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|
|
MIRA INFORM REPORT
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Report No. : |
493669 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLOVIS INDIA PRIVATE LIMITED |
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|
|
|
Registered Office
: |
F - 98, 8th Main Road, Sipcot Industrial Park Kattrampakkam Village, Sriperumbudur, Taluk - Kancheepuram, District - Kancheepuram – 602105, Tamilnadu |
|
Tel. No.: |
91-44-47118659 / 47118612 |
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Country : |
India |
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Financials (as on)
: |
31.03.2017 |
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Date of
Incorporation : |
23.02.2006 |
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|
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Com. Reg. No.: |
18-058975 |
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Capital
Investment / Paid-up Capital : |
INR 117.047 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U74900TN2006PTC058975 |
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|
|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCG5453E |
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|
|
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GSTIN : [Goods & Service Tax
Registration No.] |
33AACCG5453E1ZY |
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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
Integrated Logistics and Distribution. Integrated Logistics Division comprises
of Container Freight Station (‘CFS’) Services, Forwarding Services and
Transportation Services. Distribution Division comprises of Completely
Knocked Down (‘CKD’) which involves activities such as assembling, repacking,
relabeling etc. Manufacturing which includes Automobile Components. (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Hyundai Glovis Company Limited“ base in
South Korea and it is a part of Hyundai Group. It was incorporated in the year 2006 and provides logistics solutions. As per financials of March 2017, the company has registered a healthy
operating revenue and average profit margin of 2.89%. Rating takes into consideration the company’s satisfactory track
record of business operations marked by net worth base along with low
solvency indicators and good liquidity position. Rating also takes into account the strong financial and managerial
support received from its holding entity and well experienced management
team. Further, the company has reported a good earnings per share of INR
49.07 against its face value of INR 10. Payments seems to be regular. In view of aforesaid, the company can be considered good for business
dealings at normal trade term 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 24.02.2018
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
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-44-47118659)
LOCATIONS
|
Registered Office : |
F - 98, 8th Main Road, Sipcot Industrial Park Kattrampakkam Village, Sriperumbudur, Taluk - Kancheepuram, District - Kancheepuram – 602105, Tamilnadu, India |
|
|
|
|
Tel. No.: |
91-44-47118659 / 47118612 |
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Fax No.: |
91-44-47118696 / 665 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at :
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Yong Sub Kim |
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Designation : |
Alternate Director |
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Address : |
No 1102, 11th Floor, Tower-C, Classic Apartment Phoneix Market City, 142 Velachery Main Road, Chennai – 600042, Tamilnadu, India |
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Date of Birth/Age : |
02.12.1980 |
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Qualification : |
Technical Degree |
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Date of Appointment : |
16.03.2016 |
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DIN No.: |
07410105 |
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Other Directorship:
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||||||||||||
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Name : |
Mr. Yeong Seon Kim |
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Designation : |
Additional Director |
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Address : |
105-201 Pangyo-ro 50, Bundang-gu, Seongnam-si, Gyeonggi-do, South Korea |
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Date of Appointment : |
13.12.2017 |
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DIN No.: |
08019869 |
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Name : |
Mr. Tae Young Park |
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Designation : |
Managing Director |
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Address : |
Sangdopaeriseu 101-104 40 Sangdo-Ro 47ba-Gil Dongjak-Gu Seoul Metropolitan NA KR |
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Date of Birth/Age : |
20.01.1966 |
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Date of Appointment : |
15.02.2018 |
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DIN No.: |
08068880 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Hyundai Gloves Co. Limited, South Korea |
|
11704680 |
|
Yeong Seon Kim |
|
10 |
|
|
|
|
|
Total |
|
11704690 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the business of
Integrated Logistics and Distribution. Integrated Logistics Division comprises
of Container Freight Station (‘CFS’) Services, Forwarding Services and
Transportation Services. Distribution Division comprises of Completely
Knocked Down (‘CKD’) which involves activities such as assembling, repacking,
relabeling etc. Manufacturing which includes Automobile Components. (Registered
activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
7 & 8th Floor, ASV N Ramana Tower, 52 Venkatanrayana Road, T Nagar, Chennai - 600017, Tamilnadu, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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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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|
Ultimate holding
company : |
Hyundai Motor Company, South Korea |
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|
|
|
Holding company : |
Hyundai Glovis Co., Limited., South Korea |
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|
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|
Fellow subsidiaries
: |
U29309TN1996PLC035377
U50300TN2005PLC056533
U35900TN2007PTC065380
U34300TN2010PTC074749
U50103TG2006PTC073037
U27104TN2006PTC060275
U72300TN2006PTC060752
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11704690 |
Equity Shares |
INR 10/- each |
INR 117.047
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 |
117.047 |
117.047 |
117.047 |
|
(b) Reserves & Surplus |
4148.036 |
4596.683 |
3996.879 |
|
(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) |
4265.083 |
4713.730 |
4113.926 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
85.025 |
66.049 |
53.943 |
|
Total
Non-current Liabilities (3) |
85.025 |
66.049 |
53.943 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
556.759 |
780.975 |
227.036 |
|
(b) Trade payables |
1657.529 |
1743.779 |
1392.740 |
|
(c) Other current liabilities |
36.235 |
23.385 |
2.457 |
|
(d) Short-term provisions |
47.314 |
34.450 |
28.529 |
|
Total
Current Liabilities (4) |
2297.837 |
2582.589 |
1650.762 |
|
|
|
|
|
|
TOTAL |
6647.945 |
7362.368 |
5818.631 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
364.685 |
406.225 |
456.784 |
|
(ii) Intangible Assets |
4.650 |
5.935 |
5.878 |
|
(iii) Capital work-in-progress |
0.311 |
0.272 |
4.745 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.017 |
0.017 |
0.017 |
|
(c) Deferred tax assets (net) |
36.047 |
21.748 |
9.395 |
|
(d) Long-term Loan and Advances |
491.756 |
418.540 |
403.513 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
897.466 |
852.737 |
880.332 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
139.804 |
214.262 |
196.323 |
|
(c) Trade receivables |
3166.128 |
4366.419 |
3682.058 |
|
(d) Cash and cash equivalents |
1756.416 |
1146.995 |
452.813 |
|
(e) Short-term loans and
advances |
396.828 |
442.466 |
131.439 |
|
(f) Other current assets |
291.303 |
339.489 |
475.666 |
|
Total
Current Assets |
5750.479 |
6509.631 |
4938.299 |
|
|
|
|
|
|
TOTAL |
6647.945 |
7362.368 |
5818.631 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
19861.333 |
19928.344 |
20850.770 |
|
|
Other Income |
140.937 |
467.797 |
68.309 |
|
|
TOTAL
|
20002.270 |
20396.141 |
20919.079 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
10521.202 |
10966.760 |
11452.852 |
|
|
Purchases of Stock-in-Trade |
49.512 |
46.949 |
30.470 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
59.968 |
(12.336) |
215.619 |
|
|
Employees benefits expense |
249.657 |
241.399 |
216.082 |
|
|
CSR expenditure |
2.507 |
1.773 |
31.012 |
|
|
Other expenses |
8200.449 |
7451.062 |
7363.699 |
|
|
TOTAL |
19083.295 |
18695.607 |
19309.734 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
918.975 |
1700.534 |
1609.345 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.387 |
0.521 |
5.390 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
917.588 |
1700.013 |
1603.955 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
53.495 |
59.131 |
63.454 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
864.093 |
1640.882 |
1540.501 |
|
|
|
|
|
|
|
Less |
TAX |
289.700 |
559.648 |
535.193 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
574.393 |
1081.234 |
1005.308 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
10749.453 |
1165.547 |
12987.682 |
|
|
Earnings on other income |
189.497 |
306.752 |
66.095 |
|
|
TOTAL
EARNINGS |
10938.950 |
1472.299 |
13053.777 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
3.754 |
48.656 |
|
|
TOTAL
IMPORTS |
0.000 |
3.754 |
48.656 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
49.07 |
92.38 |
85.89 |
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 |
|
Net cash flows from (used in) operations |
2145.492 |
1162.945 |
1518.747 |
|
Net cash flows from (used in) operating activities |
1707.152 |
567.793 |
759.730 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
58.19 |
79.97 |
64.46 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.27 |
4.56 |
5.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
57.23 |
57.79 |
44.27 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
6.57 |
7.94 |
8.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.49 |
4.12 |
3.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.35 |
0.35 |
0.28 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.13 |
0.17 |
0.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.54 |
0.55 |
0.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.09 |
0.09 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
662.56 |
3263.98 |
298.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
2.89 |
5.43 |
4.82 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.64 |
14.69 |
17.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
13.47 |
22.94 |
24.44 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.50 |
2.52 |
2.99 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.44 |
2.44 |
2.87 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.64 |
0.64 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.76 |
6.67 |
1.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.50 |
2.52 |
2.99 |
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 |
117.047 |
117.047 |
117.047 |
|
Reserves & Surplus |
3996.879 |
4596.683 |
4148.036 |
|
Net
worth |
4113.926 |
4713.730 |
4265.083 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
227.036 |
780.975 |
556.759 |
|
Total
borrowings |
227.036 |
780.975 |
556.759 |
|
Debt/Equity
ratio |
0.055 |
0.166 |
0.131 |
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
|
20850.770 |
19928.344 |
19861.333 |
|
|
|
(4.424) |
(0.336) |
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
|
20850.770 |
19928.344 |
19861.333 |
|
Profit |
1005.308 |
1081.234 |
574.393 |
|
|
4.82% |
5.43% |
2.89% |
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 Company was incorporated on February 23, 2006 as a private limited company and is a wholly owned subsidiary of Hyundai Glovis Co., Limited, South Korea. The Company is primarily engaged in the business of integrated logistics and distribution. Integrated logistics division comprises of Container Freight Station (‘CFS’) services, Forwarding services and Transportation services. Distribution division comprises of Completely Knocked Down (‘CKD’) manufacturing which includes automobile components. The Company's operations are mainly located in India in addition to a branch office in Dubai which was established in the previous year.
INTRODUCTION:
Glovis provides integrated logistics solutions to exporters and importers especially for transportation of automobiles and its related components. Glovis India is a group Company of Hyundai Motors, it started as a business of car transportation for Hyundai Motors and over the years has matured into a successful business unit. In India, Hyundai Glovis is established as Glovis India Private Limited in the year 2006.
Glovis has well connected network of transporters and agents who facilitate in smooth operations across the nation and beyond. Glovis adheres to high quality standards to ensure customer satisfaction and over the years, through this commitment it has placed its mark as a reputed integrated supply chain service provider in the logistics industry.
OPERATIONAL REVIEW
During the year the Company reported a total revenue of INR 20002.270 Million as compared to INR 20396.141 Million the previous year. The net profit after tax was at INR 574.393 Million as against INR 1081.234 Million the previous year.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B41934894 |
10147576 |
11/02/2009 |
- |
25/06/2012 |
390000000.0 |
19, Rajaji Salai, Chennai – 600001, Tamilnadu, India |
FIXED ASSETS
- Land
- Factory building
- Furniture and fixtures
- Motor vehicles
- Computer equipments
- 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,
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 65.05 |
|
|
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
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.