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|
MIRA INFORM REPORT
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Report No. : |
493880 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
OGNIBENE INDIA PRIVATE LIMITED |
|
|
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Registered
Office : |
Plot No. A-13, Talegaon Industrial Area, Navlakh Umbre, Taluka Maval,
Pune-410507, Maharashtra |
|
Tel. No.: |
91-2114-660300 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
10.02.2006 |
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Com. Reg. No.: |
11-021976 |
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Capital
Investment / Paid-up Capital : |
INR 399.720 Million |
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CIN No.: [Company Identification
No.] |
U29299PN2006PTC021976 |
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IEC No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACO8051C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Hydraulic Cylinders, Steering Units and Transmission Control Valves and also Provides Engineering and Designing services to its parent company and also engaged in Trading of Steering Columns. [Registered Activity] |
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|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2006. It is a subsidiary of Ognibene Power SPA, Italy. As per the financial of 2017, the company has achieved a favourable profitability margin of 15.13% and has reported a satisfactory growth of 30.52% in its revenue as compared to the previous year’s revenue. The overall financial position of the company seems to be fair marked by adequate net worth base along with acceptable liquidity position. Rating takes into consideration the strength that the company derives from its holding company and its experienced management team. Rating is constrained on account of low reserve base of the company. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 23.02.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-2114-660300/ 660330]
LOCATIONS
|
Registered Office : |
Plot No. A-13, Talegaon Industrial Area, Navlakh Umbre, Taluka Maval,
Pune-410507, Maharashtra, India |
|
Tel. No.: |
91-2114-660300/ 660330 |
|
Fax No.: |
91-2114-660391 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Claudio Ognibene |
|
Designation : |
Director |
|
Address : |
L. Fornaciari, 8/00 Reggio Nell Emilia 42100 IT |
|
Date of Appointment : |
24.02.2006 |
|
DIN No.: |
02435377 |
|
|
|
|
Name : |
Mr. Federico Maurilli |
|
Designation : |
Director |
|
Address : |
Flat No. A-601, The Balmoral Estate Survey No. 117/118,
Baner Road, Baner, Pune-411045, Maharashtra, India |
|
Date of Appointment : |
01.08.2017 |
|
DIN No.: |
03258383 |
|
|
|
|
Name : |
Mr. Santosh Rajendraji Dhoka |
|
Designation : |
Director |
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Address : |
626 New Guruwar Peth, Near Mithaganj Police Chowky, Pune-411002, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1985 |
|
Date of Appointment : |
03.12.2014 |
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PAN No.: |
AKGPD8941F |
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DIN No.: |
03287857 |
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|
|
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Name : |
Mr. Salvatore Carbone |
|
Designation : |
Director |
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Address : |
Erice Street No 11 SCICLI RG 97018 IT |
|
Date of Birth/Age : |
29.03.1978 |
|
Date of Appointment : |
18.12.2014 |
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PAN No.: |
BDTPC0398A |
|
DIN No.: |
07048895 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Alessandro Giorgio Gaudino, India |
|
10000 |
|
Ognibene Power Spa, Italy |
|
14961955 |
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|
|
|
|
Total |
|
14971955 |
|
Names of Shareholder [0.1% Compulsorily Covertible Non-Cumulative
Preference Shares] |
|
No. of Shares |
|
Ognibene Power Spa, Italy |
|
25000000 |
|
|
|
|
|
Total |
|
25000000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Foreign national (other than NRI) |
0.07 |
|
Promoters – Body Corporate |
99.93 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Hydraulic Cylinders, Steering Units and Transmission Control Valves and also Provides Engineering and Designing services to its parent company and also engaged in Trading of Steering Columns. [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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 declined by the Management |
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Bankers : |
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Facilities : |
--- |
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Auditors : |
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|
Name : |
Joshi Apte and Company Chartered Accountants |
|
Address : |
Dwarka, 999, Navi Peth, Pune – 411030, Maharashtra, India |
|
PAN No.: |
AAAFJ9696H |
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|
|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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Holding Company : |
Ognibene Power Spa, Italy |
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|
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Ultimate Holding Company : |
Ognibene SPA, Italy |
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|
Fellow Subsidiary Company : |
· Ognibene Hydraulic Components (Suzhou, China) · Ognibene Hidrostatica LTDA (Brazil) · Ognibene North America LLC · Ognibene Power K.K. (Japan) |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
25000000 |
Preference Shares |
INR 10/- each |
INR 250.000 Million |
|
|
Total |
|
INR 400.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14971955 |
Equity Shares |
INR 10/- each |
INR 149.720
Million |
|
25000000 |
Preference Shares |
INR 10/- each |
INR 250.000 Million |
|
|
Total |
|
INR 399.720
Million |
FINANCIAL DATA
[all figures are
in 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 |
399.720 |
399.720 |
399.720 |
|
(b) Reserves and Surplus |
267.635 |
56.516 |
(26.004) |
|
(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) |
667.355 |
456.236 |
373.716 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
72.986 |
0.000 |
39.319 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
6.778 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
72.986 |
0.000 |
46.097 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
196.193 |
421.081 |
357.883 |
|
(c) Other
current liabilities |
24.223 |
122.493 |
73.785 |
|
(d) Short-term
provisions |
18.005 |
3.656 |
2.831 |
|
Total Current
Liabilities (4) |
238.421 |
547.230 |
434.499 |
|
|
|
|
|
|
TOTAL |
978.762 |
1003.466 |
854.312 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
305.148 |
305.039 |
281.667 |
|
(ii)
Intangible Assets |
0.160 |
0.514 |
0.539 |
|
(iii) Tangible assets
capital work-in-progress |
4.350 |
23.334 |
0.694 |
|
(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) |
5.820 |
8.259 |
0.000 |
|
(d)
Long-term loans and advances |
9.574 |
16.887 |
25.434 |
|
(e) Other
Non-current assets |
12.489 |
8.526 |
7.805 |
|
Total Non-Current
Assets |
337.541 |
362.559 |
316.139 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
216.587 |
211.154 |
227.450 |
|
(c) Trade
receivables |
312.409 |
277.295 |
217.699 |
|
(d) Cash and
bank balances |
68.970 |
68.207 |
27.924 |
|
(e) Short-term
loans and advances |
28.327 |
75.847 |
61.672 |
|
(f) Other
current assets |
14.928 |
8.404 |
3.428 |
|
Total
Current Assets |
641.221 |
640.907 |
538.173 |
|
|
|
|
|
|
TOTAL |
978.762 |
1003.466 |
854.312 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1395.357 |
1069.057 |
820.437 |
|
|
Other Income |
35.478 |
5.811 |
67.693 |
|
|
TOTAL |
1430.835 |
1074.868 |
888.130 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
695.350 |
631.170 |
522.068 |
|
|
Purchases of
Stock-in-Trade |
6.719 |
5.272 |
1.327 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
19.277 |
(26.510) |
(12.698) |
|
|
Employee benefit expense |
137.967 |
131.422 |
88.853 |
|
|
Other expenses |
182.998 |
152.385 |
109.117 |
|
|
Exceptional items |
0.000 |
0.000 |
(27.344) |
|
|
TOTAL |
1042.311 |
893.739 |
681.323 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
388.524 |
181.129 |
206.807 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.359 |
27.940 |
14.437 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
386.165 |
153.189 |
192.370 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
57.607 |
53.902 |
50.784 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
328.558 |
99.287 |
141.586 |
|
|
|
|
|
|
|
Less |
TAX |
117.439 |
16.463 |
53.403 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
211.119 |
82.824 |
88.183 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Direct Exports |
324.853 |
328.425 |
101.028 |
|
|
Designing fees |
3.781 |
7.344 |
7.138 |
|
|
TOTAL EARNINGS |
328.634 |
335.769 |
108.166 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
250.944 |
230.398 |
286.349 |
|
|
Capital Goods |
7.751 |
33.872 |
45.544 |
|
|
TOTAL IMPORTS |
258.696 |
264.271 |
331.893 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
14.10 |
5.53 |
5.89 |
|
|
Diluted |
5.28 |
2.07 |
2.21 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
10.427 |
25.630 |
48.461 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
140.101 |
153.160 |
125.161 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
54.900 |
130.096 |
98.827 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
81.72 |
94.67 |
96.85 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.47 |
3.86 |
3.77 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
102.00 |
241.49 |
249.58 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.79 |
0.86 |
0.91 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.25 |
0.55 |
0.73 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.33 |
0.57 |
0.61 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.12 |
0.06 |
0.23 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.36 |
1.20 |
1.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.46 |
0.72 |
0.76 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
164.70 |
6.48 |
14.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
15.13 |
7.75 |
10.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
21.57 |
8.25 |
10.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
31.64 |
18.15 |
23.60 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.69 |
1.17 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.78 |
0.79 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.68 |
0.45 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.21 |
0.06 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.69 |
1.17 |
1.24 |
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 |
399.720 |
399.720 |
399.720 |
|
Reserves & Surplus |
(26.004) |
56.516 |
267.635 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
373.716 |
456.236 |
667.355 |
|
|
|
|
|
|
Long-term borrowings |
39.319 |
0.000 |
72.986 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
48.461 |
25.630 |
10.427 |
|
Total
borrowings |
87.780 |
25.630 |
83.413 |
|
Debt/Equity
ratio |
0.235 |
0.056 |
0.125 |
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 |
820.437 |
1069.057 |
1395.357 |
|
|
|
30.303 |
30.522 |
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 |
820.437 |
1069.057 |
1395.357 |
|
Profit/ (Loss) |
88.183 |
82.824 |
211.119 |
|
|
10.75
% |
7.75
% |
15.13
% |
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 |
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
72.986 |
0.000 |
|
|
|
|
|
Total |
72.986 |
0.000 |
NATURE OF OPERATIONS
Ognibene India Private Limited ('The Company') (CIN: U29299PN2006PTC021976) is engaged in manufacturing of Hydraulic cylinders, Steering units and Transmission Control Valves. The company also provides engineering and designing services to its parent company. The company is also engaged in trading of Steering Columns.
STATE OF THE COMPANY’S AFFAIRS:
In the financial year 2016-17, the Company achieved gross sales of INR 1395.357 Million, and has recorded a profit of INR 211.119 Million after tax as compared to previous year’s profit of INR 82.824 Million Company will also focus in other segments which will support to boost the business growth and increase the turnover and the Shareholders value in the coming years.
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from 501,
Kensington Court, 5th Lane North Main Road, Koregaon Park, Pune-411001,
Maharashtra, India to the present address w.e.f 01.01.2008
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees |
5.058 |
5.592 |
|
Other money for which company is contingently liable |
0.550 |
7.578 |
|
|
|
|
|
Total |
5.608 |
13.170 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 65.05 |
|
UK Pound |
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
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.