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MIRA INFORM REPORT
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Report No. : |
482070 |
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Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
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Name : |
CHEMTROLS SOLAR PRIVATE LIMITED (w.e.f. 02.08.2010) |
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Formerly Known
As : |
CHEMTROLS SOFTWARE PRIVATE LIMITED |
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Registered
Office : |
910, Tulsiani Chambers, 212, Nariman Point, Mumbai-400021, Maharashtra |
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Tel. No.: |
91-22-22830636 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
13.04.1993 |
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Com. Reg. No.: |
11-071583 |
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Capital
Investment / Paid-up Capital : |
INR 30.000 Million |
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CIN No.: [Company Identification
No.] |
U74900MH1993PTC071583 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC0472D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject operates in the areas of project development EPC and operation
and maintenances and deals in all solar PV and solar thermal equipment both
machinery and material and connected business. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 178800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1993. It is engaged in power generation
using solar energy. For the financial year 2017, the company has achieved revenue growth
of 6.90% along with an average profit margin of 1.93%. The satisfactory financial risk profile of the company is marked by
adequate net worth base along with negligible debt balance sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 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.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.:91-22-22830636
/ 67151200)
LOCATIONS
|
Registered Office : |
910, Tulsiani Chambers, 212, Nariman Point, Mumbai-400021,
Maharashtra, India |
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Tel. No.: |
91-22-22830636 |
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Fax No.: |
91-22-22873573 |
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E-Mail : |
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Website : |
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Corporate Office : |
Amar Hill, Saki Vihar Road, Powai, Mumbai- 400072,
Maharashtra, India |
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Tel. No.: |
91-22-67151200 |
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Fax No.: |
91-22-67151405 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Nandakumar Kalath |
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Designation : |
Director |
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Address : |
202, Mangal Darshan Turner Road, Bandra (West), Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
02.11.1948 |
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Date of Appointment : |
13.04.1993 |
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DIN No.: |
00041727 |
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Other Directorship:
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Name : |
Mr. Rakesh Kumar Gupta |
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Designation : |
Director |
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Address : |
104 A, Lila Apartments, Yari Road, Versova, Mumbai-400061, Maharashtra, India |
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Date of Birth/Age : |
04.06.1953 |
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Date of Appointment : |
16.02.2002 |
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DIN No.: |
00050139 |
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Other Directorship:
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Name : |
Mr. Anish Rajgopal |
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Designation : |
Director |
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Address : |
Flat No. 803, 8th Floor, Octavius Building Hiranandani, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India |
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Date of Birth/Age : |
05.04.1975 |
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Date of Appointment : |
05.08.2010 |
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DIN No.: |
02893018 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2016
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Names of Shareholders |
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No. of Shares |
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K. Nandakumar |
|
32178 |
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S. A. Nikam |
|
5747 |
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Usha Nandakumar |
|
9738 |
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K. Rajagopal |
|
1165 |
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R. Radhakrishnan |
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1219 |
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Chemtrols Holdings Private Limited, India |
|
96308 |
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Chemtrols Industries Private Limited, India |
|
150667 |
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Anish Rajgopal |
|
2689 |
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Karthika Nandakumar |
|
289 |
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Total |
|
300000 |
AS ON 29.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
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Promoters - Individual/Hindu Undivided Family – Indian |
14.96 |
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Promoters - Bodies corporate |
82.33 |
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Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
2.71 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates in the areas of project development EPC and operation
and maintenances and deals in all solar PV and solar thermal equipment both
machinery and material and connected business. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Financial Institution : |
Fintree Finance Private Limited, A-402, Rajeshri Accord,
Teli Gali Cross Road, Andheri (East), Mumbai-400069, Maharashtra, India |
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Auditors : |
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Name : |
S Raghunath and Company Chartered Accountants |
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Address : |
3/8, Surya Niwas CHS, Colony Road, Next to Axis Bank, Sion (West),
Mumbai- 400022, Maharashtra, India |
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PAN No.: |
AMXPS5218F |
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Membership No.: |
034610 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Chemtrols Industries Limited CIN No.: U29299MH1981PTC024757 |
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Ultimate Holding Company : |
Chemtrols Holdings Private Limited CIN No.: U65590MH1992PTC066098 |
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Enterprises in which KMP/ relatives of KMP can exercise significant
influence : |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
300000 |
Equity Shares |
INR 100/- each |
INR 30.000 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
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(a) Share Capital |
30.000 |
30.000 |
30.000 |
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(b) Reserves &
Surplus |
32.591 |
21.753 |
17.330 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
62.591 |
51.753 |
47.330 |
|
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(3) Non-Current
Liabilities |
|
|
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|
(a) long-term borrowings |
1.121 |
0.851 |
0.000 |
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(b) Deferred tax liabilities
(Net) |
0.037 |
0.393 |
0.661 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.036 |
0.887 |
0.959 |
|
Total Non-current
Liabilities (3) |
2.194 |
2.131 |
1.620 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
253.268 |
203.964 |
199.404 |
|
(c) Other current
liabilities |
31.232 |
16.116 |
59.239 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
284.500 |
220.080 |
258.643 |
|
|
|
|
|
|
TOTAL |
349.285 |
273.964 |
307.593 |
|
|
|
|
|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.119 |
4.315 |
3.462 |
|
(ii) Intangible Assets |
0.049 |
0.069 |
0.112 |
|
(iii) Capital
work-in-progress |
8.093 |
8.093 |
8.094 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
7.244 |
7.244 |
7.244 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.718 |
12.804 |
12.011 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
20.223 |
32.525 |
30.923 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13.183 |
16.196 |
12.858 |
|
(c) Trade receivables |
199.826 |
123.465 |
212.542 |
|
(d) Cash and cash
equivalents |
15.055 |
8.943 |
19.465 |
|
(e) Short-term loans and
advances |
73.222 |
57.308 |
16.530 |
|
(f) Other current assets |
27.776 |
35.527 |
15.275 |
|
Total Current Assets |
329.062 |
241.439 |
276.670 |
|
|
|
|
|
|
TOTAL |
349.285 |
273.964 |
307.593 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
549.613 |
514.137 |
993.155 |
|
|
Other Income |
8.863 |
4.873 |
5.974 |
|
|
TOTAL |
558.476 |
519.010 |
999.129 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
433.250 |
435.788 |
762.107 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.013 |
(3.338) |
35.079 |
|
|
Employees benefits
expense |
34.610 |
27.743 |
31.614 |
|
|
Other expenses |
69.808 |
50.620 |
152.314 |
|
|
TOTAL |
540.681 |
510.813 |
981.114 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
17.795 |
8.197 |
18.015 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.520 |
0.646 |
0.356 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
17.275 |
7.551 |
17.659 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1.550 |
1.396 |
2.190 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
15.725 |
6.155 |
15.469 |
|
|
|
|
|
|
|
Less |
TAX |
5.144 |
1.732 |
3.298 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
10.581 |
4.423 |
12.171 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
21.753 |
17.330 |
5.557 |
|
|
|
|
|
|
|
Add |
Excess/short provision
for earlier years |
0.000 |
0.000 |
(0.380) |
|
|
|
|
|
|
|
Less |
Depreciation
charged to retained earning |
0.000 |
0.000 |
0.018 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
32.334 |
21.753 |
17.330 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
35.27 |
14.74 |
40.57 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.873 |
0.777 |
0.000 |
|
Cash generated from operations |
(1.440) |
(7.208) |
0.022 |
|
Net cash flow from / (used in) operating activities |
3.226 |
(9.775) |
(1.353) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
132.71 |
87.65 |
78.11 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
2.75 |
4.16 |
4.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
213.37 |
170.83 |
95.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.35 |
0.51 |
1.40 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.45 |
0.66 |
1.54 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.82 |
0.81 |
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.03 |
0.03 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.55 |
4.25 |
5.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.20 |
0.24 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
34.22 |
12.69 |
50.60 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
1.93 |
0.86 |
1.23 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.03 |
1.61 |
3.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.90 |
8.55 |
25.72 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
1.10 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.11 |
1.02 |
1.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.18 |
0.19 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.07 |
0.05 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
1.10 |
1.07 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
17.330 |
21.753 |
32.591 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
47.330 |
51.753 |
62.591 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.851 |
1.121 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long term debt |
0.000 |
0.777 |
0.873 |
|
Total borrowings |
0.000 |
1.628 |
1.994 |
|
Debt/Equity ratio |
0.000 |
0.031 |
0.032 |
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 |
993.155 |
514.137 |
549.613 |
|
|
|
(48.232) |
6.900 |
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 |
993.155 |
514.137 |
549.613 |
|
Profit |
12.171 |
4.423 |
10.581 |
|
|
1.23% |
0.86% |
1.93% |
LEGAL
CASE
|
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company is incorporated in 1993 in state of Maharashtra, India. It operates in the areas of project development EPC and operation and maintenances and deals in all solar PV and solar thermal equipment both machinery and material and connected business.
OPERATIONS
The Company continues to strengthen its core business, namely ground mounted and rooftop EPC, and off grid systems by spreading its reach across geographies and appointing more authorized business associates. In addition, the company plans to diversify into project development, specifically for rooftops and ground mounted systems (in the range of 10 MW). Long terms Power Purchase Agreements (PPAs) would be signed with customers who are looking at solar power as a way to reduce their energy bills. Over time the company hopes to build a portfolio of such projects, both roof-rop and ground mounted with marquee customers across India.
Highlights of the
year
- The company continues to be the one of
the market leaders in the commercial/industrial rooftop space in India
with quite a few significant installation across the country.
- The company continues to strengthen its network through appointing authorized business associates across the country.
- The company has focused on profitability this year and as a consequence has improved its profit margins significantly from the previous year.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Satisfaction |
Amount |
Address |
|
1 |
G47131966 |
100106145 |
FINTREE FINANCE PRIVATE LIMITED |
24/05/2017 |
- |
25000000.0 |
A-402, Rajeshri Accord, Teli Gali Cross Road, Andheri – (East), Mumbai-400069, Maharashtra, India |
|
2 |
G32563710 |
10310236 |
CENTRAL BANK OF INDIA |
09/09/2011 |
05/01/2017 |
130000000.0 |
IFB Branch, Ground Floor, Chandermukhi, Nariman Point, Mumbai-400021, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank guarantees issued by banks |
0.095 |
4.015 |
|
Total |
0.095 |
4.015 |
FIXED ASSETS:
Tangible Asset:
- Plant and
Machinery
- Office
equipment
- Computer
- Motor
Vehicles
Intangible Asset:
- Computer software
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 63.93 |
|
|
1 |
INR 86.07 |
|
Euro |
1 |
INR 76.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.