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|
|
MIRA INFORM REPORT
|
Report No. : |
494467 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DOOSAN BOBCAT INDIA PRIVATE LIMITED [w.e.f. 29.03.2017] |
|
|
|
|
Formerly Known
As : |
DOOSAN INFRACORE INDIA PRIVATE LIMITED |
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|
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Registered
Office : |
3rd Floor, TNPL Building, No. 67, Mount Road, Guindy,
Chennai – 600067, Tamilnadu |
|
Tel. No.: |
91-44-42223900 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
19.06.2007 |
|
|
|
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Com. Reg. No.: |
18-082032 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 634.205 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29248TN2007FTC082032 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0307067637 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCD6529L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is into the business of manufacture of compressors, portable power equipment and machines used in infrastructure and construction industries and also engaged in trading of skid steer loaders and its attachments and related spares. [Registered Activity] |
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|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 5900000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a wholly subsidiary of “Doosan International South East Asia Pte. Limited, Singapore” and was incorporated in the year 2007. For the financial year ended 2017, the company has achieved 32.29% growth in its revenue as compared to the previous year along with a profit margin of 10.09%. The sound risk profile of the company is marked by adequate net worth base along with strong debt coverage indicators due to debt free balance sheet profile. Rating also takes into account the strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings with trade terms and conditions. NOTE: The company has changed its name from “Doosan Infracore India
Private Limited” to “Doosan Bobcat India Private Limited” on 29th
March 2017. |
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
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 28.02.2018
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.
LOCATIONS
|
Registered Office : |
3rd Floor, TNPL Building, No. 67, Mount Road, Guindy,
Chennai – 600067, Tamilnadu, India |
|
Tel. No.: |
91-44-42223900 |
|
Mobile No.: |
91-9849003148 [Mr. Venkataramana] |
|
Fax No.: |
91-44-42223905 |
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E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Residential |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Venkataramana Addepalli |
|
Designation : |
Director |
|
Address : |
H. No.12-10-48, Sitaphal Mandi, Secunderabad – 500061, Telangana,
India |
|
Date of Birth/Age : |
30.06.1963 |
|
Qualification : |
BE |
|
Date of Appointment : |
09.12.2013 |
|
PAN No.: |
ABLPA3146R |
|
DIN No.: |
06783741 |
|
|
|
|
Name : |
Mr. Jong Seon Kim |
|
Designation : |
Director |
|
Address : |
327, Dong-603 Ho, 42 Jamwon-Ro-014-Gil, Seocho-Gu Seoul Korea-137795, Korea |
|
Date of Birth/Age : |
25.11.1966 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
09.06.2015 |
|
DIN No.: |
07206645 |
|
|
|
|
Name : |
Mr. Yoonsang Chaey |
|
Designation : |
Director |
|
Address : |
Namsan Town Apt 14-201, 32, Dasan-Ro, Jung-Gu, Seoul, South
Korea Seoul 04563, Korea |
|
Date of Appointment : |
02.09.2017 |
|
DIN No.: |
07927276 |
KEY EXECUTIVES
|
Name : |
Mr. Ranjith Kumar Rajendiran |
|
Designation : |
Company Secretary |
|
Address : |
No.3, Flat No.1, S K Vaibhav Flats, South Sivan Koil Street,
Vadapalani, Chennai – 600026, Tamilnadu, India |
|
Date of Appointment : |
01.12.2017 |
|
PAN No.: |
APGPR6259D |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Doosan International South East Asia Pte. Limited |
|
6342043 |
|
Bobcat Corporation, Japan |
|
2 |
|
|
|
|
|
Total |
|
6342045 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is into the business of manufacture of compressors, portable power equipment and machines used in infrastructure and construction industries and also engaged in trading of skid steer loaders and its attachments and related spares. [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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASVN Ramana Tower, 52, Venkatanarayana Road, T Nagar, Chennai, Tamilnadu, India |
|
PAN No.: |
AACFD3771D |
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
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Ultimate Holding company : |
·
Doosan Infracore Company Limited, Korea,
Republic of |
|
|
|
|
Holding Company : |
· Doosan International South East Asia Pte. Limited |
|
|
|
|
Fellow Subsidiary Companies : |
· Doosan Infracore China Co., Limited · Doosan Corporation Information and Communication BU, Korea · Doosan Infracore International, Atlanta · Doosan Benelux S.A, Belgium · Bobcat Company., USA · Montebert SAS., France · Doosan Trading Limited Shanghai · Doosan Trading Limited Shanghai · Doosan Power Systems P Limited, India · Doosan Portable Power, Stateville, NC 28625 · Doosan International SA (PTY) Limited · Doosan Infracore Construction Equipment, Statesville NC 28625 · Doosan Trading Limited, Dublin, Ireland · Doosan Infracore Suzhoui Co., Limited · Doosan Infracore Bobcat Korea Co., Limited · Doosan Information and Communication · Clark Equipment Company · Doosan Bobcat Engineering · Doosan Infracore Bobcat Holdings · Doosan Bobcat Manufacturing · Doosan Bobcat Manufacturing · Doosan Leadership Institute · Doosan Infracore India Private Limited · Doosan Infracore Construction Equipment India Private Limited |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7050000 |
Equity Shares |
INR 100/- each |
INR 705.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6342045 |
Equity Shares |
INR 100/- each |
INR 634.205 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 |
634.205 |
634.205 |
634.205 |
|
(b) Reserves & Surplus |
1438.534 |
1097.359 |
1048.252 |
|
(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) |
2072.739 |
1731.564 |
1682.457 |
|
|
|
|
|
|
(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 |
4.431 |
5.828 |
10.760 |
|
(d) Long-term
provisions |
68.894 |
14.183 |
17.733 |
|
Total Non-current
Liabilities (3) |
73.325 |
20.011 |
28.493 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
610.916 |
822.858 |
805.255 |
|
(c) Other current
liabilities |
105.397 |
266.571 |
67.799 |
|
(d) Short-term
provisions |
114.150 |
140.391 |
233.935 |
|
Total Current
Liabilities (4) |
830.463 |
1229.820 |
1106.989 |
|
|
|
|
|
|
TOTAL |
2976.527 |
2981.395 |
2817.939 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
18.597 |
20.865 |
23.992 |
|
(ii)
Intangible Assets |
0.177 |
0.000 |
0.026 |
|
(iii)
Capital work-in-progress |
4.805 |
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) |
50.902 |
56.150 |
96.775 |
|
(d)
Long-term Loan and Advances |
65.310 |
75.081 |
48.383 |
|
(e) Other Non-current
assets |
40.702 |
89.877 |
89.118 |
|
Total Non-Current
Assets |
180.493 |
241.973 |
258.294 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
834.141 |
740.577 |
1398.274 |
|
(c) Trade
receivables |
408.629 |
491.724 |
675.908 |
|
(d) Cash
and cash equivalents |
1449.181 |
1068.173 |
321.219 |
|
(e)
Short-term loans and advances |
85.546 |
86.399 |
164.115 |
|
(f) Other
current assets |
18.537 |
352.549 |
0.129 |
|
Total Current
Assets |
2796.034 |
2739.422 |
2559.645 |
|
|
|
|
|
|
TOTAL |
2976.527 |
2981.395 |
2817.939 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3380.573 |
2555.274 |
1902.185 |
|
|
Other Income |
154.612 |
63.478 |
23.891 |
|
|
TOTAL |
3535.185 |
2618.752 |
1926.076 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1547.237 |
862.077 |
645.795 |
|
|
Purchases of
Stock-in-Trade |
805.033 |
1073.808 |
651.021 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
78.344 |
(158.222) |
(13.028) |
|
|
Employee benefit expense |
215.370 |
188.788 |
160.784 |
|
|
CSR expenditure |
0.116 |
0.000 |
0.000 |
|
|
Other expenses |
360.503 |
369.825 |
343.303 |
|
|
TOTAL |
3006.603 |
2336.276 |
1787.875 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
528.582 |
282.476 |
138.201 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.185 |
0.058 |
0.880 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
528.397 |
282.418 |
137.321 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
10.813 |
8.279 |
14.773 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
517.584 |
274.139 |
122.548 |
|
|
|
|
|
|
|
Less |
TAX |
176.409 |
63.268 |
40.080 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
341.175 |
210.871 |
82.468 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
748.934 |
272.425 |
0.000 |
|
|
Components and spare
parts |
198.483 |
213.587 |
0.000 |
|
|
Capital Goods |
466.734 |
439.685 |
0.000 |
|
|
TOTAL IMPORTS |
1414.151 |
925.697 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
53.30 |
33.25 |
13.00 |
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
477.065 |
332.821 |
152.166 |
|
Net cash flows from (used in) operating activities |
299.428 |
271.932 |
101.566 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
44.12 |
70.24 |
129.70 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.27 |
5.20 |
2.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
94.80 |
155.15 |
226.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.63 |
0.38 |
0.10 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
22.42 |
13.54 |
5.75 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.28 |
0.41 |
0.39 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.40 |
0.71 |
0.66 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2857.20 |
4870.28 |
157.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
10.09 |
8.25 |
4.34 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.46 |
7.07 |
2.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.46 |
12.18 |
4.90 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.37 |
2.23 |
2.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.36 |
1.63 |
1.05 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.70 |
0.58 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.37 |
2.23 |
2.31 |
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 |
634.205 |
634.205 |
634.205 |
|
Reserves & Surplus |
1048.252 |
1097.359 |
1438.534 |
|
Net
worth |
1682.457 |
1731.564 |
2072.739 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1902.185 |
2555.274 |
3380.573 |
|
|
|
34.334 |
32.298 |
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 |
1902.185 |
2555.274 |
3380.573 |
|
Profit/ (Loss) |
82.468 |
210.871 |
341.175 |
|
|
4.34
% |
8.25
% |
10.09
% |
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 |
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 |
Corporate Information
The Company is a private limited company incorporated on 19th June 2007 under the Companies Act, 1956 (‘the Act’). The Company is into the business of manufacture of compressors, portable power equipment and machines used in infrastructure and construction industries. The company is also engaged in trading of skid steer loaders and its attachments and related spares. The Company is a wholly owned subsidiary of Doosan International South East Asia Pte. Limited, Singapore.
Brief description of the Company’s working
during the year/State of Company’s affair:
The Company has earned a total revenue of INR 3535.185 million from continuing operations as against the total revenue of INR 2618.752 million of previous year of the same segment. The Company has earned a net profit after tax of INR 341.175 million as against the net profit after tax of INR 210.871 million.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C42305367 |
10546755 |
The Hongkong and Shanghai Banking Corporation Limited |
22/01/2015 |
- |
- |
31200000.0 |
NO 30RAJAJI SALAI CHENNAI TN600001IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 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 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
NKT |
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.