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|
|
MIRA
INFORM REPORT
|
Report No. : |
492382 |
|
Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
NIPPON STEEL AND SUMIKIN ENGINEERING INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Unit No-211 to 215, 2nd Floor, Salcon Ras Vilas, Saket District Centre,
New Delhi-110017 |
|
Tel. No.: |
91-11-49478965/8900 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.04.2010 |
|
|
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Com. Reg. No.: |
55-303912 |
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Capital
Investment / Paid-up Capital : |
INR 47.500 Million |
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CIN No.: [Company Identification
No.] |
U74900DL2010FTC303912 |
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|
IEC No.: |
Not Applicable (As informed by the management that firm does not have
export and import) |
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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.] |
AADCN2858B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· The company is primarily engaged in the business of construction contracts which includes equipment supply and fabrication services. The company also provides marketing and administrative support services. (Registered Activity) · Subject is engaged into designing and constructing steel, environmental and energy plants. (Confirmed by management) |
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No. of Employees
: |
10 (Approximately) |
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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|
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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 “Nippon Steel and Sumikin Engineering Company Limited, Japan” incorporated in the year 2010 having satisfactory track record. It is engaged into designing and constructing steel, environmental and energy plants. For the financial year 2017, the company has reported a sharp decline in its revenue as compared to its previous year and has also incurred heavy losses during the year which has resulted into negative reserve. However, the company possesses acceptable financial risk profile marked by sufficient net worth base and comfortable debt protection metrics Rating continue to derive strength from its established track record of its business operation backed by its well experience management team and regular equity infusion by its holding entity. Offsetting these strength, the company faces huge operating losses due to stiff competition among the organized player, result to inability of subject to scale up its operations without facing profitability pressures. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
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 17.02.2018
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 PARTED BY
|
Name : |
Mr. Rajesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-11-49478964 |
|
Date : |
15.02.2018 |
LOCATIONS
|
Registered Office : |
Unit No-211 to 215, 2nd Floor, Salcon Ras Vilas, Saket District Centre,
New Delhi-110017, India |
|
Tel. No.: |
91-11-49478965/8900 |
|
Fax No.: |
91-11-49478955 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Takashi Takeuchi |
|
Designation : |
Managing Director |
|
Address : |
Apartment 519B, 19th Floor, The Magnolias, Golf Course Road, Sector 42, Gurugram – 122001, Haryana, India |
|
Date of Appointment : |
16.09.2016 |
|
DIN No.: |
07542429 |
|
|
|
|
Name : |
Yuta Yamada |
|
Designation : |
Whole-Time Director |
|
Address : |
L-81, The Park Towers, Park Place, DLF City, Gurugram – 122009, Haryana, India |
|
Date of Appointment : |
23.03.2015 |
|
DIN No.: |
07171898 |
|
|
|
|
Name : |
Hiroshi Kitajima |
|
Designation : |
Whole-Time Director |
|
Address : |
36, 2nd Floor, Poorvi Marg, Vasant Vihar, New Delhi-110057, India |
|
Date of Appointment : |
10.03.2016 |
|
DIN No.: |
07463721 |
|
|
|
|
Name : |
Hideto Omori |
|
Designation : |
Whole-Time Director |
|
Address : |
A-466, Third Floor, Defence Colony, New Delhi-110024, India |
|
Date of Appointment : |
31.03.2017 |
|
DIN No.: |
07774320 |
|
|
|
|
Name : |
Yasushi Shimanuki |
|
Designation : |
Director |
|
Address : |
3904 Proud Tower Musashi Kosugi, 3-1501-2 Kosugimachi Nakahara Ward Kawasaki City 1418604, Japan |
|
Date of Appointment : |
31.03.2017 |
|
DIN No.: |
07753524 |
|
|
|
|
Name : |
Hiroshi Shiraishi |
|
Designation : |
Director |
|
Address : |
1-31-2-504 Takaido Higashi, Suginami Ward, Tokyo Prefecture Tokyo 1680072 Japan |
|
Date of Appointment : |
31.03.2017 |
|
DIN No.: |
07753531 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Nippon Steel and Sumikin Engineering Company Limited, Japan |
4742500 |
99.84 |
|
Nippon Steel Plant Designing Corporation, Japan |
7500 |
0.16 |
|
Total |
4750000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 28.11.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· The company is primarily engaged in the business of construction contracts which includes equipment supply and fabrication services. The company also provides marketing and administrative support services. (Registered Activity) · Subject is engaged into designing and constructing steel, environmental and energy plants. (Confirmed by management) |
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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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users
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No. of Employees : |
10 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
B S R & Co LLP Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase- II, Gurugram
– 122002, Haryana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Nippon Steel and Sumikin Engineering Company Limited, Japan |
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Ultimate Holding Company : |
Nippon Steel Plant Designing Corporation, Japan |
CAPITAL STRUCTURE
As on 28.11.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
INR 10/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
INR 10/- each |
INR 47.500 Million |
|
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|
|
|
FINANCIAL DATA
[all figures are
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 |
47.500 |
7.500 |
7.500 |
|
(b) Reserves & Surplus |
(27.727) |
31.198 |
17.565 |
|
(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) |
19.773 |
38.698 |
25.065 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
500.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.694 |
1.293 |
12.918 |
|
(d) long-term provisions |
2.872 |
1.832 |
0.711 |
|
Total
Non-current Liabilities (3) |
506.566 |
3.125 |
13.629 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
40.055 |
159.583 |
0.000 |
|
(b) Trade payables |
107.495 |
245.830 |
130.525 |
|
(c) Other current liabilities |
144.517 |
356.483 |
192.207 |
|
(d) Short-term provisions |
0.120 |
0.132 |
5.737 |
|
Total
Current Liabilities (4) |
292.187 |
762.028 |
328.469 |
|
|
|
|
|
|
TOTAL |
818.526 |
803.851 |
367.163 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.636 |
12.879 |
8.896 |
|
(ii) Intangible Assets |
0.597 |
0.021 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
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 |
5.529 |
3.402 |
|
(d) Long-term Loan and Advances |
45.284 |
30.449 |
9.744 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
56.517 |
48.878 |
22.042 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
25.160 |
|
(c) Trade receivables |
532.612 |
329.886 |
114.807 |
|
(d) Cash and cash equivalents |
7.095 |
2.693 |
70.232 |
|
(e) Short-term loans and
advances |
47.753 |
93.713 |
112.286 |
|
(f) Other current assets |
174.549 |
328.681 |
22.636 |
|
Total
Current Assets |
762.009 |
754.973 |
345.121 |
|
|
|
|
|
|
TOTAL |
818.526 |
803.851 |
367.163 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
682.138 |
1184.360 |
322.591 |
|
|
Other Income |
0.000 |
4.869 |
0.000 |
|
|
TOTAL
|
682.138 |
1189.229 |
322.591 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Construction Cost |
103.547 |
887.012 |
0.000 |
|
|
Purchases of Traded goods |
320.518 |
0.000 |
220.540 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
25.160 |
(25.160) |
|
|
Employees benefits expense |
59.552 |
39.370 |
35.151 |
|
|
Other expenses |
188.221 |
203.218 |
82.062 |
|
|
TOTAL |
671.838 |
1154.760 |
312.593 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
10.300 |
34.469 |
9.998 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
49.326 |
1.916 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(39.026) |
32.553 |
9.998 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
6.462 |
13.445 |
2.950 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(45.488) |
19.108 |
7.048 |
|
|
|
|
|
|
|
Less |
TAX |
13.437 |
5.745 |
2.781 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(58.925) |
13.363 |
4.267 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Administrative and Other
Support Services |
260.669 |
154.475 |
96.178 |
|
|
TOTAL
EARNINGS |
260.669 |
154.475 |
96.178 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(18.84) |
18.18 |
5.69 |
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 |
|
Cash generated from operations |
(352.655) |
(196.077) |
(94.571) |
|
Net cash flows from (used in) operations |
(367.611) |
(207.757) |
(99.312) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
284.99 |
101.67 |
129.90 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.28 |
3.59 |
2.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
92.52 |
101.16 |
216.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.40 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.92 |
2.67 |
1.12 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.97 |
0.95 |
0.89 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
27.31 |
4.12 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
14.78 |
19.69 |
13.10 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.57 |
0.33 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.21 |
17.99 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(8.64) |
1.13 |
1.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(7.20) |
1.66 |
1.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(298.01) |
34.53 |
17.02 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.61 |
0.99 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.61 |
0.99 |
0.97 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.02 |
0.05 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
11.37 |
21.28 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.61 |
0.99 |
1.05 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
7.500 |
7.500 |
47.500 |
|
Reserves & Surplus |
17.565 |
31.198 |
(27.727) |
|
Net
worth |
25.065 |
38.698 |
19.773 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
500.000 |
|
Short term borrowings |
0.000 |
159.583 |
40.055 |
|
Total
borrowings |
0.000 |
159.583 |
540.055 |
|
Debt/Equity
ratio |
0.000 |
4.124 |
27.313 |
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 |
322.591 |
1184.360 |
682.138 |
|
|
|
267.140 |
(42.405) |
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 |
322.591 |
1184.360 |
682.138 |
|
Profit/ (Loss) |
4.267 |
13.363 |
(58.925) |
|
|
1.32% |
1.13% |
(8.64%) |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
The company is a private limited company domiciled and
headquartered in India. The company is primarily engaged in the business of
construction contracts which includes equipment supply and fabrication
services. The company also provides marketing and administrative support
services to Nippon Steel and Sumikin Engineering Company Limited, Japan (the
holding company) and its subsidiary/group companies (the group) etc. such as
information collating, inputs and services coordination and communication
between the Indian Companies and the group companies.
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G43854033 |
10575728 |
The Hongkong and Shanghai Banking Corporation Limited |
22/06/2015 |
27/04/2017 |
1000000000.0 |
25, Birla Tower Barakhamba Road New Delhi 110001 India |
FIXED ASSETS
- Building
- Leasehold
Equipments
- Furniture and
Fixture
- Computer
- Office
Equipments
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 63.91 |
|
UK Pound |
1 |
INR 80.17 |
|
Euro |
1 |
INR 90.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·