|
|
|
MIRA INFORM REPORT
|
Report No. : |
489759 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DURFERRIT ASEA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-25/26, SIDCO Industrial Estate, Maraimalai Nagar, Kancheepuram –
603209, Tamilnadu |
|
Tel. No.: |
91-44-27451539 / 27452236 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
21.01.2004 |
|
|
|
|
Com. Reg. No.: |
18-052362 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 19.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299TN2004PTC052362 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD9125D |
|
|
|
|
GSTIN/UIN : |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Heat Treatment Chemicals. (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 945000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of HEF group based in France and it was incorporated
in the year 2004. As per financials of March 2017, the company has registered decline in
its revenue as compared to its previous year’s revenue and has reported good
profit margin of 7.12%. Rating takes into consideration the company’s established rack record
of business operations marked by healthy financial risk profile along with
zero debt balance shet and good liquidity position. Rating takes into account the strong financial and managerial support
received from its holding entity and well experienced management team. Further, the company has reported a good earnings per share of INR 14.90
against its face value of INR 10. However, rating strength is partially offset by vulnerability of its
operating margins to volatility in raw material prices and working capital
intensive operations. Payments seems to be regular. In view of aforesaid, the company can be considered god 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 |
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 08.02.2018
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 : |
A-25/26, SIDCO Industrial Estate, Maraimalai Nagar, Kancheepuram –
603209, Tamilnadu, India |
|
Tel. No.: |
91-44-27451539 / 27452236 |
|
Fax No.: |
91-44-42303665 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
16/35, 1st Floor, 6th Main Road, Raja
Annamalaipuram, Chennai-600028, Tamilnadu, India |
|
Tel. No.: |
91-44-24331198/ 42105060 |
|
Fax No.: |
91-44-42303665 |
|
|
|
|
Factory 1 : |
Plot No. 45 and 46, I D A Attur Post, Gajulamandyam, Renigunta Mandal,
Chittoor-517520, Andhra Pradesh, India |
|
|
|
|
Factory 2: |
Plot No. 56, Sector – 1, Kandla Special Economic Zone, Gandhidham
(Kutch) – 370230, Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Velapedu Sreenivasan Sankaranarayanan |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
16, Kambar Street, Perambur – 600011, Chennai, India |
||||||||||||||||
|
Date of Birth/Age : |
03.06.1965 |
||||||||||||||||
|
Date of Appointment : |
01.05.2006 |
||||||||||||||||
|
DIN No.: |
00180807 |
||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Dr. Maurin Perrier Philippe Georges Charles |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Lieu Di Meizeux, St Marcellin en Forez, France – 42680 |
||||||||||||||||
|
Date of Birth/Age : |
05.02.1960 |
||||||||||||||||
|
Date of Appointment : |
01.05.2006 |
||||||||||||||||
|
DIN No.: |
01483187 |
||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Dr. Matthias Reiner Kremer |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Am, Kloster Klarenthal 1665195, Wiesbaden, Germany |
||||||||||||||||
|
Date of Birth/Age : |
10.09.1959 |
||||||||||||||||
|
Date of Appointment : |
01.08.2012 |
||||||||||||||||
|
DIN No.: |
05352664 |
||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
HEF, France |
|
1899980 |
|
MTA, France |
|
20 |
|
Total |
|
1900000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2016
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Heat Treatment Chemicals. (Registered
Activity) |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
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Agencies Held : |
Not Available |
||||
|
|
|
||||
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Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS (As on 2016)
|
Licensed and Installed capacity |
|
EOU : 4000 MT |
|
DTA : N.A |
|
SEZ : N.A |
|
Production |
||
|
Class of Goods |
2015-16 |
2014-15 |
|
Chemicals |
2852138 Kgs |
3026045 Kgs |
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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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
J.V. Ramanujam and Company Chartered Accountants |
|
Address : |
Old No. 113, New No. 233, First Floor, R.K. Mutt Road, Raja
Annamalaipuram, Chennai-600028, Tamilnadu, India |
|
Tel. No.: |
91-44-24610307/ 24342325 |
|
Fax No.: |
91-44-42142850 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFJ0485G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : (As on 31.03.2016) |
HEF, France |
|
|
|
|
Fellow Subsidiary Companies : (As on 31.03.2016) |
|
CAPITAL STRUCTURE
As on 28.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1900000 |
Equity Shares |
INR 10/- each |
INR 19.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19.000 |
19.000 |
19.000 |
|
(b) Reserves & Surplus |
311.622 |
283.308 |
252.265 |
|
(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) |
330.622 |
302.308 |
271.265 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1.992 |
2.631 |
3.368 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.579 |
0.557 |
0.531 |
|
Total Non-current
Liabilities (3) |
2.571 |
3.188 |
3.899 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
9.436 |
13.288 |
|
(b) Trade
payables |
88.005 |
72.661 |
45.364 |
|
(c) Other
current liabilities |
2.848 |
1.993 |
1.676 |
|
(d) Short-term
provisions |
1.204 |
9.346 |
8.710 |
|
Total Current
Liabilities (4) |
92.057 |
93.436 |
69.038 |
|
|
|
|
|
|
TOTAL |
425.250 |
398.932 |
344.202 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
41.895 |
44.033 |
49.479 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
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 Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
41.895 |
44.033 |
49.479 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
141.901 |
121.320 |
90.036 |
|
(c) Trade
receivables |
169.962 |
187.974 |
164.969 |
|
(d) Cash
and cash equivalents |
31.827 |
24.122 |
13.487 |
|
(e) Short-term
loans and advances |
39.488 |
21.276 |
26.062 |
|
(f) Other
current assets |
0.177 |
0.207 |
0.169 |
|
Total
Current Assets |
383.355 |
354.899 |
294.723 |
|
|
|
|
|
|
TOTAL |
425.250 |
398.932 |
344.202 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
397.736 |
426.887 |
370.223 |
|
|
Other Income |
4.040 |
2.791 |
3.667 |
|
|
TOTAL |
401.776 |
429.678 |
373.890 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
287.995 |
322.450 |
238.205 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(20.227) |
(27.330) |
13.352 |
|
|
Employees benefits
expense |
16.415 |
15.262 |
12.907 |
|
|
Other expenses |
64.211 |
62.732 |
57.284 |
|
|
Extraordinary Items |
0.766 |
0.000 |
(0.074) |
|
|
TOTAL |
349.160 |
373.114 |
321.674 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
52.616 |
56.564 |
52.216 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
5.296 |
3.382 |
3.104 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
47.320 |
53.182 |
49.112 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.495 |
5.968 |
5.013 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
41.825 |
47.214 |
44.099 |
|
|
|
|
|
|
|
Less |
TAX |
13.511 |
13.714 |
12.071 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
28.314 |
33.500 |
32.028 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
273.379 |
313.011 |
279.275 |
|
|
TOTAL EARNINGS |
273.379 |
313.011 |
279.275 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Potassium Carbonate |
36.843 |
41.429 |
33.345 |
|
|
Lithium Carbonate |
68.476 |
98.398 |
82.754 |
|
|
Melamine |
51.651 |
41.622 |
34.590 |
|
|
T.G Urea |
7.111 |
5.445 |
5.544 |
|
|
Pottasium Thio Cyanate |
7.175 |
4.613 |
10.366 |
|
|
Sodium Cyanate |
1.498 |
3.152 |
1.840 |
|
|
Pottasium Cyanate |
13.448 |
6.773 |
7.117 |
|
|
REG1 |
0.000 |
4.866 |
0.000 |
|
|
Others |
3.822 |
3.708 |
6.822 |
|
|
Packing Materials |
1.045 |
1.209 |
1.101 |
|
|
TOTAL IMPORTS |
191.069 |
211.215 |
183.479 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
14.90 |
17.63 |
16.86 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
39.944 |
35.300 |
51.236 |
|
Net cash flow from operating activity |
26.202 |
20.848 |
39.389 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
155.97 |
160.72 |
162.64 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
2.34 |
2.27 |
2.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
111.54 |
82.25 |
69.51 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.37 |
0.47 |
0.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.26 |
1.28 |
1.06 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.22 |
0.23 |
0.20 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.03 |
0.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.28 |
0.31 |
0.25 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.13 |
0.15 |
0.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9.94 |
16.73 |
16.82 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
7.12 |
7.85 |
8.65 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.66 |
8.40 |
9.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.56 |
11.08 |
11.81 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
4.16 |
3.80 |
4.27 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.62 |
2.50 |
2.96 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.78 |
0.76 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.50 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
4.16 |
3.80 |
4.27 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
19.000 |
19.000 |
19.000 |
|
Reserves & Surplus |
252.265 |
283.308 |
311.622 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
271.265 |
302.308 |
330.622 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
13.288 |
9.436 |
0.000 |
|
Current Maturities of
Long term debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
13.288 |
9.436 |
0.000 |
|
Debt/Equity ratio |
0.049 |
0.031 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
370.223 |
426.887 |
397.736 |
|
|
|
15.305 |
-6.829 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
370.223 |
426.887 |
397.736 |
|
Profit/(Loss) |
32.028 |
33.500 |
28.314 |
|
|
8.65% |
7.85% |
7.12% |
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 |
Yes |
|
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 |
No |
|
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE (As on
31.03.2016)
The sale and profit has decreased slightly compared to last year. They
expect better results in the years to come.
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C50885144 |
10296816 |
The Hongkong and Shanghai Banking Corporation Limited |
04/07/2011 |
05/03/2015 |
- |
70000000.0 |
No 30, Rajaji Salai,Opp to Beach Station Chennai TAMILNADU 600001 INDIA |
|
2 |
B30465082 |
10258913 |
STATE BANK OF HYDERABAD |
02/12/2010 |
- |
29/12/2011 |
20000000.0 |
MOUNT ROAD BRANCH488-489 SATHGUR COMPLEX, ANA SALAI, NANDANAM CHENNAI TAMILNADU 600035 INDIA |
CONTINGENT
LIABILITIES: (As on 31.03.2016)
Bonds executed with customs Authorities INR 47.397 Million
FIXED ASSETS
·
Land Building
·
Plant and Machinery
·
Computers
·
Furniture and Fitting
·
Office Equipment
·
Lab Equipment
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 64.13 |
|
|
1 |
INR 89.49 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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.