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|
MIRA INFORM REPORT
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Report No. : |
491118 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADAMA INDIA PRIVATE LIMITED (w.e.f 10.07.2014) |
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Formerly Known
As : |
MAKHTESHIM-AGAN INDIA PRIVATE LIMITED |
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Registered
Office : |
DS-13, IKP Knowledge Park, Sy. No. 542/2, Genome Valley,
Turkapally, Shameerpet, Ranga Reddy, Hyderabad – 500078, Telangana |
|
Tel. No.: |
91-40-40361300/40361340 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
27.07.1998 |
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Com. Reg. No.: |
36-072870 |
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Capital
Investment / Paid-up Capital : |
INR 56.900 Million |
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CIN No.: [Company Identification
No.] |
U24110TG1998PTC072870 |
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IEC No.: |
Not Divulged |
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GSTIN/UIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCM8797N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacture and supply of agricultural crop protection 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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 190000 |
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Status : |
Moderate |
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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 “Adama Agriculture B.V., Netherlands” and was incorporated in the year 1998. Management of the company has not filed its financials of 2017 with government department. As per available financials of 2016, the company has increased its revenue from operations but reported losses. Rating takes into consideration moderate financial profile of the company marked by low reserves level. Further, rating constrained on account of high debt balance sheet during the year and intense competition from the industry. However, rating weakness is partially offset by support received to the company from its holding entity. Trade relations are reported as fair. Business is active. Payments are slow but correct. The company can be considered for business dealing with some caution. |
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
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 10.02.2018
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 (91-40-40361300/40361340)
LOCATIONS
|
Registered Office : |
DS-13, IKP Knowledge Park, Sy. No. 542/2, Genome Valley,
Turkapally, Shameerpet, Ranga Reddy, Hyderabad – 500078, Telangana, India |
|
Tel. No.: |
91-40-40361300/40361340 |
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Fax No.: |
91-40-40361301 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. D-2/Ch. 1, GIDC Estate, Dahej, Vagra Dahej, District
Bharuch-392110, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Josef Goldshmidt |
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Designation : |
Director |
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Address : |
Halon 23, Moshav Gimzo – 73130 Israel |
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Date of Birth/Age : |
03.12.1951 |
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Qualification: |
MSC |
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Date of Appointment : |
07.01.2015 |
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PAN No.: |
ARNPG5661M |
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DIN No.: |
01863187 |
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Other Directorship:
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Name : |
Mr. Narahari Pullaiah |
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Designation : |
Director |
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Address : |
29-1465/4/5, Kakatiya Nagar, Naredmet, Secunderabad, Hyderabad –
5000569, Telangana, India |
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Date of Birth/Age : |
01.02.1967 |
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Qualification: |
PHD - Plant pathology |
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Date of Appointment : |
29.09.2009 |
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PAN No.: |
AAXPP1741J |
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DIN No.: |
02683700 |
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Other Directorship:
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Name : |
Mr. Balavenkatarama Prasad Suryadevara |
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Designation : |
Director |
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Address : |
8-3-191/267/3 A/ 86B, Sarojini Vengalrao Nagar, Hyderabad – 500038,
Telangana, India |
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Date of Birth/Age : |
23.08.1960 |
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Date of Appointment : |
29.09.2009 |
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PAN No.: |
ADKPS8400P |
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DIN No.: |
02699949 |
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|
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Name : |
David Ben Simon |
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Designation : |
Director |
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Address : |
14 Sabchi Lehavim Na Il |
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Date of Birth/Age : |
11.08.1960 |
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Date of Appointment : |
29.09.2016 |
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DIN No.: |
05149454 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Adama Agriculture B.V., Netherlands (Formerly knowns as Makhteshim Agan Holding B.V.) |
|
5697098 |
|
Adama Registrations B.V., Netherlands (Formerly knowns as Makhteshim Agan Holland B.V.) |
|
2 |
|
Total |
|
5697100 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2016
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture and supply of agricultural crop protection 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)
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Auditors : |
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Name : |
BSR and Associates LLP Chartered Accountants |
|
Address : |
8-2-628/2, Reliance Hunsafar, 4th Floor, Road No 11, Banjara Hills, Hyderabad-500034, Telangana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company:
(AS ON 31.03.2016): |
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Ultimate Holding
Company (AS ON 31.03.2016): |
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Wholly owned subsidiary
Company (AS ON 31.03.2016): |
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Enterprises which are owned, or have
significant influence of or are partners with Key Management personnel and their relatives (AS ON 31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5697100 |
Equity Shares |
INR 10/- each |
INR 56.900
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
56.900 |
56.900 |
56.970 |
|
(b) Reserves &
Surplus |
9.930 |
181.140 |
154.270 |
|
(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) |
66.830 |
238.040 |
211.240 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3079.180 |
3079.180 |
3079.180 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
138.920 |
121.310 |
105.340 |
|
(d) long-term provisions |
15.330 |
6.160 |
8.910 |
|
Total Non-current
Liabilities (3) |
3233.430 |
3206.650 |
3193.430 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1081.090 |
1517.350 |
1440.680 |
|
(b) Trade payables |
4832.470 |
3995.020 |
2625.250 |
|
(c) Other current
liabilities |
1119.100 |
939.740 |
845.100 |
|
(d) Short-term provisions |
612.410 |
1042.720 |
854.790 |
|
Total Current Liabilities
(4) |
7645.070 |
7494.830 |
5765.820 |
|
|
|
|
|
|
TOTAL |
10945.330 |
10939.520 |
9170.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1522.050 |
1575.780 |
1671.910 |
|
(ii) Intangible Assets |
20.990 |
16.480 |
20.760 |
|
(iii) Capital
work-in-progress |
1.800 |
8.730 |
103.280 |
|
(iv) Intangible assets
under development |
2.790 |
2.790 |
2.790 |
|
(b) Non-current
Investments |
11.160 |
11.160 |
11.160 |
|
(c) Deferred tax assets
(net) |
88.310 |
9.460 |
24.450 |
|
(d) Long-term Loan and Advances |
139.180 |
146.620 |
142.970 |
|
(e) Other Non-current
assets |
2.050 |
2.050 |
0.000 |
|
Total Non-Current Assets |
1788.330 |
1773.070 |
1977.320 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
104.720 |
103.920 |
93.000 |
|
(b) Inventories |
4540.670 |
4556.260 |
3407.900 |
|
(c) Trade receivables |
3801.410 |
3816.450 |
2923.830 |
|
(d) Cash and cash
equivalents |
359.850 |
410.590 |
552.980 |
|
(e) Short-term loans and advances |
349.820 |
278.670 |
202.480 |
|
(f) Other current assets |
0.530 |
0.560 |
12.980 |
|
Total Current Assets |
9157.000 |
9166.450 |
7193.170 |
|
|
|
|
|
|
TOTAL |
10945.330 |
10939.520 |
9170.490 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
12680.220 |
10522.970 |
9291.430 |
|
|
Other Income |
222.500 |
201.520 |
146.750 |
|
|
TOTAL |
12902.720 |
10724.490 |
9438.180 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
8256.160 |
6733.620 |
5258.040 |
|
|
Purchases of
Stock-in-Trade |
1628.750 |
2152.140 |
2106.340 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
137.580 |
(874.820) |
(522.200) |
|
|
Employees benefits
expense |
629.780 |
503.560 |
432.440 |
|
|
Expenditure on
production, transportation and other expenditure pertaining to exploration
and production activities |
0.000 |
0.000 |
8.340 |
|
|
Other expenses |
1633.520 |
1469.180 |
1441.700 |
|
|
TOTAL |
12285.790 |
9983.680 |
8724.660 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
616.930 |
740.810 |
713.520 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
733.950 |
565.090 |
382.310 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(117.020) |
175.720 |
331.210 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
133.030 |
124.520 |
111.880 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(250.050) |
51.200 |
219.330 |
|
|
|
|
|
|
|
Less |
TAX |
(78.840) |
24.330 |
70.940 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(171.210) |
26.870 |
148.390 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
22.720 |
216.080 |
|
|
TOTAL EARNINGS |
NA |
22.720 |
216.080 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
3674.950 |
2694.170 |
|
|
TOTAL IMPORTS |
NA |
3674.950 |
2694.170 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
Basic |
(30.05) |
4.72 |
26.04 |
|
|
Diluted |
(30.05) |
0.86 |
0.86 |
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 |
806.770 |
56.030 |
1243.130 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
805.700 |
(67.310) |
1221.020 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
109.42 |
132.38 |
114.86 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.34 |
2.76 |
3.18 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
178.44 |
164.10 |
130.11 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.14 |
0.16 |
0.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.40 |
0.46 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.98 |
0.97 |
0.96 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
62.25 |
19.31 |
21.40 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
114.40 |
31.49 |
27.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
23.16 |
6.74 |
8.52 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.84 |
1.31 |
1.87 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.35) |
0.26 |
1.60 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.56) |
0.25 |
1.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(256.19) |
11.29 |
70.25 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.20 |
1.22 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.60 |
0.62 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.01 |
0.02 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
73.12 |
80.78 |
79.34 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.20 |
1.22 |
1.25 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
56.970 |
56.900 |
56.900 |
|
Reserves & Surplus |
154.270 |
181.140 |
9.930 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
211.240 |
238.040 |
66.830 |
|
|
|
|
|
|
Long Term borrowings |
3079.180 |
3079.180 |
3079.180 |
|
Short Term borrowings |
1440.680 |
1517.350 |
1081.090 |
|
Total
borrowings |
4519.860 |
4596.530 |
4160.270 |
|
Debt/Equity
ratio |
21.397 |
19.310 |
62.252 |
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
|
9291.430 |
10522.970 |
12680.220 |
|
|
|
13.255 |
20.500 |
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
|
9291.430 |
10522.970 |
12680.220 |
|
Profit |
148.390 |
26.870 |
(171.210) |
|
|
1.60% |
0.26% |
(1.35%) |
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 |
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 |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
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 |
BACKGROUND (AS O 31.03.2016)
Subject was incorporated on 27 July 1998 as a wholly owned subsidiary of Adama Agriculture B.V. under the provisions of the Companies Act, 1956. The Company is engaged in the manufacture and supply of agricultural crop protection products in India.
PERFORMANCE AND OPERATIONS (AS O
31.03.2016)
During the year, the Company has recorded revenue of INR 12680.220 million as against INR.10522.970 million for the preceding year, the revenues of the Company increased by 20.50% on previous year. However, the Company incurred a loss of INR. (171.210) million due to unfavorable climate and the EPS of the Company has been stood at INR. (30.05) per share as against INR 4.72 for the preceding year.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Other loans and advances, others |
3079.180 |
3079.180 |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
1081.080 |
1421.790 |
|
Total |
4160.260 |
4500.970 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C59416404 |
10581021 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
10/03/2015 |
- |
40000000.0 |
6-3-1107 &
1108, RAJ BHAVAN ROADSOMAJI GUDAHYDERABADTG500082IN |
|
2 |
B56400906 |
10235900 |
AXIS BANK LIMITED |
23/07/2010 |
17/08/2012 |
20000000.0 |
CREDIT MANAGEMENT
CENTRE, 5-2-183/184, 8751(OLD),III RD FLOOR, R P ROAD, SECUNDERABADHYDERABADAP500003IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
Intangible assets
- Computer software
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 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
KVT |
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.