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MIRA INFORM REPORT
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Report No. : |
492150 |
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Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
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Name : |
AFTON CHEMICAL INDIA PRIVATE LIMITED (w.e.f. 02.01.2018) |
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Formerly Known
As : |
AFTON CHEMICAL HYDERABAD PRIVATE LIMITED (w.e.f. 30.03.2012) POLARTECH INDIA PRIVATE LIMITED (w.e.f. 15.12.1999) FUTECH CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 197, Phase II, Cherlapally, Hyderabad – 500051, Telangana |
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Tel. No.: |
91-40-44768937 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
19.04.1995 |
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Com. Reg. No.: |
36-020052 |
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Capital
Investment / Paid-up Capital : |
INR 49.000 Million |
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CIN No.: [Company Identification
No.] |
U24231TG1995PTC020052 (New) U24231AP1995PTC020052 (Old) |
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IEC No.: |
0998008672 |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AADCP3112G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business
of Manufacturing Metal Working Fluids and Lubes. (Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 1092000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Afton Chemical India Private Limited is a wholly owned subsidiary of
“Afton Chemical UK Holdings Private Limited”. United Kingdom. The company was
incorporated in the year 1995 and is based in Hyderabad, Telangana. It is an established
company having good track record. Management of the company has not filed its financials with the
government department for the year 2017. As per available financial of 2016, the company has witnessed a
healthy growth in its revenue and has achieved decent profit margin at 7.95%
(approximately) The company possesses sound financial profile marked by strong net
worth base along with debt free balance sheet of the company. The company also derives strength form its holding entity and its
experienced management team. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. In view of the 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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 16.02.2018
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. Nageshwaran Anandam |
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Designation : |
Nominee Director |
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Contact No.: |
91-9949027318 |
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Date : |
15.02.2018 |
LOCATIONS
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Registered Office : |
Plot No. 197, IDA Phase II, Cherlapally, Hyderabad-500051, Telangana,
India |
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Tel. No.: |
91-40-44768937 |
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Mobile No.: |
91-9949027318 (Mr. Nageshwaran) |
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Fax No.: |
91-40-44768930 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Locality : |
Commercial |
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Factory : |
C/o LSR Speciality Oils Private Limited, Plot No.G-13/5 to
G-13/7/1, G-13/21,MIDC Area, Taloja, Raigad-410208, Maharashtra, India |
DIRECTORS
As on 31.03.201
|
Name : |
Mr. Chandrashekar Kandamangalam Subramanian |
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Designation : |
Director |
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Address : |
407, Krishnaveni Emerald, As Rao Nagar, Rukmini Puri, Ecil, Hyderabad-500062, Telangana, India |
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Date of Birth/Age : |
23.05.1959 |
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Date of Appointment : |
30.09.2009 |
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PAN No.: |
AADPC9822F |
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DIN No.: |
02631309 |
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Other Directorship:
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Name : |
Mr. Nageshwaran Anandam |
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Designation : |
Nominee Director |
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Address : |
New No-123, Old No-61, Santhikooda Street, Virudhunagar District, Virudhunagar, 626001, Tamilnadu, India |
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Date of Birth/Age : |
31.12.1975 |
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Date of Appointment : |
23.09.2013 |
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DIN No.: |
06697952 |
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Name : |
Mr. Andrew David Walker |
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Designation : |
Nominee Director |
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Address : |
Chez Nou, Ashlane, Elstead, Godalming, GU86ET, United Kingdom |
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Date of Appointment : |
29.05.2014 |
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DIN No.: |
06883279 |
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MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
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No. of Shares |
|
Afton Chemical UK Holdings Limited |
|
599999 |
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Afton Chemical Limited (Nominee share holder on behalf of Afton Chemical UK Holdings Limited) |
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1 |
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Total |
|
600000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.11.2017
|
Category |
Percentage |
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Promoters (Body corporate) |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in the
business of Manufacturing Metal Working fluids and lubes. (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 : |
Not Divulged |
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Bankers : |
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Auditors : |
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Name : |
Price Waterhouse LLP Chartered Accountants |
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Address : |
Plot No:-77/A, 8-2-624/A, 3rd floor, Road No-10 ,Banjarahills, Hyderabad- 500003, Telangana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFP3698A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company (As
on 2017): |
Afton Chemical UK Holdings Limited, UK |
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Ultimate Holding
company (As on 31.03.2016): |
Afton Chemical Corporation, USA |
CAPITAL STRUCTURE
As on 27.11.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650000 |
Equity Shares |
INR 10/- each |
INR 6.500 Million |
|
14400000 |
Preference Shares |
INR 10/- each |
INR 144.000 Million |
|
|
Total |
|
INR 150.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
INR 10/- each |
INR 6.000 Million |
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|
|
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As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
INR 10/- each |
INR 6.000 Million |
|
14400000 |
Preference Shares |
INR 10/- each |
INR 144.000 Million |
|
|
Total |
|
INR 150.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
INR 10/- each |
INR 6.000 Million |
|
4300000 |
Preference Shares |
INR 10/- each |
INR 43.000 Million |
|
|
|
|
INR 49.000
Million |
FINANCIAL DATA
[all figures are INR
Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
49.000 |
56.000 |
56.000 |
|
(b) Reserves & Surplus |
333.070 |
251.977 |
206.519 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
382.070 |
307.977 |
262.519 |
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(3) Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
1.165 |
4.935 |
6.817 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.476 |
1.315 |
0.915 |
|
Total
Non-current Liabilities (3) |
3.641 |
6.250 |
7.732 |
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
116.866 |
58.583 |
78.872 |
|
(c) Other current liabilities |
17.050 |
7.481 |
4.295 |
|
(d) Short-term provisions |
1.033 |
2.523 |
3.990 |
|
Total
Current Liabilities (4) |
134.949 |
68.587 |
87.157 |
|
|
|
|
|
|
TOTAL |
520.660 |
382.814 |
357.408 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
77.366 |
90.760 |
98.244 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.224 |
1.850 |
2.284 |
|
(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 |
1.709 |
1.983 |
1.338 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
80.299 |
94.593 |
101.866 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
201.766 |
95.349 |
114.886 |
|
(c) Trade receivables |
98.633 |
106.251 |
122.294 |
|
(d) Cash and cash equivalents |
122.046 |
83.607 |
5.669 |
|
(e) Short-term loans and
advances |
17.916 |
3.014 |
12.693 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
440.361 |
288.221 |
255.542 |
|
|
|
|
|
|
TOTAL |
520.660 |
382.814 |
357.408 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1087.365 |
867.786 |
768.835 |
|
|
Other Income |
0.872 |
0.533 |
1.090 |
|
|
TOTAL
|
1088.237 |
868.319 |
769.925 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
892.473 |
722.661 |
644.720 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(34.930) |
0.144 |
10.191 |
|
|
Employees benefits expense |
23.704 |
30.972 |
36.455 |
|
|
Other expenses |
58.011 |
30.204 |
29.893 |
|
|
TOTAL |
939.258 |
783.981 |
721.259 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
148.979 |
84.338 |
48.666 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.870 |
0.674 |
5.006 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
148.109 |
83.664 |
43.660 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
16.133 |
15.888 |
16.127 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
131.976 |
67.776 |
27.533 |
|
|
|
|
|
|
|
Less |
TAX |
45.576 |
22.318 |
8.085 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
86.400 |
45.458 |
19.448 |
|
|
|
|
|
|
|
|
CIF
VALUE OF CONSUMABLES AND SPARES IMPORTED INCLUSIVE OF MACHINERY |
0.000 |
4.152 |
3.092 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
136.16 |
67.26 |
23.85 |
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 |
101.818 |
133.674 |
113.787 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
33.11 |
44.69 |
58.06 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
11.02 |
8.17 |
6.29 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
47.80 |
29.59 |
44.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.74 |
0.88 |
0.42 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.90 |
0.91 |
0.48 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.26 |
0.18 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.35 |
0.22 |
0.33 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.21 |
0.30 |
0.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
171.24 |
125.13 |
9.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
7.95 |
5.24 |
2.53 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
16.59 |
11.87 |
5.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
22.61 |
14.76 |
7.41 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.26 |
4.20 |
2.93 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.77 |
2.81 |
1.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.73 |
0.80 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.26 |
4.20 |
2.93 |
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 |
56.000 |
56.000 |
49.000 |
|
Reserves & Surplus |
206.519 |
251.977 |
333.070 |
|
Net
worth |
262.519 |
307.977 |
382.070 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
768.835 |
867.786 |
1087.365 |
|
|
|
12.870 |
25.303 |
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 |
768.835 |
867.786 |
1087.365 |
|
Profit |
19.448 |
45.458 |
86.400 |
|
|
2.53% |
5.24% |
7.95% |
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 |
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 |
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 |
NOTE: Registered office of the company has been shifted from Plot No 142/B, IDA Mallapur, Hyderabad-500076, Andhra Pradesh, India to the present address w.e.f. 01.12.2006
STATE OF AFFAIRS (As
on 31.03.2016)
The Company is engaged in the business of Manufacturing Metal Working fluids and Lubes. The Company started the drumming of lube products
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Y10214210 |
90121405 |
ANDHRA BANK |
05/02/2000 |
02/02/2002 |
02/08/2003 |
5300000.0 |
SSI BRANCH NACHARAM HYDERABAD ANDHRA PRADESH 500051 INDIA |
|
2 |
Y10214415 |
90121610 |
ANDHRA BANK |
05/02/2002 |
- |
02/08/2003 |
5300000.0 |
SSI BRANCH NACHARAM HYDERABAD ANDHRA PRADESH 500051 INDIA |
|
3 |
Y10215369 |
90122564 |
ANDHRA BANK |
04/01/1997 |
- |
24/09/2002 |
1300000.0 |
SSI BRANCH NACHARAM HYDERABAD ANDHRA PRADESH 500051 INDIA |
|
4 |
Y10215296 |
90122491 |
PUNJAB NATIONAL BANK |
18/12/1995 |
- |
20/01/1997 |
700000.0 |
LAL BAZAR SECUNDERABAD ANDHRA PRADESH 500003 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Claims against the Company not acknowledged as debts |
|
|
|
Being Sales Tax/VAT Matters under dispute* |
4.463 |
4.463 |
|
Total |
4.463 |
4.463 |
|
* Gross amount under dispute is INR 4.462 Million (March 31, 2015: INR 4.462 Million) against which the Company has paid amounts aggregating to INR 0.988 million (March 31, 2015: INR 0.988 Million) under protest. |
||
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer
- 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, India Prisons Service,
Interpol, etc.
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 63.92 |
|
UK Pound |
1 |
INR 79.68 |
|
Euro |
1 |
INR 89.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·