|
|
|
MIRA INFORM REPORT
|
Report No. : |
483907 |
|
Report Date : |
02.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
YUTAKA AUTOPARTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1005, Roots Tower, Plot No.7, District Center, Near Nirman
Vihar Metro Station, Laxminagar, Delhi – 110092 |
|
Tel. No.: |
91-1493-250576 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
55-160180 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1118.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35923DL2007FTC160180 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELY00821C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACY2991H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and assembling of auto components which
primarily includes exhaust system for four wheelers and brake disc for two
wheelers. (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 3700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Yutaka Giken Co. Limited”, Japan.
The company was incorporated in the year 2007. It is engaged in manufacturing of Auto parts. For the financial year 2017, the company has reported decline in its
revenue as compared to previous year but has managed to maintain profit
margin of 4.16%. The moderate financial profile of the company is marked by low reserve
base as compared to its capital. However, rating takes into consideration strong debt coverage
indicators due to debt free balance sheet profile. Rating also takes into account the strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. Business is active. 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 |
|
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 : |
1005, Roots Tower, Plot No.7, District Center, Near Nirman
Vihar Metro Station, Laxminagar, Delhi – 110092, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9672970605 (Mr. Naveen Aggarwal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Works: |
SPL 2C, Honda Components Suppliers, Tapukara Industrial Area, Khushkhera, Bhiwadi, Alwar Road, Bhiwadi, District Alwar – 301707, Rajasthan, India |
|
Tel. No.: |
91-1493-250578-79 |
|
Fax No.: |
91-1493-250580 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Masao Sasaki |
|
Designation : |
Director |
|
Address : |
Flat No. J 401, Central Park 1, Sector 42, Gurugram -
122002, Haryana, India |
|
Date of Birth/Age : |
03.07.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.2014 |
|
DIN No.: |
06868489 |
|
|
|
|
Name : |
Keiichi Goto |
|
Designation : |
Director |
|
Address : |
Flat No. 601B, Orlav Court-IV, Essel Towers, MG Road,
Gurugram - 122001, Haryana, India |
|
Date of Birth/Age : |
21.07.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.08.2015 |
|
DIN No.: |
07152645 |
|
|
|
|
Name : |
Yoshihide Kageyama |
|
Designation : |
Director |
|
Address : |
Flat No. J 401, Central Park 1, Sector 42, Gurugram -
122002, Haryana, India |
|
Date of Appointment : |
25.04.2017 |
|
DIN No: |
07803560 |
KEY EXECUTIVES
|
Name : |
Manasendu Nayak |
|
Designation : |
Company Secretary |
|
Address : |
970/29, Krishna Colony, Gurugram - 122001, Haryana, India |
|
Date of Appointment : |
01.03.2008 |
|
PAN No.: |
ADSPN4317J |
|
|
|
|
Name : |
S. Behera and Company |
|
Designation : |
Company Secretary |
|
Address : |
S-1/3 and 4, 1st Floor, Near Uphaar Cinema, Green Park Extension, New Delhi – 110016, India |
|
Tel. No: |
91-11-41731103 |
|
Mob. No: |
91-9999002490 |
|
Email: |
|
|
Website: |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Yutaka Giken Co. Limited, Japan |
|
111799999 |
|
YS Tech (Thailand) Company Limited (Nominee of Yutaka Giken Company Limited, Japan) |
|
1 |
|
Total |
|
111800000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and assembling of auto components which
primarily includes exhaust system for four wheelers and brake disc for two
wheelers. (Registered
Activity) |
||||||
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|
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|
Products / Services
: |
|
||||||
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||||||
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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 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
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|
Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower-B, DLF Cyber City, Phase- II , Gurugram-122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Yutaka Giken Co. Limited, Japan |
|
|
|
|
Fellow
Subsidiary Company: |
|
CAPITAL STRUCTURE
As on: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
INR 10/- each |
INR 1150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111800000 |
Equity Shares |
INR 10/- each |
INR 1118.000
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 |
1118.000 |
1118.000 |
1118.000 |
|
(b) Reserves and Surplus |
189.658 |
120.541 |
46.041 |
|
(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) |
1307.658 |
1238.541 |
1164.041 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
17.680 |
53.120 |
|
(b) Deferred tax liabilities (Net) |
7.972 |
18.626 |
30.267 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.765 |
4.990 |
3.092 |
|
Total Non-current
Liabilities (3) |
14.737 |
41.296 |
86.479 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
230.945 |
188.304 |
212.814 |
|
(c) Other
current liabilities |
162.999 |
103.086 |
106.266 |
|
(d) Short-term
provisions |
0.332 |
0.062 |
0.307 |
|
Total Current
Liabilities (4) |
394.276 |
291.452 |
319.387 |
|
|
|
|
|
|
TOTAL |
1716.671 |
1571.289 |
1569.907 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
601.716 |
680.493 |
696.313 |
|
(ii)
Intangible Assets |
1.463 |
2.187 |
1.479 |
|
(iii) Tangible assets
capital work-in-progress |
146.862 |
47.414 |
22.791 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
121.276 |
53.800 |
40.316 |
|
(e) Other
Non-current assets |
0.000 |
0.400 |
0.400 |
|
Total Non-Current
Assets |
871.317 |
784.294 |
761.299 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
225.044 |
184.178 |
230.984 |
|
(c) Trade
receivables |
177.582 |
188.276 |
225.736 |
|
(d) Cash and
bank balances |
284.974 |
207.044 |
80.126 |
|
(e)
Short-term loans and advances |
156.372 |
205.735 |
270.043 |
|
(f) Other
current assets |
1.382 |
1.762 |
1.719 |
|
Total
Current Assets |
845.354 |
786.995 |
808.608 |
|
|
|
|
|
|
TOTAL |
1716.671 |
1571.289 |
1569.907 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1660.230 |
1834.547 |
1924.849 |
|
|
Other Income |
25.631 |
18.850 |
25.541 |
|
|
TOTAL |
1685.861 |
1853.397 |
1950.390 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1030.445 |
1165.071 |
1241.916 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(63.551) |
11.934 |
25.310 |
|
|
Employee benefit expense |
93.896 |
112.458 |
93.455 |
|
|
CSR expenditure |
1.996 |
1.337 |
0.000 |
|
|
Other expenses |
380.411 |
313.014 |
312.155 |
|
|
TOTAL |
1443.197 |
1603.814 |
1672.836 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
242.664 |
249.583 |
277.554 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.876 |
8.937 |
15.294 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
237.788 |
240.646 |
262.260 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
130.243 |
124.857 |
116.964 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
107.545 |
115.789 |
145.296 |
|
|
|
|
|
|
|
Less |
TAX |
38.428 |
41.290 |
35.062 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
69.117 |
74.499 |
110.234 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.618 |
0.666 |
0.986 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
17.680 |
35.440 |
35.440 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
107.545 |
115.789 |
145.296 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
107.545 |
115.789 |
145.296 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
39.04 |
37.46 |
42.81 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
9.35 |
9.74 |
8.53 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
81.80 |
58.99 |
62.55 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.08 |
1.36 |
1.20 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.32 |
0.34 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.24 |
0.22 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.01 |
0.04 |
0.08 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.30 |
0.24 |
0.27 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.57 |
0.59 |
0.62 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
49.77 |
27.93 |
18.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
4.16 |
4.06 |
5.73 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
4.03 |
4.74 |
7.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
5.29 |
6.02 |
9.47 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.14 |
2.70 |
2.53 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.57 |
2.07 |
1.81 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.76 |
0.79 |
0.74 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.02 |
0.05 |
0.08 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
2.14 |
2.70 |
2.53 |
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 |
1118.000 |
1118.000 |
1118.000 |
|
Reserves & Surplus |
46.041 |
120.541 |
189.658 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1164.041 |
1238.541 |
1307.658 |
|
|
|
|
|
|
Long-term borrowings |
53.120 |
17.680 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
35.440 |
35.440 |
17.680 |
|
Total
borrowings |
88.560 |
53.120 |
17.680 |
|
Debt/Equity
ratio |
0.076 |
0.043 |
0.014 |
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 |
1924.849 |
1834.547 |
1660.230 |
|
|
|
(4.691) |
(9.502) |
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 |
1924.849 |
1834.547 |
1660.230 |
|
Profit/ (Loss) |
110.234 |
74.499 |
69.117 |
|
|
5.73
% |
4.06
% |
4.16
% |
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 |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
COMPANY OVERVIEW
Subject the
Company was incorporated on 6 March 2007. The Company is a subsidiary of Yutaka
Giken Co. Limited, Japan (‘the Holding company’) and has been incorporated to
carry on the business of manufacturing and assembling of auto components which
primarily includes exhaust system for four wheelers and brake disc for two
wheelers.
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
17.680 |
|
Total |
0.000 |
17.680 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- 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 63.67 |
|
|
1 |
INR 85.90 |
|
Euro |
1 |
INR 76.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.