|
|
|
MIRA INFORM REPORT
|
Report No. : |
483304 |
|
Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BRIDGESTONE INDIA AUTOMOTIVE PRODUCTS PRIVATE LIMITED (w.e.f.
13.08.2012) |
|
|
|
|
Formerly Known
As : |
BRIDGESTONE TVS INDIA PRIVATE LIMITED (w.e.f. 28.07.2009) NS ANTIVIBRATION PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 136, Vaipur B Block, Eraiyur Village, Mathur Post, Sriperumbuthur Taluk,
Kanchipuram District, Chennai-602105, Tamilnadu |
|
Tel. No.: |
91-44-27152500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2016 |
|
|
|
|
Date of
Incorporation : |
06.10.2008 |
|
|
|
|
Com. Reg. No.: |
18-069492 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 75.239 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999TN2008PTC069492 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
GSTIN/UIN: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN8800A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of manufacturing and selling of
anti-vibration products for automotive industry. (Registered Activity) |
|
|
|
|
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 860000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 2008. It is a subsidiary of
Bridgestone Corporation, Japan. The company is engaged in the business of manufacturing and selling of
anti-vibration products for automotive industry. As per the financial of 2016, the company has reported a decline in
its revenue and has incurred operational losses. The company possesses healthy financial position marked by above
average net worth base. Rating takes into consideration the strength that the company derives
from its holding company and its experienced management team. Business is active. Payments are reported to be regular and as per
commitment. In view of aforesaid, the company can be considered good for normal
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 01.01.2018
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/Factory1 : |
No. 136, Vaipur B Block, Eraiyur Village, Mathur Post, Sriperumbuthur
Taluk, Kanchipuram District, Chennai-602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27152500 |
|
Fax No.: |
91-44-27173517 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2: |
Plot No.11, Sector 3, IMT Manesar, Gurugram - 122050, Haryana, India |
|
Tel. No.: |
91-124-4550800 |
|
Fax No.: |
91-124-4388846 |
|
E-Mail : |
DIRECTORS
AS ON 31.12.2017
|
Name : |
Mr. Shigeru Kamifuku |
|
Designation : |
Director |
|
Address : |
Flat No. B-2301, 23rd Floor, Greenwood, Hiranandani
Upscale, Navalur, Kanchipuram – 603103, Tamilnadu, India |
|
Date of Appointment : |
29.01.2016 |
|
DIN No.: |
07400147 |
|
|
|
|
Name : |
Mr. Govinda Rajan Parthasarathy |
|
Designation : |
Director |
|
Address : |
No.10-C, Ramaniyam Gallary, Old No.18/1, New No.63, East
Coast Road, Thiruvanmiyu R, Chennai – 600041, Tamilnadu, India |
|
Date of Appointment : |
28.03.2014 |
|
DIN No.: |
01051735 |
|
|
|
|
Name : |
Mr. Hiromi Tanigawa |
|
Designation : |
Director |
|
Address : |
A-80 To A-93, Near Mitm College Village, Pigdambar, Rau
Indore – 453331, Madhya Pradesh, India |
|
Date of Birth/Age : |
02.08.1961 |
|
Date of Appointment : |
01.08.2017 |
|
DIN No.: |
02383315 |
|
|
|
|
Name : |
Mrs. Hiroshi Harashima |
|
Designation : |
Director |
|
Address : |
1-24-5, Nakao, Asahi-Ku, Yakohama 2410815, Japan |
|
Date of Appointment : |
25.03.2017 |
|
DIN No.: |
07775996 |
|
|
|
|
Name : |
Mr. Nobuhito Ando |
|
Designation : |
Director |
|
Address : |
3-5-2 Nishi Narashino Funabashi 1650035 Japan |
|
Date of Appointment : |
13.04.2017 |
|
DIN No.: |
07793403 |
KEY EXECUTIVES
|
Name : |
Mr. Ravirama Chandran |
|
Designation : |
Company Secretary |
|
Address : |
D47,Red Cross Road, Shanmugapuram, Palani – 624601, Tamilnadu, India |
|
Date of Appointment : |
23.05.2017 |
|
PAN No.: |
AIXPC8408R |
MAJOR SHAREHOLDERS
AS ON 31.12.2016
|
Names of Shareholders |
No. of Shares |
|
|
Bridgestone Corporation, Japan |
|
7523879 |
|
Bridgestone Corporation, Japan and Mr. Shigeru Kamifuku |
|
15 |
|
Bridgestone Corporation, Japan and Mr. Tsuyoshi Taniguchi |
|
12 |
|
Bridgestone Corporation, Japan and Mr. Yoichi Ohira |
|
10 |
|
Total |
|
7523916 |
Equity Share Break up (Percentage of Total Equity)
AS ON 21.04.2017
|
Category |
Percentage |
|
Public/Other than promoters- Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing and selling of
anti-vibration products for automotive industry. (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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Haskins and Sells ASV N Ramana Towers , 52, Venkatanarayana Road, T. Nagar, Chennai-600017, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFS2783G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
· Bridgestone Corporation, Japan |
|
|
|
|
Fellow Subsidiary Company: |
· Bridgestone Logistics Co Limited · Bridgestone NCR Co Limited · P T Indokarlo Perkasa · Bridgestone Engineered Products of Asia Sdn · Bridgestone Treasury Singapore Pte Limited |
CAPITAL STRUCTURE
AS ON 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7523916 |
Equity Shares |
INR 10/- each |
INR 75.239 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
75.239 |
75.239 |
58.833 |
|
(b) Reserves and Surplus |
225.056 |
248.165 |
51.299 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
300.295 |
323.404 |
110.132 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
144.249 |
226.440 |
361.043 |
|
(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 |
10.990 |
12.443 |
16.777 |
|
Total Non-current
Liabilities (3) |
155.239 |
238.883 |
377.820 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
461.793 |
249.383 |
368.152 |
|
(b) Trade
payables |
256.971 |
287.378 |
372.989 |
|
(c) Other
current liabilities |
212.654 |
260.535 |
288.498 |
|
(d) Short-term
provisions |
4.493 |
11.384 |
6.741 |
|
Total Current
Liabilities (4) |
935.911 |
808.680 |
1036.380 |
|
|
|
|
|
|
TOTAL |
1391.445 |
1370.967 |
1524.332 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
630.446 |
656.948 |
739.563 |
|
(ii)
Intangible Assets |
5.278 |
4.007 |
9.217 |
|
(iii) Tangible assets
capital work-in-progress |
12.375 |
9.636 |
0.368 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.560 |
2.860 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
112.850 |
137.737 |
141.692 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
764.509 |
811.188 |
890.840 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
164.794 |
165.066 |
149.577 |
|
(c) Trade
receivables |
289.995 |
233.386 |
292.248 |
|
(d) Cash and
bank balances |
51.736 |
64.623 |
114.575 |
|
(e)
Short-term loans and advances |
50.449 |
35.577 |
24.698 |
|
(f) Other
current assets |
69.962 |
61.127 |
52.394 |
|
Total
Current Assets |
626.936 |
559.779 |
633.492 |
|
|
|
|
|
|
TOTAL |
1391.445 |
1370.967 |
1524.332 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2204.421 |
2361.086 |
2475.387 |
|
|
Other Income |
7.332 |
6.593 |
14.332 |
|
|
TOTAL |
2211.753 |
2367.679 |
2489.719 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1199.224 |
1370.820 |
1525.642 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
12.131 |
0.128 |
(12.683) |
|
|
Employee benefit expense |
296.703 |
297.314 |
292.282 |
|
|
Other expenses |
519.900 |
492.095 |
471.795 |
|
|
TOTAL |
2027.958 |
2160.357 |
2277.036 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
183.795 |
207.322 |
212.683 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
60.044 |
63.472 |
101.017 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
123.751 |
143.850 |
111.666 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
146.860 |
140.403 |
134.167 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(23.109) |
3.447 |
(22.501) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(23.109) |
3.447 |
(22.501) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(3.071) |
0.458 |
(2.991) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
157.987 |
216.801 |
0.000 |
|
Cash generated from operations |
40.290 |
155.675 |
282.162 |
|
Net cash flows from (used in) operations |
40.017 |
155.299 |
282.162 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
48.02 |
36.08 |
43.09 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.60 |
10.12 |
8.47 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
78.21 |
76.52 |
89.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.12 |
1.26 |
1.42 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.28 |
0.31 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.89 |
0.91 |
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.54 |
2.14 |
6.62 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.12 |
2.50 |
9.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.16 |
2.07 |
6.80 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.06 |
3.27 |
2.11 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.05) |
0.15 |
(0.91) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.66) |
0.25 |
(1.48) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(7.70) |
1.07 |
(20.43) |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.67 |
0.69 |
0.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.49 |
0.49 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.22 |
0.24 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.15 |
9.21 |
12.39 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.67 |
0.69 |
0.61 |
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 |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
58.833 |
75.239 |
75.239 |
|
Reserves & Surplus |
51.299 |
248.165 |
225.056 |
|
Net
worth |
110.132 |
323.404 |
300.295 |
|
|
|
|
|
|
Long-term borrowings |
361.043 |
226.440 |
144.249 |
|
Short term borrowings |
368.152 |
249.383 |
461.793 |
|
Total
borrowings |
729.195 |
692.624 |
764.029 |
|
Debt/Equity
ratio |
6.621 |
2.142 |
2.544 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2475.387 |
2361.086 |
2204.421 |
|
|
0.000 |
(4.618) |
(6.635) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2475.387 |
2361.086 |
2204.421 |
|
Profit/ (Loss) |
(22.501) |
3.447 |
(23.109) |
|
|
(0.91
%) |
0.15
% |
(1.05
%) |
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 |
No |
|
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 |
Note: Registered office
of the company has been shifted from” TVS Building, 7B West Veli Street, Madurai
-625001, Tamilnadu India” to the present address is.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR:
The Sales for the year 2016 was lower than 2015 by 6%. The Company is in the process of acquiring new business. The efforts are expected to fructify in the year 2018. In the meanwhile the company is focusing on improving its productivity and operational efficiency.
UNSECURED LOANS:
|
Particulars |
31.12.2016 INR In Million |
31.12.2015 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and
advances from related parties |
461.793 |
249.383 |
|
Total |
461.793 |
249.383 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C81297988 |
10209295 |
STANDARD CHARTERED BANK |
12/03/2010 |
- |
03/03/2016 |
452790000.0 |
19RAJAJI SALAICHENNAITN600001IN |
|
2 |
B80541410 |
10218701 |
STATE BANK OF INDIA |
23/04/2010 |
- |
13/07/2013 |
120000000.0 |
INDUSTRIAL FINANCE BRANCH103 ANNA SALAICHENNAITN600002IN |
FIXED ASSETS:
- Plant and Equipment
- Other Pollution Reduction Equipment
- Furniture and Fixtures
- Vehicles
- Motor Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
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 63.92 |
|
|
1 |
INR 86.06 |
|
Euro |
1 |
INR 76.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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.