|
|
|
MIRA INFORM REPORT
|
Report No. : |
491064 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOTO INDIA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 101, First Floor, Kamla Executive Park Off Andheri
Kurla Road, MIDC Lane, Andheri East, Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-28325741 / 42 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
23.01.2011 |
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|
|
|
Com. Reg. No.: |
11-212662 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 3500.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120MH2011FTC212662 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT16561G |
|
|
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GSTIN : |
Not Divulged |
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|
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PAN No.: [Permanent Account No.] |
AADCT7270M |
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Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged into the business of Manufacture and Wholesale Trading of Sanitary Wares and Other related Products. [Registered Activity] |
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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)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Toto Asia Oceania Pte Limited, Singapore” having a satisfactory track records. The company was incorporated in the year 2011 and is a trader and importer of sanitary ware accessories and spare parts of the accessories for all kinds of sanitary ware products. As per available financials of 2017, the company has achieved decent growth in its revenue compared to its previous year but has incurred continuous operational losses from last 3 preceding years with negative profit margin at 33.80% in the current year, 86.66% and 28.71% in FY-2016 and FY-2015. The rating derives strength from strong parentage support along with healthy scale of operation leading to decent growth in the revenue over the previous year revenue and fair liquidity profile. This rating strength is partially offset by the negative consolidated reserves resulting in the deterioration of the capital structure of the company over the past few years. However, trade relations are fair. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for the business dealings at usual trade terms and conditions. Note: The Accounting year of the company has been changed from January-December i.e January 2015- March 2016 in line with the provisions of the Companies Act 2013 which prescribe a uniform financial year i.e. April-March. Accordingly subsequent financial year would be April-March every year. |
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 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.
INFORMATION DENIED BY
|
Name : |
Mr. Nitin |
|
Contact No.: |
91-267-6661534 |
|
Date : |
07.02.2017 |
Management non-cooperative [Tel. No.: 91-22-28325741]
LOCATIONS
|
Registered/ Head Office : |
Unit No.101, First Floor, Kamla Executive Park,
Off Andheri Kurla Road, MIDC Lane, Andheri (East), Mumbai – 400059,
Maharashtra, India |
|
Tel. No.: |
91-22-28325741/ 42 |
|
Fax No.: |
91-22-40223719 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory : |
Plot-A, GIDC Phase-II, Halol Industrial
Area, Chandrapura, Halol, Panchmahal, Vadodara – 389350, Gujarat, India |
|
Tel. No.: |
91-267-6661534 |
|
|
|
|
Branch Office : |
Plot No. D-1, Third Floor, Salcon Ras Vilas,
District Centre, New Delhi – 110017, India |
|
Tel. No.: |
91-11-46542421/ 22/ 43177300 |
|
Fax No.: |
91-11-46542430 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr.
Tatsuhiko Yasaka |
|
Designation : |
Managing
director |
|
Address : |
695
Kuranari oaza Yamagamachi, Kitsukicity Oitaprefecture, 8791305, Japan |
|
Date of Birth/Age : |
06.06.1968 |
|
Qualification : |
Bachelors
in Economics |
|
Date of Appointment : |
23.01.2011 |
|
DIN No.: |
03273059 |
|
|
|
|
Name : |
Mr.
Takuya Nakajima |
|
Designation : |
Director |
|
Address : |
9-10-21-106,
Kitami, Setagaya-KU, Tokyo, NA, Japan |
|
Date of Birth/Age : |
22.12.1966 |
|
Date of Appointment : |
07.04.2016 |
|
DIN No.: |
06552075 |
|
|
|
|
Name : |
Mr.
Satoshi Horiuchi |
|
Designation : |
Director |
|
Address : |
7-11-1, Gyoji Yukuhashi-City Fukuoka Na Japan |
|
Date of Birth/Age : |
04.10.1966 |
|
Qualification : |
Bachelor
of Engineering |
|
Date of Appointment : |
30.04.2013 |
|
DIN No.: |
06562152 |
|
|
|
|
Name : |
Kosuke Awashima |
|
Designation : |
Director |
|
Address : |
2chome 13-9-513 Nakacho, Musashino-shi Tokyo-to, Japan Tokyo to
1800006 JP |
|
Date of Birth/Age : |
18.11.1971 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.03.2016 |
|
DIN No.: |
07456138 |
|
|
|
|
Name : |
Reiji Hasuo |
|
Designation : |
Director |
|
Address : |
#901 1-7-41 Kimachi Kokurakita-k Kitakyushu
city 8030851 Japan |
|
Date of Appointment : |
07.04.2016 |
|
DIN No.: |
07485287 |
|
|
|
|
Name : |
Daijiro Nogata |
|
Designation : |
Director |
|
Address : |
2-1795 Moromachi, Nakatsu City Oita, Japan Nakatsu City 8710049 JP |
|
Date of Appointment : |
07.04.2016 |
|
DIN No.: |
07486889 |
|
|
|
|
Name : |
Akira Watai |
|
Designation : |
Director |
|
Address : |
101, 1st Floor, Kamla Executive Park, Off Andheri Kurla Road, MIDC
Lane, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Date of Appointment : |
15.09.2016 |
|
DIN No.: |
07597612 |
KEY EXECUTIVES
|
Name : |
Mr. Harishkumar Shamji
Malsatter |
|
Designation : |
Company Secretary |
|
Address : |
49, Apexa Park, Iskcon Temple Road, Vadodara – 390015,
Gujarat, India |
|
Date of Appointment : |
25.08.2017 |
|
PAN No.: |
CHBPM2132H |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
|
Toto Asia Oceania Pte. Limited,
Singapore |
|
244950000 |
|
Toto Limited, Japan |
|
50000 |
|
Mitsui and company Limited, Japan |
|
105000000 |
|
|
|
|
|
Total |
|
350000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.08.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into the business of Manufacture and Wholesale Trading of Sanitary Wares and Other related Products. [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
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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 : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
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Holding Company : |
Toto Asia Oceania Pte. Limited, Singapore |
|
|
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Ultimate Holding
Company : |
Toto Limited, Japan |
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|
Fellow Subsidiary
Company : |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
Mitsui and Company Limited, Japan |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
INR 10/- each |
INR 3500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
INR 10/- each |
INR 3500.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET
|
|
|
[15
Months] |
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3500.000 |
3500.000 |
3500.000 |
|
(b) Reserves &
Surplus |
(1878.837) |
(1405.339) |
(447.789) |
|
(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) |
1621.163 |
2094.661 |
3052.211 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2405.063 |
2488.550 |
1225.958 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.395 |
|
(d) long-term provisions |
6.202 |
2.843 |
2.304 |
|
Total Non-current
Liabilities (3) |
2411.265 |
2491.393 |
1228.657 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
210.604 |
157.284 |
125.242 |
|
(c) Other current
liabilities |
88.501 |
53.910 |
133.851 |
|
(d) Short-term provisions |
1.492 |
0.668 |
0.558 |
|
Total Current Liabilities
(4) |
300.597 |
211.862 |
259.651 |
|
|
|
|
|
|
TOTAL |
4333.025 |
4797.916 |
4540.519 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3430.161 |
3529.123 |
3734.655 |
|
(ii) Intangible Assets |
0.891 |
2.231 |
3.483 |
|
(iii) Capital
work-in-progress |
5.549 |
26.437 |
1.203 |
|
(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 |
92.786 |
111.560 |
145.581 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3529.387 |
3669.351 |
3884.922 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
368.081 |
328.599 |
219.935 |
|
(c) Trade receivables |
100.496 |
37.873 |
7.126 |
|
(d) Cash and cash
equivalents |
258.885 |
689.091 |
399.116 |
|
(e) Short-term loans and
advances |
66.076 |
62.896 |
22.336 |
|
(f) Other current assets |
10.100 |
10.106 |
7.084 |
|
Total Current Assets |
803.638 |
1128.565 |
655.597 |
|
|
|
|
|
|
TOTAL |
4333.025 |
4797.916 |
4540.519 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 [15 Months] |
31.12.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1302.232 |
1051.227 |
563.667 |
|
|
|
Other Income |
98.477 |
53.722 |
210.934 |
|
|
|
TOTAL |
1400.709 |
1104.949 |
774.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
151.425 |
98.862 |
28.935 |
|
|
|
Purchase of Stock-in-trade |
546.331 |
591.274 |
404.771 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(12.495) |
(79.822) |
(86.499) |
|
|
|
Employee Benefits Expenses |
413.798 |
412.509 |
206.285 |
|
|
|
Other Expenses |
515.096 |
735.692 |
326.385 |
|
|
|
TOTAL |
1614.155 |
1758.515 |
879.877 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(213.446) |
(653.566) |
(105.276) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26.502 |
18.054 |
5.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(239.948) |
(671.620) |
(110.379) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
233.550 |
285.931 |
111.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(473.498) |
(957.551) |
(222.361) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(473.498) |
(957.551) |
(222.361) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
(1.35) |
(2.74) |
(0.65) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 [15 Months] |
31.12.2014 |
|
Current Maturities of Long term debt |
32.765 |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(320.045) |
(647.553) |
(442.971) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 [15 Months] |
31.12.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
28.17 |
13.15 |
4.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
12.96 |
27.76 |
79.10 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
110.17 |
83.18 |
105.40 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.58) |
(1.99) |
(0.48) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.06) |
(0.18 |
(0.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 [15 Months] |
31.12.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.62 |
0.56 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.48 |
1.19 |
0.40 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.19 |
0.10 |
0.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.12 |
1.70 |
1.23 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(8.05) |
(36.20) |
(20.63) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 [15 Months] |
31.12.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(36.36) |
(91.09) |
(39.45) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(10.93) |
(19.96) |
(4.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(29.21) |
(45.71) |
(7.29) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 [15 Months] |
31.12.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.67 |
5.33 |
2.52 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.45 |
3.78 |
1.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.44 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.69 |
0.71 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.67 |
5.33 |
2.52 |
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 |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
3500.000 |
3500.000 |
3500.000 |
|
Reserves & Surplus |
(447.789) |
(1405.339) |
(1878.837) |
|
Net worth |
3052.211 |
2094.661 |
1621.163 |
|
|
|
|
|
|
long-term borrowings |
1225.958 |
2488.550 |
2405.063 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1225.958 |
2488.550 |
2405.063 |
|
Debt/Equity ratio |
0.402 |
1.188 |
1.484 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
563.667 |
1051.227 |
1302.232 |
|
|
|
86.498 |
23.877 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
563.667 |
1051.227 |
1302.232 |
|
Profit |
(222.361) |
(957.551) |
(473.498) |
|
|
(39.45%) |
(91.09%) |
(36.36%) |
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 |
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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixture
·
Vehicles
·
Office 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 64.15 |
|
|
1 |
INR 89.50 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYO |
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.