|
|
|
MIRA INFORM REPORT
|
Report No. : |
483835 |
|
Report Date : |
02.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
REDA CHEMICALS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.705, 7th Floor, The Summit Business Bay, Pereira Hill Road,
Off Andheri Kurla Road, Andheri, Mumbai – 400099, Maharashtra |
|
Tel. No.: |
91-22-26879478 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
16.08.2011 |
|
|
|
|
Com. Reg. No.: |
11-220981 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 199.548 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2011FTC220981 |
|
|
|
|
IEC No.: |
0311067140 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR4616P |
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|
GSTIN/UIN : |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
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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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 358000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Reda Industrial Materials FZE”, United Arab
Emirates. The company was incorporated in the year 2011. It is a manufacturer of chemicals. For the financial year 2017, the company has achieved 27.34% growth in
its revenue as compared to previous year revenue but has reported in its
revenue as compared to previous year revenue but has reported low profit
margin of 0.13%. The moderate financial profile of the company is marked by negative
reserve base. However, rating takes into consideration equity infused by its
promoters and strong debt coverage indicators due to debt free balance sheet
profile. Rating also takes into count the strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced team. Business is active. Payments are reported to be slow but 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 |
|
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 02.01.2018
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 : |
Unit No.705, 7th Floor, The Summit Business Bay, Pereira Hill Road,
Off Andheri Kurla Road, Andheri, Mumbai – 400099, Maharashtra |
|
Tel. No.: |
91-22-26879478 |
|
Fax No.: |
91-22-26879479 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Rented |
|
|
|
|
Warehouse: |
Arham Anmol Projects Private Limited, Near Presidency School, Nashik Mumbai
Byepass Road, Village Walshind, Bhiwandi, Thane – 421302, Maharashtra,
India |
|
|
|
|
Branch Office 1 : |
511, 5th Floor, Prakash Deep Building, 7 Tolstoy Marg,
Connaught Place, New Delhi – 110001, India |
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|
|
|
Branch Office 2 : |
9-A, Siva Ganga Road, Seetha Nagar, 1st Street,
Nungambakkam, Chennai – 600034, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Karim Smadi |
|
Designation : |
Director |
|
Address : |
Bin Humoodah Real Estate Company, Near Raza Abbas Villa, Al Jumeria
STR DM. 31 Dubai, UAE 332-77 |
|
Date of Birth/Age : |
23.03.1971 |
|
Date of Appointment : |
16.08.2011 |
|
DIN No.: |
03560051 |
|
|
|
|
Name : |
Mr. Tarik Kamal Usmani |
|
Designation : |
Director |
|
Address : |
VPO Raiganj, Ghaziabad – 271 830, Uttar
Pradesh, India |
|
Date of Birth/Age : |
10.08.1963 |
|
Date of Appointment : |
16.08.2011 |
|
PAN No.: |
ACPPU0949K |
|
DIN No.: |
03573668 |
|
|
|
|
Name : |
Mr. Manish Vishnu Khandekar |
|
Designation : |
Director |
|
Address : |
B-502, SO-OM Apartment, Sant Ramdas Marg, Mulund (East),
Mumbai - 400081, Maharashtra, India |
|
Date of Appointment : |
29.06.2015 |
|
PAN No.: |
ALKPK5131D |
|
DIN No.: |
06999266 |
KEY EXECUTIVES
|
Name : |
Ms. Niyati Shah |
|
Designation : |
Secretary |
|
Address : |
602, New Vaishali Co-Operative Hosing Society , Narsing
Lane, Malad (West), Mumbai - 400064,
Maharashtra, India |
|
Date of Appointment : |
10.11.2014 |
|
PAN No: |
BTCPS7879B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Reda Industrial Materials FZE, UAE |
19724843 |
98.85 |
|
Optichem Specialties FZE Earlier know as Organics Processing and Technologies FZE, UAE |
230000 |
1.15 |
|
Total |
19954843 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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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 : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
5th Floor, Kalpataru Heritage, 127, Mahatma Gandhi Road, Fort, Mumbai-400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFK7554R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
Reda Industrial Materials FZE |
|
|
|
|
Fellow Subsidiary
Company : |
Optichem Polymers (Thailand) Company Limited |
CAPITAL STRUCTURE
As on 29.09.2017
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 |
|
|
|
|
|
|
19954843 |
Equity Shares |
INR 10/- each |
INR 199.548
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
199.548 |
192.743 |
142.095 |
|
(b) Reserves & Surplus |
(74.182) |
(74.830) |
(48.858) |
|
(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) |
125.366 |
117.913 |
93.237 |
|
|
|
|
|
|
(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 |
1.360 |
0.902 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.360 |
0.902 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
154.172 |
141.717 |
41.856 |
|
(c) Other current
liabilities |
8.438 |
3.937 |
4.890 |
|
(d) Short-term
provisions |
0.543 |
0.193 |
0.000 |
|
Total Current
Liabilities (4) |
163.153 |
145.847 |
46.746 |
|
|
|
|
|
|
TOTAL |
289.879 |
264.662 |
139.983 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.220 |
0.260 |
0.401 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
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) |
3.585 |
0.000 |
2.015 |
|
(d)
Long-term Loan and Advances |
1.850 |
1.361 |
1.646 |
|
(e) Other Non-current
assets |
0.189 |
0.189 |
0.118 |
|
Total Non-Current
Assets |
5.844 |
1.810 |
4.180 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
101.975 |
81.298 |
40.002 |
|
(c) Trade receivables |
142.548 |
125.945 |
64.106 |
|
(d) Cash
and cash equivalents |
21.028 |
43.487 |
19.636 |
|
(e)
Short-term loans and advances |
18.469 |
12.119 |
12.059 |
|
(f) Other
current assets |
0.015 |
0.003 |
0.000 |
|
Total
Current Assets |
284.035 |
262.852 |
135.803 |
|
|
|
|
|
|
TOTAL |
289.879 |
264.662 |
139.983 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
|
SALES |
|
|
|
|
|
Income |
487.305 |
382.662 |
197.125 |
|
|
Other Income |
7.873 |
0.140 |
0.018 |
|
|
TOTAL |
495.178 |
382.802 |
197.143 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
460.490 |
395.136 |
199.382 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(20.677) |
(41.296) |
(14.915) |
|
|
Employees benefits
expense |
22.368 |
21.432 |
10.979 |
|
|
Other expenses |
35.700 |
31.193 |
22.519 |
|
|
TOTAL |
497.881 |
406.465 |
217.965 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(2.703) |
(23.663) |
(20.822) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.810 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(2.703) |
(23.663) |
(21.632) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.234 |
0.294 |
0.353 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(2.937) |
(23.957) |
(21.985) |
|
|
|
|
|
|
|
Less |
TAX |
(3.585) |
2.015 |
(1.823) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.648 |
(25.972) |
(20.162) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.03 |
(1.56) |
2.16 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(22.174) |
(26.251) |
(21.985) |
|
Net cash flow from operating activity |
(29.027) |
(26.419) |
(21.985) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
106.77 |
120.13 |
118.70 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
3.42 |
3.04 |
3.07 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
122.20 |
130.91 |
76.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.03) |
(0.29) |
(0.52) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(12.29) |
(91.01) |
(51.93) |
LEVERAGE RATIOS
|
PARTICULARS |
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.56 |
0.55 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.30 |
1.24 |
0.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
(25.71) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.13 |
(6.79) |
(10.23) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.22 |
(9.81) |
(14.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.52 |
(22.03) |
(21.62) |
SOLVENCY RATIOS
|
PARTICULARS |
01.04.2016 to 31.03.2017 |
01.01.2015 to 31.03.2016 |
01.01.2014 to 31.12.2014 |
|
|
(12 Months) |
(15
Months) |
(12 Months) |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.74 |
1.80 |
2.91 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.12 |
1.24 |
2.05 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.43 |
0.45 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.74 |
1.80 |
2.91 |
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 |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
142.095 |
192.743 |
199.548 |
|
Reserves & Surplus |
(48.858) |
(74.830) |
(74.182) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
93.237 |
117.913 |
125.366 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long term debt |
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 |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
197.125 |
382.662 |
487.305 |
|
|
|
94.121 |
27.346 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2014 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
197.125 |
382.662 |
487.305 |
|
Profit/(Loss) |
(20.162) |
(25.972) |
0.648 |
|
|
(10.23%) |
(6.79%) |
0.13% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 about three
financial years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about three
financial 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 |
COMPANY BACKGROUND
The company incorporated in Mumbai on 16th August 2011 under the Indian Companies Act, 1956. The Company has commenced business of trading in chemical and also provides marketing research activities. The Company is a subsidiary of Reda Industrial Materials FZE UAE, the holding company which holds 98.85 % of the paid up capital and the balance 1.15 % is held by Organics Processing and Technology FZE.
The figures for the previous accounting period are for a period of 15 months from January 1, 2015 to March 31, 2016, and are consequently not comparable with the figures of the current year, to that extent.
INDEX
OF CHARGES
|
Charges Registered |
||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
G52959020 |
100127639 |
HDFC BANK LIMITED |
25/01/2017 |
100000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
FIXED ASSETS
- Furniture and fixtures
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 63.66 |
|
|
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUD |
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.