 |
1781.261 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
72.014 |
100.579 |
138.229 |
|
|
Employee benefit expense |
357.625 |
300.895 |
274.512 |
|
|
Other expenses |
1132.216 |
959.362 |
1074.620 |
|
|
Prior period items before tax |
0.000 |
0.000 |
16.041 |
|
|
TOTAL |
1561.855 |
1360.836 |
1503.402 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
152.196 |
360.155 |
277.859 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.272 |
0.159 |
0.303 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
151.924 |
359.996 |
277.556 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.231 |
5.332 |
68.539 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
141.693 |
354.664 |
209.017 |
|
|
|
|
|
|
|
Less |
TAX |
25.309 |
125.320 |
45.735 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
116.384 |
229.344 |
163.282 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
969.87 |
1876.49 |
1360.67 |
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 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
237.179 |
342.972 |
199.770 |
|
Net cash flow from operating activity |
169.006 |
229.877 |
87.607 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
73.77 |
55.76 |
62.86 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.95 |
6.55 |
5.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
1310.59 |
724.07 |
725.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
5.43 |
6.85 |
2.88 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
8.92 |
28.59 |
30.60 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.25 |
0.21 |
0.31 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.01 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.33 |
0.26 |
0.45 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
559.54 |
2265.13 |
917.03 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
7.13 |
14.15 |
9.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.28 |
16.74 |
13.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.72 |
21.22 |
20.09 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.69 |
4.36 |
2.85 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.62 |
4.18 |
2.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.75 |
0.79 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.33 |
4.88 |
6.72 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.69 |
4.36 |
2.85 |
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 |
1.200 |
1.200 |
1.200 |
|
Reserves & Surplus |
811.409 |
1079.422 |
1195.806 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
812.609 |
1080.622 |
1197.006 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
8.061 |
5.858 |
2.799 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
8.061 |
5.858 |
2.799 |
|
Debt/Equity
ratio |
0.010 |
0.005 |
0.002 |
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 |
1726.508 |
1621.030 |
1632.409 |
|
|
|
(6.109) |
0.702 |
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 |
1726.508 |
1621.030 |
1632.409 |
|
Profit/ (Loss) |
163.282 |
229.344 |
116.384 |
|
|
9.46
% |
14.15
% |
7.13
% |
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 |
BACKGROUND
The Company was incorporated on 16 September 2003 and is a wholly owned subsidiary of Bennett Coleman andCo. Limited.
The Company is engaged in the business of printing, publishing, distributing and marketing magazines including "Femina", "Filmfare", "Lonely Planet", "Top Gear" etc. The Company is also involved in organizing and hosting the various masthead events, including "Filmfare Awards", "Femina Women Awards", "Hello! Hall of Fame Awards" and "The Great Food Show" etc.
REVIEW OF BUSINESS
OPERATIONS
During the financial year the company's business was impacted on account of various local economic conditions, which adversely affected the magazine publishing industry. During the current financial year the company's revenue, year on year, was INR 1714.051 Million as against INR 1720.991 Million. The company's business was adversely impacted due to the currency demonetisationtook place during the year, which has impacted overall business outlook through the country. The advertisment revenue of the companyt has decreased by 24.51%, year on year and the circulation revenue has decreased by 16.09%. However, the fall in advertisment and circulation revenue is partly compensated by introduction of various new event / television / digital properties, which resulted an increase in revenue of INR 257.083 Million, year on year. During the current financial year the company has seen a decline of 57.74% in EBITDA and 49.25% in PAT. The company's management, looking to the de-growth magazine publication business, has changed the revenue mix and has increased its focus on more revenue generation from event, content syndication, television and digital activities. This entails increase investment in the acquiring talents for Dgital and Content Studio teams which has impacted the profitability of the company in current financial year.
STATE OF COMPANY'S
AFFAIR:
The company has successfully conducted and organised various ongoing events including the Filmfare Awards Events, TopGear Awards, Femina Style Diva Contest etc. During the year the company has continued the sale of tickets for Filmfare (North) Awards and also extended same to Filmfare (south) Awards.The company has introduced various new events including Filmfare (Punjabi) and Filmfare (East) during the year. The company has also sucessfullyconducted a television show in association with Maruti Suzuki India Limited, wherein seven celebrities from various fields have driven cars on Asian Highway starting from New Delhi and terminating at Bangkok.
The company has hired various new personnel at various levels during the year. The company now has in-house digital team to manage its digital properties. The company is planning to extend its activities in the field of content syndication/licensing digital.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
2.799 |
5.858 |
|
|
|
|
|
Total |
2.799 |
5.858 |
INDEX
OF CHARGES
No Charges Exists for Company
FIXED ASSETS
- Buildings
- Other building
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 64.02 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
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.