|
|
|
MIRA INFORM REPORT
|
Report No. : |
490765 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
UMICORE AUTOCAT INDIA PRIVATE LIMITED |
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|
|
|
Registered
Office : |
102, 1st Floor, C-31 and 32, Naman Centre, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-9822016414 (Mr. Sudipto Basu) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.11.2008 |
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Com. Reg. No.: |
11-188480 |
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Capital
Investment / Paid-up Capital : |
INR 5.979 Million |
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|
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CIN No.: [Company Identification
No.] |
U34101MH2008PTC188480 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AABCU0407H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Subject manufactures/trades and sells automotive catalyst and is also engaged in the business of providing administration, technical and sales support services. (Registered activity) |
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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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Umicore International SA, Lucembourg” and
was incorporated in the year 2008. For the financial year 2017, the company has achieved revenue growth
of 8.36% as compared to the previous year but has incurred operational loss. The sound financial risk profile of the company is marked by adequate
net worth base along with negligible debt balance sheet profile. Rating also takes account the strong financial and managerial support
that company receives from its holding entity backed by its well experience
management team. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Ravindra Nath |
|
Designation : |
Director |
|
Contact No.: |
91-9822016414 |
|
Date : |
07.02.2018 |
Tel. No.: 91-22-66275656 Ringing
LOCATIONS
|
Registered Office : |
102, 1st Floor, C-31 and 32, Naman Centre, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66275656 |
|
Mobile No.: |
91-9822016414 (Mr. Sudipto Basu) |
|
Fax No.: |
91-22-22881297 |
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E-Mail : |
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|
Website : |
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|
|
|
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Pune Office : |
Globle Trade Centre, 1/1, Rambagh Colony, LBS Road, Navi Peth, Pune - 411030, Maharashtra, India |
|
Tel. No.: |
91-20-24320662 |
|
Fax No.: |
91-20-24325260 |
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|
|
|
Shirwal Plant: |
Plot No.: 03, Survey No. 1295, 1296, 1122B, 1129B, 1140, Village Mauje Shirwal, Taluka – Khandala, District – Satara – 412801, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Ralph Konrad Kiessling |
|
Designation : |
Director |
|
Address : |
House No.259, Jiu Shi Western Suburban Garden, No. 228 Xie Wei Road, Shanghai, 201702, China |
|
Date of Birth/Age : |
10.04.1965 |
|
Qualification : |
Ph.D (Chemical Engineering) |
|
PAN No.: |
CSFPK2105M |
|
Date of Appointment : |
06.01.2010 |
|
DIN No.: |
02874279 |
|
|
|
|
Name : |
Ravindranath Kasargod Pattanshetty |
|
Designation : |
Director |
|
Address : |
A1 - 601, Nandan Prospera, Balewadi Behind D Mart, Baner, Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1970 |
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Qualification : |
MBA, B.E. |
|
Date of Appointment : |
31.03.2011 |
|
PAN No.: |
ACKPK6184B |
|
DIN No.: |
03471111 |
|
|
|
|
Name : |
Mrs. Suman Kumar Bal |
|
Designation : |
director |
|
Address : |
Plot No. 67, Flat No. 904, Sector 19, Airoli, Navi Mumbai – 400708, Maharashtra, India |
|
Date of Appointment : |
18.01.2013 |
|
DIN No.: |
15.09.2017 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Umicore International (formerly known as Umicore Finance Luxembourg), Luxembourg |
|
597880 |
|
Umicore Long Term Finance, Belgium |
|
10 |
|
Total |
|
597890 |
LIST OF ALLOTTEES
As on 11.10.2017
|
Names of Shareholders |
|
No. of Shares |
|
Umicore International SA |
|
87785 |
|
Total |
|
87785 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject manufactures/trades and sells automotive catalyst and is also engaged in the business of providing administration, technical and sales support services. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
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Selling : |
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PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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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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Facilities : |
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Auditors : |
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|
Name : |
K. I. Mehta and Company Chartered Accountants |
|
Address : |
311 Vivek, Building No. 12, New Mig Colony, Roop Nagar (Kher Nagar) , Bandra (East), Mumbai-400051, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGPM5953L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Umicore International SA, Luxembourg |
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|
Ultimate Holding
Company: |
Umicore S.A, Belgium |
|
|
|
|
Fellow Subsidiary
company : |
U28112MH2009PTC191646
|
CAPITAL STRUCTURE
After 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
INR 10/- each |
INR 7.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
685675 |
Equity Shares |
INR 10/- each |
INR 6.857
Million |
|
|
|
|
|
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
INR 10/- each |
INR 7.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
597890 |
Equity Shares |
INR 10/- each |
INR 5.979
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 |
5.979 |
4.509 |
3.691 |
|
(b) Reserves and Surplus |
946.314 |
485.047 |
781.896 |
|
(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) |
952.293 |
489.556 |
785.587 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
819.573 |
890.826 |
794.459 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.453 |
3.913 |
1.778 |
|
Total Non-current
Liabilities (3) |
823.026 |
894.739 |
796.237 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
676.255 |
484.034 |
0.000 |
|
(b) Trade
payables |
527.750 |
842.795 |
817.693 |
|
(c) Other current
liabilities |
167.971 |
227.209 |
97.439 |
|
(d) Short-term
provisions |
0.238 |
0.204 |
0.253 |
|
Total Current
Liabilities (4) |
1372.214 |
1554.242 |
915.385 |
|
|
|
|
|
|
TOTAL |
3147.533 |
2938.537 |
2497.209 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1269.971 |
1338.716 |
1356.524 |
|
(ii)
Intangible Assets |
39.248 |
40.159 |
0.113 |
|
(iii) Tangible assets
capital work-in-progress |
2.940 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
7.303 |
7.703 |
8.564 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1319.462 |
1386.578 |
1365.201 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
681.363 |
716.687 |
547.360 |
|
(c) Trade
receivables |
724.820 |
454.047 |
297.133 |
|
(d) Cash and
bank balances |
47.328 |
102.642 |
141.782 |
|
(e)
Short-term loans and advances |
374.560 |
261.574 |
138.964 |
|
(f) Other
current assets |
0.000 |
17.009 |
6.769 |
|
Total
Current Assets |
1828.071 |
1551.959 |
1132.008 |
|
|
|
|
|
|
TOTAL |
3147.533 |
2938.537 |
2497.209 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2806.095 |
2589.562 |
1758.055 |
|
|
Other Income |
89.427 |
2.394 |
178.898 |
|
|
TOTAL |
2895.522 |
2591.956 |
1936.953 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2268.226 |
1741.212 |
94.935 |
|
|
Purchases of
Stock-in-Trade |
156.124 |
1107.818 |
1650.262 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
39.172 |
(334.911) |
(1.978) |
|
|
Employee benefit expense |
74.533 |
76.361 |
91.930 |
|
|
Expenditure on production, transportation and
Other expenditure pertaining to
exploration and production activities |
0.000 |
0.000 |
0.000 |
|
|
CSR expenditure |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
238.948 |
458.978 |
118.127 |
|
|
Prior period items before tax |
0.000 |
0.000 |
0.000 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
(5.360) |
|
|
Extraordinary items before tax |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
2777.003 |
3049.458 |
1947.916 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
118.519 |
(457.502) |
(10.963) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
85.495 |
41.942 |
32.111 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.024 |
(499.444) |
(43.074) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
84.926 |
82.628 |
15.233 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(51.902) |
(582.072) |
(58.307) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(51.902) |
(582.072) |
(58.307) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
136.906 |
11.475 |
0.000 |
|
|
TOTAL EARNINGS |
136.906 |
11.475 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2141.475 |
1483.003 |
370.901 |
|
|
Components and spare
parts |
142.564 |
1018.312 |
1478.745 |
|
|
Capital Goods |
5.341 |
86.484 |
155.338 |
|
|
TOTAL IMPORTS |
2289.381 |
2587.799 |
2004.984 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(86.81) |
(1291.05) |
(129.33) |
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 |
(605.225) |
(698.869) |
7.316 |
|
Net cash flows from (used in) operating activities |
(603.612) |
(699.024) |
5.092 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
94.28 |
64.00 |
61.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.87 |
5.70 |
5.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
79.46 |
107.97 |
171.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.17 |
(0.64) |
(0.02) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.09 |
(0.33) |
(0.01) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.70 |
0.83 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.57 |
2.81 |
1.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.44 |
3.17 |
1.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.38 |
2.82 |
1.73 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.39 |
(10.91) |
(0.34) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(1.85) |
(22.48) |
(3.32) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets)
* 100) |
% |
(1.65) |
(19.81) |
(2.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(5.45) |
(118.90) |
(7.42) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.33 |
1.00 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.84 |
0.54 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.17 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
250.18 |
304.91 |
215.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.33 |
1.00 |
1.24 |
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 |
3.691 |
4.509 |
5.979 |
|
Reserves & Surplus |
781.896 |
485.047 |
946.314 |
|
Net
worth |
785.587 |
489.556 |
952.293 |
|
|
|
|
|
|
Long-term borrowings |
794.459 |
890.825 |
819.573 |
|
Short term borrowings |
0.000 |
484.034 |
676.255 |
|
Total
borrowings |
794.459 |
1374.859 |
1495.828 |
|
Debt/Equity
ratio |
1.011 |
2.808 |
1.571 |
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 |
1758.055 |
2589.562 |
2806.095 |
|
|
0.000 |
47.297 |
8.362 |
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 |
1758.055 |
2589.562 |
2806.095 |
|
Profit/ (Loss) |
(58.307) |
(582.072) |
(51.902) |
|
|
(3.32
%) |
(22.48
%) |
(1.85
%) |
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 |
Yes |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION:
Subject is a private limited company incorporated in India in November 2008. The Company manufactures/trades and sells automotive catalyst and is also engaged in the business of providing administration, technical and sales support services. The Company has manufacturing plant at Shirwal, Satara and office at Mumbai.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Borrowing from foreign companies |
819.573 |
890.826 |
|
(Repayable at the end of maturity period of 5 years from the date of the disbursement i.e, EURO 11,810,000. Interest is benchmarked at EURIRS 5 year interest rate plus 2.44% payable semi-annuallly.) |
|
|
|
|
|
|
|
Short-term
borrowings |
|
|
|
Other external commercial borrowings |
0.000 |
82.354 |
|
|
|
|
|
Total |
819.573 |
973.18 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
19.806 |
19.044 |
FIXED ASSETS
- Land
- Factory building
- Plant and equipment
- Buildings
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
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 : |
SLK |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
SUJ |
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.