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MIRA INFORM REPORT
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Report No. : |
490287 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GEORG FISCHER PIPING SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Prabhat Bhavan, 2nd Floor, 96, L.B.S Marg, Vikhroli (West), Mumbai – 400083, Maharashtra |
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Tel. No.: |
91-22-40072000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
01.05.2007 |
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Com. Reg. No.: |
11-170505 |
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Capital
Investment / Paid-up Capital : |
INR 215.380 Million |
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CIN No.: [Company Identification
No.] |
U36900MH2007FTC170505 |
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IEC No.: |
0307030075 |
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GSTIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCG8534A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 2007. It is a subsidiary of Georg Fischer AG, Switzerland which holds 92.15% stake in the company and remaining 7.85% is held by Georg Fischer Piping Systems Limited, Switzerland. As per the financial records of 2017, the company has achieved a fair growth of 6.87% in its revenue as compared to the previous year’s revenue and has earned an average net profit margin of 2.78%. The overall financial position of the company seems to be satisfactory marked by acceptable net worth base along with low debt balance sheet profile and modest liquidity position. Rating takes into consideration the strength that the company derives from its holding company and its experienced management team. However rating is constrained on account of low reserve base of the company. Business is active. 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 condition. |
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
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 07.02.2018.
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 BY
|
Name : |
Mr. Kedar Managaonkar |
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Designation : |
Plant Controller |
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Contact No.: |
91-9049316600 |
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Date : |
03.02.2018 |
MANAGEMENT NON COOPERATIVE [Tel No.91-22-40072000/ 08]
LOCATIONS
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Registered Office : |
Prabhat Bhavan, 2nd Floor, 96, L.B.S Marg, Vikhroli (West), Mumbai – 400083, Maharashtra, India |
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Tel. No.: |
91-22-40072000 / 40072008 |
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Mobile No.: |
91-9049316600 (Mr. Kedar Mangaonkar) |
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Fax No.: |
91-22-40072020 |
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E-Mail : |
ramesh.chandan@georgfischer.com |
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Website : |
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Factory : |
Plot No. C-223, 224, 225, Mirjole Industrial Area, Ratnagiri, |
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Regional Sales Office 1: |
Address : 206, 2nd Floor, Ansal Classique Tower, Block-I,
Rajouri Garden, New Delhi - 110027, India Tel No.: 91-11-45520494 Fax No.: 91-11-45520496 |
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Regional Sales Office 2: |
Chennai Address : Flat No.10, Door No.12, 3rd Floor, Swathi
Complex, Tel No.: 91-44-45502403 Fax No.: 91-44-45502401 |
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Regional Sales Office 3: |
Address : 303, 3rd Floor, Mohan Shradha Complex, Habsiguda,
Hyderabad - 500007, Telangana, India Tel No.: 91-40-40165794 Fax No.: 91-40-40165795 |
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Regional Sales Office 4: |
Ahmedabad Address : 906, Sukhsagar Complex, Ashram Road, Near Fortune Hotel landmark,
Usmanpura, Ahmedabad - 380014, Gujarat, India Tel No.: 91-79-27561510 Fax No.: 91-79-27561511 |
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Regional Sales Office : |
Also Located At: Kolkata |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Shekhar Shivajirao Jagtap |
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Designation : |
Managing Director |
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Address : |
302/B, Harshvardhan, Plot No. CTS No.185, Saki Vihar Road, Kurla
(West), Mumbai - 400072, Maharashtra, India |
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Date of Birth/Age : |
08.07.1963 |
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Qualification : |
Mechanical Engineer |
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Date of Appointment : |
11.05.2007 |
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PAN No.: |
AAOPJ6924A |
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DIN No.: |
01479856 |
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Name : |
Mads Bandholtz Jorgebsen |
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Designation : |
Director |
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Address : |
IM Kloesterli, 21, 8044, Zurich, 44, Zurichberg, Switzerland 008044,
Switzerland |
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Date of Birth/Age : |
01.01.1969 |
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Date of Appointment : |
10.05.2010 |
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DIN No.: |
03027357 |
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Name : |
Dominique Andre Van Ackere |
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Designation : |
Director |
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Address : |
Aststraat, 9, Waregem 8790, Belgium |
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Date of Appointment : |
13.06.2016 |
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DIN No.: |
07538088 |
KEY EXECUTIVES
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Name : |
Mr. Kedar Managaonkar |
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Designation : |
Plant Controller |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
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Names of Shareholders |
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No. of Shares |
|
Georg Fischer AG, Switzerland |
|
19847999 |
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Georg Fischer Piping Systems Limited, Switzerland |
|
1690000 |
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Dominique Andre Van Ackere |
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1 |
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Total |
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21538000 |
AS ON 29.09.2017
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Equity Share
Break up |
Percentage |
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Category |
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Promoters – [Individual/Hindu Undivided Family – Foreign national
(other than NRI)] |
0.00000464 |
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Promoters – [Bodies corporate] |
99.99999536 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
M.H. Dalal and Associates Chartered Accountants |
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Address : |
301/308, Balaji Darshan, Tilak Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
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PAN No.: |
AAGFM5000Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Georg Fischer AG, Switzerland |
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Other Related
Party: |
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CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
21770000 |
Equity Shares |
INR 10/- each |
INR 217.700 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
21538000 |
Equity Shares |
INR 10/- each |
INR 215.380 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
215.380 |
215.380 |
215.380 |
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(b) Reserves &
Surplus |
8.942 |
(21.901) |
(42.428) |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
224.322 |
193.479 |
172.952 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
342.991 |
301.248 |
170.722 |
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(b) Deferred tax
liabilities (Net) |
5.802 |
5.148 |
3.717 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities
(3) |
348.793 |
306.396 |
174.439 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
336.350 |
363.369 |
330.792 |
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(c) Other current
liabilities |
41.967 |
37.726 |
7.629 |
|
(d) Short-term provisions |
41.877 |
28.015 |
30.182 |
|
Total Current Liabilities
(4) |
420.194 |
429.110 |
368.603 |
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TOTAL |
993.309 |
928.985 |
715.994 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
276.878 |
186.263 |
155.599 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
22.996 |
3.458 |
|
(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 |
14.756 |
14.796 |
7.513 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
291.634 |
224.055 |
166.570 |
|
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(2) Current assets |
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
183.893 |
191.549 |
211.569 |
|
(c) Trade receivables |
357.532 |
317.321 |
232.625 |
|
(d) Cash and cash
equivalents |
89.131 |
157.584 |
67.417 |
|
(e) Short-term loans and
advances |
71.119 |
38.476 |
37.813 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
701.675 |
704.930 |
549.424 |
|
|
|
|
|
|
TOTAL |
993.309 |
928.985 |
715.994 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
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|
Income |
1110.184 |
1038.799 |
834.677 |
|
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Other Income |
41.753 |
8.549 |
0.968 |
|
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TOTAL |
1151.937 |
1047.348 |
835.645 |
|
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Less |
EXPENSES |
|
|
|
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|
Cost of Materials
Consumed |
120.174 |
98.927 |
80.356 |
|
|
Purchases of
Stock-in-Trade |
780.022 |
735.088 |
602.558 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.499) |
(0.368) |
14.869 |
|
|
Employees benefits
expense |
58.245 |
37.624 |
41.072 |
|
|
Other expenses |
116.486 |
93.436 |
55.831 |
|
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TOTAL |
1073.428 |
964.707 |
794.686 |
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PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
78.509 |
82.641 |
40.959 |
|
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|
|
|
|
Less |
FINANCIAL EXPENSES |
15.671 |
40.678 |
5.739 |
|
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|
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|
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
62.838 |
41.963 |
35.220 |
|
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|
|
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|
Less |
DEPRECIATION/
AMORTISATION |
20.068 |
14.005 |
13.260 |
|
|
|
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|
PROFIT/ (LOSS) BEFORE TAX |
42.770 |
27.958 |
21.960 |
|
|
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|
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|
Less |
TAX |
11.954 |
7.431 |
1.170 |
|
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|
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|
PROFIT/ (LOSS) AFTER TAX
|
30.816 |
20.527 |
20.790 |
|
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|
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|
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|
|
Earnings / (Loss) Per
Share (INR) |
1.43 |
0.95 |
0.97 |
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 |
|
Net cash flows from (used in) operations |
(7.021) |
39.679 |
46.627 |
|
Net cash flows from (used in) operating activities |
(7.021) |
39.679 |
46.627 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
117.55 |
111.50 |
101.73 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.11 |
3.27 |
3.59 |
|
|
|
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|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
136.38 |
159.03 |
176.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.43 |
0.43 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.28 |
0.39 |
0.26 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.79 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.53 |
1.56 |
0.99 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.87 |
2.22 |
2.13 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.23 |
1.08 |
0.92 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
5.01 |
2.03 |
7.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
2.78 |
1.98 |
2.49 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.10 |
2.21 |
2.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
13.74 |
10.61 |
12.02 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.67 |
1.64 |
1.49 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.23 |
1.20 |
0.92 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.23 |
0.21 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.59 |
1.40 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.67 |
1.64 |
1.49 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
215.380 |
215.380 |
215.380 |
|
Reserves & Surplus |
(42.428) |
(21.901) |
8.942 |
|
Net
worth |
172.952 |
193.479 |
224.322 |
|
|
|
|
|
|
Long Term borrowings |
170.722 |
301.248 |
342.991 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
170.722 |
301.248 |
342.991 |
|
Debt/Equity
ratio |
0.987 |
1.557 |
1.529 |
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
|
834.677 |
1038.799 |
1110.184 |
|
|
|
24.455 |
6.872 |
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
|
834.677 |
1038.799 |
1110.184 |
|
Profit |
20.790 |
20.527 |
30.816 |
|
|
2.49% |
1.98% |
2.78% |
LEGAL
CASE
|
Case Details |
|
Bench:-Bombay |
||
|
|
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Presentation Date:- |
14/03/2016 |
||||||||
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|||||||||
|
Lodging No.:- |
CEXAL/101/2016 |
Filing Date:- |
14/03/2016 |
Reg. No.:- |
CEXA/264/2017 |
Reg. Date:- |
27/12/2017 |
||
|
|
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Petitioner:- |
THE COMMISSIONER OF SERVICE TAX MUMBAI VII |
Respondent:- |
GEORG FISCHER PIPING SYSTEMS PRIVATE
LIMITED |
|
|
|
Petn.Adv.:- |
Sham walve (I3200) |
|
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
CENTRAL EXCISE APPEAL (CEXA) |
|
Next Date:- |
31/01/2018 |
Stage:- |
FOR ADMISSION |
|
Coram:- |
HON'BLE SHRI JUSTICE M.S. SANKLECHA |
|
HON'BLE SHRI JUSTICE R. I. CHAGLA |
|
Last Date:- |
17/09/2016 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
|
|
Act :- |
Central Excise & Salt Act |
Under Section:- |
35G |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF AFFAIRS
The Company is engaged in the business in India or elsewhere as manufactures, purchasers, sellers, dealers, , contractors, factors, agents and suppliers of piping systems in metals, plastics, PVC Pipes, moulded industrial articles, materials and components, tubing, films, rolls strings and or their auxiliary and allied plastic products, extrusion process, injection moulding, compressor moulding, vaccum forming, housewares, articles, jointing pipes. There has been no change in the business of the Company during the financial year ended 31st March, 2017.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
334.250 |
292.117 |
|
Total |
334.250 |
292.117 |
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G28094571 |
100063389 |
HDFC BANK LIMITED |
09/08/2016 |
- |
- |
585000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
G04061966 |
100028133 |
HDFC BANK LIMITED |
29/01/2016 |
- |
- |
5500000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
3 |
C81970790 |
10626646 |
FORD CREDIT INDIA PRIVATE LIMITED |
05/12/2015 |
- |
- |
900000.0 |
S. P. KOIL POST, CHENGALPATTU, CHENNAI – 603204, TAMILNADU, INDIA |
|
4 |
G04058434 |
100028126 |
HDFC BANK LIMITED |
04/12/2015 |
- |
- |
1059000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
5 |
G04063103 |
100028136 |
HDFC BANK LIMITED |
04/12/2015 |
- |
- |
1027000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
6 |
G04064408 |
100028143 |
HDFC BANK LIMITED |
04/12/2015 |
- |
- |
1059000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
FIXED ASSETS:
Tangible
Assets
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixture
·
Computer Equipment
·
Vehicles
·
Office Equipment
·
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 64.27 |
|
|
1 |
INR 79.52 |
|
Euro |
1 |
INR 89.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.