|
|
|
MIRA INFORM REPORT
|
Report No. : |
484371 |
|
Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHAND FRUIT COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Gat No. 154, 2A + 2B, Bagwan Agriculture Farm, Takli Road, Miraj, Sangli
- 416410, Maharashtra |
|
Tel. No.: |
91-233-2222199/ 2228532 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.08.1999 |
|
|
|
|
Com. Reg. No.: |
11-013907 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 5.768 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01122PN1999PTC013907 |
|
|
|
|
IEC No.: |
0319903354 |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC3968Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in export of fruits and vegetables and generation of electricity. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1999 and it is engaged in
export of fruits and vegetables and generation of electricity. As per financials of March 2017, the company has registered a growth of
4.13% in its revenue as compared to its previous year’s revenue and has
reported average profit margin of 1.77%. Rating takes into consideration the company’s moderate financial risk
profile along with unfavorable gap between its trade payables to its trade
receivables and average liquidity position. Rating is further constrained on account of large working capital
requirement and vulnerability of turnover and operating margin to fluctuation
in raw material prices and foreign exchange rates. However, rating weakness is partially offset by established track
record of business operations and the extensive experienced of promoters in
trading in fruits and vegetables. Payments are reported to be slow but correct. In view of aforesaid, he company can be considered for business
dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term rating (A4+) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
December 29, 2017 |
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 04.01.2018
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 BY
|
Name : |
Mr. Nasir Mohamedsafi Bagwan |
|
Designation : |
Director |
|
Contact No.: |
91-9422041911 |
|
Date : |
04.01.2018 |
91-233-2222199-Ringing
LOCATIONS
|
Registered Office : |
Gat No. 154, 2A + 2B, Bagwan Agriculture Farm, Takli Road, Miraj, Sangli
- 416410, Maharashtra, India |
|
Tel. No.: |
91-233-2222199/ 2228532 |
|
|
91-9422041911 (Mr. Nasir Mohamedsafi Bagwan) |
|
Fax No.: |
91-233-2223279 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office: |
APMC Fruit Market Yard, Sector-19, Gala No- J-441, Turbhe, Navi Mumbai-400 703, Maharashtra, India |
|
Tel. No.: |
91-22-2783 1662 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Shafibhai Hajichand Bagwan |
|
Designation : |
Director |
|
Address : |
2349, Guruwar Peth, Miraj, Sangli – 416 410, |
|
Date of Birth/Age : |
02.10.1949 |
|
Date of Appointment : |
11.08.1999 |
|
Permanent Account
Number: |
ABPPB3578E |
|
Qualification: |
4th STD |
|
DIN No.: |
01825414 |
|
|
|
|
Name : |
Mr. Nasir Mohamedsafi Bagwan |
|
Designation : |
Director |
|
Address : |
Bagwan Agri Farm, |
|
Date of Birth/Age : |
12.05.1971 |
|
Date of Appointment : |
11.08.1999 |
|
PAN No.: |
AATPB9193L |
|
Qualification: |
10th STD |
|
DIN No.: |
01494663 |
|
|
|
|
Name : |
Mr. Bashir Ahmed Shafi Bagwan |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
11.02.1976 |
|
Date of Appointment : |
05.11.1999 |
|
PAN No.: |
AGLPB0837D |
|
Qualification: |
Graduate |
|
DIN No.: |
01657181 |
|
|
|
|
Name : |
Mr. Yunus Ahmed Shafi Bagwan |
|
Designation : |
Director |
|
Address : |
2349, Guruwar Peth, Miraj, Sangli – 416 410, |
|
Date of Birth/Age : |
28.11.1973 |
|
PAN No.: |
AATPB9141J |
|
Qualification: |
10th STD |
|
Date of Appointment : |
11.08.1999 |
|
DIN No.: |
01662589 |
KEY EXECUTIVES
|
Name : |
Supriya Talwalkar and Company |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.9, Ameya C.H.S. Plot No.19, Sr. No.119/1, Anant Krupa Housing Society,
Janata Sahakari Bank Lane, Paud Road, Kothrud, Pune – 411038, Maharashtra,
India |
|
Mob. No: |
91-9822530986 |
|
Email: |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Shafiahmed H. Bagwan |
419300 |
72.69 |
|
Nasir M. Bagwan |
46800 |
8.11 |
|
Yunus S. Bagwan |
70000 |
12.14 |
|
Bashir S. Bagwan |
40700 |
7.06 |
|
Total |
576800 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in export of fruits and vegetables and generation of electricity. (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
|
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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Auditors : |
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|
Name : |
Khire, Khandekar and Kirloskar Chartered Accountants |
|
Address : |
1051, Madhav Nagar Road, Norh Shivajinagar, Sangali-416416, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFK5801E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Promoters holding
together with subsidiaries is more than |
|
CAPITAL STRUCTURE
As on: 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650000 |
Equity Shares |
INR 10/- each |
INR 6.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
576800 |
Equity Shares |
INR 10/- each |
INR 5.768 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 |
5.768 |
5.768 |
5.768 |
|
(b) Reserves and Surplus |
232.932 |
217.005 |
204.818 |
|
(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) |
238.700 |
222.773 |
210.586 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
12.029 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
11.253 |
17.821 |
10.889 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
11.253 |
29.850 |
10.889 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
116.588 |
120.542 |
82.779 |
|
(b) Trade
payables |
278.837 |
217.054 |
172.229 |
|
(c) Other
current liabilities |
1.121 |
1.086 |
0.758 |
|
(d) Short-term
provisions |
7.344 |
2.717 |
3.066 |
|
Total Current
Liabilities (4) |
403.890 |
341.399 |
258.832 |
|
|
|
|
|
|
TOTAL |
653.843 |
594.022 |
480.307 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
97.204 |
72.939 |
72.213 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
33.299 |
15.593 |
|
(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 |
15.239 |
16.031 |
7.100 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
112.443 |
122.269 |
94.906 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
134.177 |
68.845 |
57.834 |
|
(c) Trade
receivables |
355.632 |
355.117 |
289.505 |
|
(d) Cash and
bank balances |
19.063 |
23.187 |
20.344 |
|
(e) Short-term
loans and advances |
32.528 |
24.604 |
17.718 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
541.400 |
471.753 |
385.401 |
|
|
|
|
|
|
TOTAL |
653.843 |
594.022 |
480.307 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
900.064 |
864.340 |
745.073 |
|
|
Other Income |
16.183 |
26.955 |
22.228 |
|
|
TOTAL |
916.247 |
891.295 |
767.301 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
691.681 |
638.762 |
530.754 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(45.571) |
(8.479) |
3.885 |
|
|
Employee benefit expense |
8.791 |
8.192 |
22.312 |
|
|
Other expenses |
235.138 |
220.984 |
175.688 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
(9.118) |
|
|
TOTAL |
890.039 |
859.459 |
723.521 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
26.208 |
31.836 |
43.780 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.007 |
3.607 |
1.641 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.201 |
28.229 |
42.139 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.842 |
9.111 |
12.116 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
10.359 |
19.118 |
30.023 |
|
|
|
|
|
|
|
Less |
TAX |
(5.568) |
6.932 |
14.962 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
15.927 |
12.186 |
15.061 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
895.685 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
27.61 |
21.13 |
26.11 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
14.505 |
(11.119) |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
19.073 |
(18.051) |
30.023 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
144.22 |
149.96 |
141.82 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.53 |
2.43 |
2.57 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
147.14 |
124.03 |
118.44 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.20 |
0.46 |
0.76 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.27 |
0.30 |
0.50 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.62 |
0.59 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.49 |
0.60 |
0.39 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.69 |
1.53 |
1.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.41 |
0.48 |
0.42 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
8.72 |
8.83 |
26.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.77 |
1.41 |
2.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.44 |
2.05 |
3.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.67 |
5.47 |
7.15 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.34 |
1.38 |
1.49 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.01 |
1.18 |
1.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.37 |
0.38 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
20.21 |
22.98 |
14.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.34 |
1.38 |
1.49 |
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 |
5.768 |
5.768 |
5.768 |
|
Reserves & Surplus |
204.818 |
217.005 |
232.932 |
|
Net
worth |
210.586 |
222.773 |
238.700 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
12.029 |
0.000 |
|
Short term borrowings |
82.779 |
120.542 |
116.588 |
|
Total
borrowings |
82.779 |
132.571 |
116.588 |
|
Debt/Equity
ratio |
0.393 |
0.595 |
0.488 |
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 |
745.073 |
864.340 |
900.064 |
|
|
|
16.007 |
4.133 |
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 |
745.073 |
864.340 |
900.064 |
|
Profit |
15.061 |
12.186 |
15.927 |
|
|
2.02% |
1.41% |
1.77% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
Yes |
|
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 |
OPERATING REVIEW/ BUSINESS
PERFORMANCE:
The company has reported total income of INR 916.247 million for the current year as compared to INR 891.295 million in the previous year. The Net Profit for the year amounted to INR 15.927 million in the current year as compared to INR 12.186 million in the previous year.
CORPORATE
INFORMATION:
Subject the Company is a public company domiciled in India and incorporated under the provisions of the Companies Act, 2013. Company is engaged in export of fruits and vegetables and generation of electricity.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Deposits from others |
0.303 |
0.303 |
|
Other loans and advances, others |
2.170 |
2.447 |
|
Total |
2.473 |
2.750 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A28994135 |
10079976 |
Industrial Development
Bank of India |
19/12/2007 |
- |
- |
32500000.0 |
Miraj
Branch, Miraj-416410, Maharashtra, India |
|
2 |
C53105730 |
90092409 |
IDBI Bank
Limited |
31/12/2003 |
28/04/2015 |
- |
120000000.0 |
Office-IDBI
Tower, Cuffe Parade, Mumbai-400005, Maharashtra, India |
FIXED ASSETS
- Land
- Building
- Furniture and Fixture
- Computer
- Plant and Machinery
- Vehicle
- Office equipment
- Computer Accessories
- Air Conditioner
- Computer Software
- Bridges roads ports culverts
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 63.48 |
|
|
1 |
INR 86.41 |
|
Euro |
1 |
INR 76.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
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.