|
|
|
MIRA INFORM REPORT
|
Report No. : |
493646 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
H.B. FULLER INDIA ADHESIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot 1E, Sr. 1129 (P),1140, 1295,1122(P) Mauje- Shirwal, Taluka- Khandala Satara – 412801, Maharashtra |
|
Tel. No.: |
91-20-67120112 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
05.11.2008 |
|
|
|
|
Com. Reg. No.: |
11-158367 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 498.953 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2008PTC158367 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH1671D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the manufacturing and sale of
industrial adhesives. (Registered Activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “H.B. Fuller Benelux BV” based in
Netherland and it was incorporated in the year 2008. As per financials of march 2017, the company has registered a growth
of 8.15% in its revenue as compared to its previous year’s revenue and has
reported good profit margin of 10.08%. Rating takes into consideration the company’s satisfactory track record
of business operations marked by healthy financial risk profile along with
debt free balance sheet and good liquidity position. Rating also takes into account the strong financial and managerial
support received from its holding entity. Further, the company has reported a good earnings per share of INR
71.06 against its face value of INR 100. Payments seems to be regular. In view of aforesaid, the company can be considered good 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 (30.09.2017) |
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 22.02.2018
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. Sagar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-67120112 |
|
Date : |
21.02.2018 |
(91-9825732116) – Ringing
LOCATIONS
|
Registered Office : |
Plot 1E, Sr. 1129 (P),1140, 1295,1122(P) Mauje- Shirwal, Taluka- Khandala Satara – 412801, Maharashtra, India |
|
Tel. No.: |
91-20-67120112 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Steven Kenny |
|
Designation : |
Director |
|
Address : |
The Elms, The Green, Tysore, CV35 OSN, Warwick |
|
Date of Birth/Age : |
23.06.1961 |
|
Date of Appointment : |
28.02.2014 |
|
DIN No.: |
06798192 |
|
|
|
|
Name : |
Mr. Malcolm Dominic Anthony Grey |
|
Designation : |
Director |
|
Address : |
Mohrhaldenstrasse 166 Switzerland, Riehen 4125 |
|
Date of Birth/Age : |
17.04.1967 |
|
Date of Appointment : |
28.02.2014 |
|
DIN No.: |
01254202 |
|
|
|
|
Name : |
Mr. Harsh Gupta |
|
Designation : |
Director |
|
Address : |
E401, Landmark Garden Kalyaninagar, Pune – 411006, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1976 |
|
Date of Appointment : |
19.03.2016 |
|
PAN No.: |
AEIPG4829B |
|
DIN No.: |
07467153 |
|
|
|
|
Name : |
Tabrez Habib Hanif |
|
Designation : |
Wholetime Director |
|
Address : |
Delicia - A1, Utopia Chs, Wanowrie, Pune - 411040, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1977 |
|
Date of Appointment : |
13.10.2015 |
|
DIN No.: |
07306727 |
KEY EXECUTIVES
|
Name : |
Mr. Ujwal Kumar Kalita |
|
Designation : |
Secretary |
|
Address : |
House No.15, Bhetpda Chariali, Barsajal, C. Chaudhari Path, Beltala –
781028, Assam |
|
Date of Birth/Age : |
31.12.1979 |
|
Date of Appointment : |
07.12.2011 |
|
PAN No: |
BHJPK2090P |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Equity Shareholders |
No. of Shares |
% of Holding |
|
H. B. Fuller Benelux B V, Netherlands |
2420500 |
99.59 |
|
H.B. Fuller Company, Willow Lake Blvd |
9000 |
0.37 |
|
H B Fuller International Inc, United States of America |
1000 |
0.04 |
|
Total |
2430500 |
100.00 |
|
Names of Preference Shareholders |
No. of Shares |
% of Holding |
|
H. B. Fuller Benelux B V, Netherlands |
38464821 |
81.04 |
|
H.B. Fuller Company, Willow Lake Blvd |
9000000 |
18.96 |
|
Total |
47464821 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
99.59 |
|
Public/Other than promoters - Body corporate |
0.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacturing and sale of
industrial adhesives. (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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
Bankers : |
|
|
Auditors : |
|
|
Name : |
DKV and Associates Chartered Accountants |
|
Address : |
No 2 1st Floor, Lajwanti Co-Op Hsg Society, Opposite Sonal Hall, Karve Road,Erandawane,Pune-411004, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFD9165L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Fellow Subsidiary Company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
89000000 |
Preference Shares |
INR 10/- each |
INR 890.000 Million |
|
|
Total |
|
INR 915.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2430500 |
Equity Shares |
INR 10/- each |
INR 24.305 Million |
|
47464821 |
Preference Shares |
INR 10/- each |
INR 474.648 Million |
|
|
Total |
|
INR 498.953
Million |
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 |
498.953 |
426.705 |
426.705 |
|
(b) Reserves and Surplus |
744.848 |
270.629 |
220.424 |
|
(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) |
1243.801 |
697.334 |
647.129 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
222.351 |
|
(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 |
7.990 |
4.126 |
2.946 |
|
Total Non-current
Liabilities (3) |
7.990 |
4.126 |
225.297 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
58.775 |
|
(b) Trade
payables |
575.652 |
760.633 |
577.599 |
|
(c) Other
current liabilities |
27.988 |
255.929 |
28.331 |
|
(d) Short-term
provisions |
76.995 |
12.791 |
2.003 |
|
Total Current
Liabilities (4) |
680.635 |
1029.353 |
666.708 |
|
|
|
|
|
|
TOTAL |
1932.426 |
1730.813 |
1539.134 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
421.086 |
430.678 |
460.552 |
|
(ii)
Intangible Assets |
0.012 |
0.044 |
0.890 |
|
(iii) Tangible assets
capital work-in-progress |
47.295 |
2.830 |
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) |
30.831 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
499.224 |
433.552 |
461.442 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
433.205 |
489.917 |
492.904 |
|
(c) Trade
receivables |
557.189 |
400.060 |
341.397 |
|
(d) Cash and
bank balances |
126.071 |
166.745 |
107.793 |
|
(e)
Short-term loans and advances |
316.737 |
240.539 |
135.598 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1433.202 |
1297.261 |
1077.692 |
|
|
|
|
|
|
TOTAL |
1932.426 |
1730.813 |
1539.134 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2509.942 |
2320.874 |
1717.398 |
|
|
Other Income |
3.652 |
1.233 |
5.293 |
|
|
TOTAL |
2513.594 |
2322.107 |
1722.691 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1653.109 |
1664.357 |
1401.837 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
27.660 |
(3.495) |
(27.794) |
|
|
Employee benefit expense |
139.529 |
106.048 |
79.091 |
|
|
Other expenses |
356.950 |
427.642 |
293.015 |
|
|
Prior period items before tax |
0.000 |
(10.847) |
5.572 |
|
|
TOTAL |
2177.248 |
2183.705 |
1751.721 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
336.346 |
138.402 |
(29.030) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.615 |
9.182 |
6.608 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
331.731 |
129.220 |
(35.638) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
44.872 |
77.714 |
14.480 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
286.859 |
51.506 |
(50.118) |
|
|
|
|
|
|
|
Less |
TAX |
33.792 |
1.300 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
253.067 |
50.206 |
(50.118) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.072 |
1.177 |
(1.175) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
224.294 |
0.000 |
|
Cash generated from operations |
39.150 |
396.407 |
(260.721) |
|
Net cash flows from (used in) operations |
(30.851) |
395.107 |
(260.721) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
81.03 |
62.92 |
72.56 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.50 |
5.80 |
5.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
127.10 |
166.81 |
150.39 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.78 |
0.28 |
(0.06) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.72 |
0.32 |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.35 |
0.72 |
0.58 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.32 |
0.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.55 |
1.48 |
1.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.38 |
0.62 |
0.71 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
72.88 |
15.07 |
(4.39) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.08 |
2.16 |
(2.92) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
13.10 |
2.90 |
(3.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
20.35 |
7.20 |
(7.74) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.11 |
1.26 |
1.62 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.47 |
0.78 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.64 |
0.40 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.53 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.11 |
1.26 |
1.62 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
426.705 |
426.705 |
498.953 |
|
Reserves & Surplus |
220.424 |
270.629 |
744.848 |
|
Net
worth |
647.129 |
697.334 |
1243.801 |
|
|
|
|
|
|
Long-term borrowings |
222.351 |
0.000 |
0.000 |
|
Short term borrowings |
58.775 |
0.000 |
0.000 |
|
Total
borrowings |
281.126 |
224.294 |
0.000 |
|
Debt/Equity
ratio |
0.434 |
0.322 |
0.000 |
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 |
1717.398 |
2320.874 |
2509.942 |
|
|
0.000 |
35.139 |
8.146 |
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 |
1717.398 |
2320.874 |
2509.942 |
|
Profit/ (Loss) |
(50.118) |
50.206 |
253.067 |
|
|
(2.92
%) |
2.16
% |
10.08
% |
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 |
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 |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
The Subject company was incorporated on November 5, 2008 and registered under Indian Companies Act, 1956. The Company is a subsidiary of H. B. Fuller Benelux B V (The Holding company). The Company is engaged in the manufacturing and sale of industrial adhesives. The Company has started its commercial operations during financial year 2008-09.
OPERATIONS
The Company is carrying on the business of Manufacturing and selling of Industrial adhesives. During the year the turnover of the Company has increased to INR 2509.942 Million as compared to INR 2320.874 Million in the financial year 2015-16. The net profit of the company, after taxation has increased to INR 253.067 Million in the current financial year as compared to INR 50.205 Million in the financial year 2015-16
INDEX OF CHARGE: No Charges Exists for Company
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
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 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 64.81 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
POO |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
NKTS |
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.