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|
|
MIRA INFORM REPORT
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Report No. : |
491456 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
POSCO – INDIA PUNE PROCESSING CENTER PRIVATE LIMITED (w.e.f.
19.05.2008) |
|
|
|
|
Formerly Known
As : |
POS-INDIA STEEL PROCESSING CENTRE PRIVATE LIMITED |
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Registered
Office : |
Plot No. A-9, Floriculture Park, Talegaon Industrial Area (MIDC), Village: Navlakh,
Umbre Taluka, District: Maval, Pune – 410507, Maharashtra |
|
Tel. No.: |
91-2114-308100 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2016 |
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|
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Date of
Incorporation : |
24.11.2005 |
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|
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Com. Reg. No.: |
11-021580 |
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Capital
Investment / Paid-up Capital : |
INR 1150.625 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U27107PN2005PTC021580 |
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IEC No.: |
3105019944 |
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GSTIN/UIN : |
27AADCP7555R1ZJ |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP09880D |
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|
|
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PAN No.: [Permanent Account No.] |
AADCP7555R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in to the business of import and processing of hot and cold roll steel. [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 “Posco Company Limited”, South Korea and
was incorporated on 24th November 2005. The company is engaged in
to the business of import and processing of hot and cold roll steel. Management has failed to file its financials with the Registrar of
Companies for the FY 2017. As per the financial record of 2016, the company possesses above
average operational performance and has reported profit during the year under
review. The company has able to wipe off some of its accumulated losses
during FY, 2016 on account of profitably operations. The company’s average financial profile is reflected by its average
solvency indicators due to moderately leveraged balance sheet profile along
with sound capital base and moderate liquidity position. Rating also takes into consideration strong financial, managerial and
technical support that company receives from its parent entity backed by its
well experience management team along with diversified business networks and
client base. However, rating strength is partially offset by operating in highly
competitive and fragmented steel industry marked by its susceptibility to
cyclicality inherent in its end-user industry and moderately large working
capital requirements. Payment seems to be slow but correct. In view of the 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
March 2017 |
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 09.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-2114-308100)
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. A-9, Floriculture Park, Talegaon Industrial Area (MIDC), Village: Navlakh,
Umbre Taluka, District: Maval, Pune – 410507, Maharashtra, India |
|
Tel. No.: |
91-2114-308100 |
|
Fax No.: |
91-2114-308146/ 7 |
|
E-Mail : |
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|
Website : |
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|
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Factory 2 : |
Plot No. 288, TSIIC, Phase – III, Pashamylaram, Hyderabad – 502307, Telangana, India |
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Processing Facility
: |
Located At : · Pune · Bangalore · Hyderabad |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Gwoang Gug Moon |
|
Designation : |
Managing director |
|
Address : |
Hotel Hyatt Regency Pune, Weikfield IT Park, Nagar Road, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1965 |
|
Date of Appointment : |
19.02.2015 |
|
DIN No.: |
07102187 |
|
|
|
|
Name : |
Jae Doo Sung
Woo
Rho |
|
Designation : |
Director |
|
Address : |
B-6/7, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
30.12.1966 |
|
Date of Appointment : |
02.05.2006 |
|
DIN No.: |
01770910 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Digambar Kumbhare |
|
Designation : |
Company Secretary |
|
Address : |
A4/ 403, Shivsagar City, Anand Nagar, Sinhagad Road, Pune – 411051,
Maharashtra, India |
|
Date of Birth/Age : |
14.12.1982 |
|
Date of Appointment : |
21.02.2013 |
|
PAN No.: |
APGPK7935P |
|
|
|
|
Name : |
Mrs. Rakhi |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 15.02.2016
|
Names of Shareholders |
No. of Shares |
% of holding |
|
Posco Company Limited Korea |
74787132 |
65.00 |
|
LG International Corporation, Korea |
40275330 |
35.00 |
|
Total |
115062462 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.12.2015
|
Category |
Percentage |
|
Promoters [Bodies corporate] |
65.00 |
|
Public/Other than promoters [Body corporate] |
35.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in to the business of import and
processing of hot and cold roll steel. [Registered Activity] |
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Products : |
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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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Auditors : |
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|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
701-703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
|
PAN
No.: |
AADFB6889R |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
· POSCO Company Limited, Korea |
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Fellow Subsidiaries
: |
· POSCO Steel Service and Sales Company · POSCO Asia Company Limited · POSCO India Delhi Steel Processing Company Private Limited · POSCO Investments Company Limited · POSCO (Guangdong) Steel Company Limited · POSCO ICT Company Limited · POSCO South Asia Company Limited · POSCO Maharashtra Steel Private Limited · Daewoo International Corporation · POSCO India Ahmedabad Steel Processing Center Private Limited · POSCO India Chennai Steel Processing Private Limited · POSCO India Private Limited · POSCO Processing and Service Company Limited · POSCO Electrical Steel India Private Limited · POSCO Group University |
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|
Subsidiary of the
Company : |
· POSCO India Steel Distribution Centre Private Limited CIN No.: U51909PN2009PTC133416 |
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|
Shareholder having
Significant Influence : |
· LG International Corporation, South Korea |
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|
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Associates of the
Company : |
· POSCO TMC India Private Limited CIN No.: U28910PN2009PTC135005 |
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Joint venture of
the company : |
· POSCO Poggen Amp Electrical Steel Private Limited CIN No.: U31100GJ2010PTC063371 |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115062462 |
Equity Shares |
INR 10/- each |
INR 1150.625 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115062462 |
Equity Shares |
INR 10/- each |
INR 1150.625
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1150.625 |
1150.625 |
1150.625 |
|
(b) Reserves & Surplus |
(529.974) |
(620.741) |
(702.797) |
|
(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) |
620.651 |
529.884 |
447.828 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.584 |
83.006 |
12.468 |
|
Total Non-current
Liabilities (3) |
24.584 |
83.006 |
12.468 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
4048.694 |
3489.988 |
4500.778 |
|
(b) Trade
payables |
5050.307 |
5790.252 |
4576.762 |
|
(c) Other
current liabilities |
87.344 |
71.629 |
107.765 |
|
(d) Short-term
provisions |
95.447 |
1.180 |
0.848 |
|
Total Current
Liabilities (4) |
9281.792 |
9353.049 |
9186.153 |
|
|
|
|
|
|
TOTAL |
9927.027 |
9965.939 |
9646.449 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1404.264 |
1404.957 |
1489.098 |
|
(ii)
Intangible Assets |
4.581 |
6.518 |
7.223 |
|
(iii)
Capital work-in-progress |
0.401 |
0.000 |
0.243 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
260.915 |
260.915 |
260.915 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
84.238 |
61.166 |
71.391 |
|
(e) Other
Non-current assets |
9.924 |
71.328 |
0.000 |
|
Total Non-Current
Assets |
1764.323 |
1804.884 |
1828.870 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
3814.674 |
3818.879 |
3047.556 |
|
(d) Cash
and cash equivalents |
3817.125 |
3692.373 |
4267.541 |
|
(e) Short-term
loans and advances |
41.635 |
118.748 |
67.670 |
|
(f) Other
current assets |
489.270 |
531.055 |
434.812 |
|
Total
Current Assets |
8162.704 |
8161.055 |
7817.579 |
|
|
|
|
|
|
TOTAL |
9927.027 |
9965.939 |
9646.449 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21540.792 |
20054.924 |
15331.213 |
|
|
|
Other Income |
78.076 |
68.927 |
76.528 |
|
|
|
TOTAL |
21618.868 |
20123.851 |
15407.741 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
20230.645 |
18976.412 |
14427.336 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
28.696 |
(38.176) |
(83.189) |
|
|
|
Employees benefits expense |
215.880 |
185.784 |
157.692 |
|
|
|
Other expenses |
567.391 |
481.654 |
1156.210 |
|
|
|
TOTAL |
21042.612 |
19605.674 |
15658.049 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
576.256 |
518.177 |
(250.308) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
292.429 |
321.577 |
237.458 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
283.827 |
196.600 |
(487.766) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
180.849 |
109.383 |
77.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
102.978 |
87.217 |
(564.772) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.211 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
90.767 |
87.217 |
(564.772) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
167.408 |
110.229 |
|
|
TOTAL EARNINGS |
0.000 |
167.408 |
110.229 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8199.141 |
8403.480 |
9700.081 |
|
|
|
Stores & Spares |
0.000 |
3.661 |
1.640 |
|
|
|
Capital Goods |
101.681 |
0.000 |
3.792 |
|
|
TOTAL IMPORTS |
8300.822 |
8407.141 |
9705.513 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
0.79 |
0.76 |
(4.91) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(110.880) |
(1393.171) |
1612.566 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
64.64 |
69.50 |
72.56 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.65 |
5.25 |
5.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
91.12 |
111.37 |
115.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.41 |
0.37 |
(0.17) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.94 |
0.94 |
0.95 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
6.52 |
6.59 |
10.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
14.95 |
17.65 |
20.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.27 |
2.66 |
3.34 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.97 |
1.61 |
(1.05) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.42 |
0.43 |
(3.68) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.91 |
0.88 |
(5.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.62 |
16.46 |
(126.11) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.88 |
0.87 |
0.85 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.88 |
0.87 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.06 |
0.05 |
0.05 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.52 |
3.03 |
3.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.88 |
0.87 |
0.85 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1150.625 |
1150.625 |
1150.625 |
|
Reserves & Surplus |
(702.797) |
(620.741) |
(529.974) |
|
Net
worth |
447.828 |
529.884 |
620.651 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
4500.778 |
3489.988 |
4048.694 |
|
Total
borrowings |
4500.778 |
3489.988 |
4048.694 |
|
Debt/Equity
ratio |
10.050 |
6.586 |
6.523 |
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 |
15331.213 |
20054.924 |
21540.792 |
|
|
|
30.811 |
7.409 |
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 |
15331.213 |
20054.924 |
21540.792 |
|
Profit/ (Loss) |
(564.772) |
87.217 |
90.767 |
|
|
(3.68%) |
0.43% |
0.42% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
External Agency Rating, if available |
Yes |
|
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 |
STATE OF COMPANY’S AFFAIRS
During the period, the Company has achieved satisfactory increase in the Revenues, which has increased by 7% compare to the Previous Year’s Revenues. Net Profit for the Year has also increased by 4% amounting to INR 90.800 Million. Accordingly, the Accumulated Losses of the Company decreased proportionately.
The Directors are optimistic that in future also the Company can achieve similar Sales and Financial Results, provided the overall economical conditions, in India as well as globally, keep on improving.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
990.000 |
0.000 |
|
Rupee term loans from banks |
3058.694 |
3489.988 |
|
|
|
|
|
Total |
4048.694 |
3489.988 |
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.