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MIRA INFORM REPORT
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Report No. : |
484180 |
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Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HAMMOND POWER SOLUTIONS PRIVATE LIMITED [w.e.f. 19.06.2017] |
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Formerly Known
As : |
PETE - HAMMOND POWER SOLUTIONS PRIVATE LIMITED (w.e.f 03.09.2012) PAN ELECTROTECHNIC ENTERPRISES PRIVATE LIMITED |
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Registered
Office : |
D. No. 5-2/222/IP/B, II - Floor, Icon Plaza, Allwyn X-Road, Miyapur, Hyderabad – 500049, Telangana |
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Tel. No.: |
91-40-23812291 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of Incorporation
: |
15.02.1988 |
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Com. Reg. No.: |
36-008310 |
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Capital
Investment / Paid-up Capital : |
INR 30.000 Million |
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CIN No.: [Company Identification
No.] |
U31909TG1988PTC008310 |
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IEC No.: |
Not Divulged |
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GSTIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCP2097C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The principle activity of the Company is to manufacture and sale of
Electrical Distribution and Power Transformers. The Company provides
installation, commissioning and maintenance services to its customers.
[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 |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 755000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Hammond Power Solutions Inc, Canada incorporated in the year 1988. It provides installation, commissioning and maintenance services. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has healthy operational activity marked by good revenue profile along with satisfactory profitability. Rating further takes into consideration, strong parentage, long established track record, healthy financial profile, sound networth base, comfortable cash position and strong debt protection metrics. Trade relations are fair. Business is active. Payments are regular and as per commitment. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: The name of the company has been changed from Pete-Hammond Power Solutions Private Limited to Hammond Power Solutions Private Limited. |
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 |
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 |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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 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. Samba Siearao |
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Designation : |
Accounts Department |
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Contact No.: |
91-9848990192 |
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Name : |
Mr. Linesh |
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Designation : |
Not Divulged |
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Contact No.: |
91-40-23812291 |
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Date : |
02.01.2018 |
LOCATIONS
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Registered Office : |
D. No. 5-2/222/IP/B, II - Floor, Icon Plaza, Allwyn
X-Road, Miyapur, Hyderabad – 500049, Telangana, India |
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Tel. No.: |
91-40-23812291/23813593 |
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Mobile No.: |
Not Available |
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Fax No.: |
91-40-23706741 |
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E-Mail : |
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Website : |
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Factory : |
Plot No - 6A, I.D.A, Phase – 1, Pashammailaram, Patancheru
(M), |
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Tel. No.: |
91-8455-224124/ 224187 |
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Fax No.: |
91-8455-224125 |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Ravi Krishna Kolli |
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Designation : |
Managing Director |
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Address : |
63c, First Floor, Sri Sai Sadan Apartments, Sundarnagar Colony, Hyderabad 500038, Telangana, India |
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Date of Birth/Age : |
31.03.1973 |
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Date of Appointment : |
30.05.2016 |
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DIN No.: |
01733533 |
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Other Directorship:
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Name : |
Mr. Christopher Ross Huether |
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Designation : |
Director |
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Address : |
5123 TWP Road, 1 RR 7 LCD Royal City, Mail Guelph On N1H 6 J4 Ontario N1h6j4, Canada |
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Date of Birth/Age : |
13.04.1957 |
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Date of Appointment : |
27.02.2012 |
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DIN No.: |
05185956 |
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Name : |
Mr. William George Hammond |
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Designation : |
Director |
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Address : |
21 Westmount Rd Guelph On N1h 5h4 Ontario N1h5h4 Canada |
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Date of Birth/Age : |
28.04.1952 |
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Date of Appointment : |
27.02.2012 |
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DIN No.: |
05185965 |
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Name : |
Mr. John Allan Bolton |
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Designation : |
Director |
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Address : |
4, Brown Street, Guelph, Ontario 1P3 Canada |
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Date of Appointment : |
27.09.2016 |
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DIN No.: |
07655853 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
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Kolli Linga Reddy |
450000 |
15.00 |
|
Hammond Power Solutions INC, Canada |
2550000 |
85.00 |
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Total |
3000000 |
100.00 |
AS ON 28.09.2017
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Equity Share
Break up |
Percentage |
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Category |
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Promoters – [Individual/Hindu Undivided Family – Non-resident Indian (NRI)] |
15.00 |
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Promoters – [Individual/Hindu Undivided Family – Foreign National (Other than NRI)] |
85.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The principle activity of the Company is to manufacture and sale of Electrical
Distribution and Power Transformers. The Company provides installation,
commissioning and maintenance services to its customers. [Registered
Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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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Auditors : |
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Name : |
B S R and Associates LLP Chartered Accountants |
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Address : |
Relience Humsafar, IV Floor, Road No.11, Banjara Hills,
Hyderabad-500034, Telangana, India |
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Tel. No.: |
91-40-30465000 |
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Fax No.: |
91-40-30465299 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : [As on 31.03.2016] |
Hammond Power Solutions INC |
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Enterprises where KMP have significant influence : [As on 31.03.2016] |
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CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
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AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
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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 |
234.278 |
207.896 |
183.923 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds |
264.278 |
237.896 |
213.923 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities
(Net) |
10.400 |
10.537 |
0.141 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
4.124 |
4.038 |
0.000 |
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Total
Non-current Liabilities |
14.524 |
14.575 |
0.141 |
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(4) Current Liabilities |
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(a) Short term borrowings |
75.099 |
32.893 |
42.951 |
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(b) Trade payables |
94.529 |
102.164 |
65.129 |
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(c) Other current liabilities |
127.623 |
118.006 |
90.126 |
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(d) Short-term provisions |
12.052 |
6.593 |
4.693 |
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Total
Current Liabilities |
309.303 |
259.656 |
202.899 |
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|
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TOTAL |
588.105 |
512.127 |
416.963 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
113.876 |
120.912 |
92.598 |
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(ii) Intangible Assets |
0.323 |
0.713 |
0.408 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.494 |
3.512 |
3.832 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
116.693 |
125.137 |
96.838 |
|
|
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|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
165.566 |
172.684 |
161.285 |
|
(c) Trade receivables |
236.073 |
139.083 |
115.988 |
|
(d) Cash and cash equivalents |
11.037 |
16.675 |
15.371 |
|
(e) Short-term loans and
advances |
57.797 |
58.167 |
25.914 |
|
(f) Other current assets |
0.939 |
0.381 |
1.567 |
|
Total
Current Assets |
471.412 |
386.990 |
320.125 |
|
|
|
|
|
|
TOTAL |
588.105 |
512.127 |
416.963 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
881.468 |
710.540 |
557.400 |
|
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Other Income |
18.321 |
7.482 |
9.191 |
|
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TOTAL
|
899.789 |
718.022 |
566.591 |
|
|
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|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
673.872 |
533.713 |
370.809 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(10.511) |
(0.248) |
22.871 |
|
|
Conversion charges |
18.666 |
13.437 |
13.136 |
|
|
Employees benefits expense |
79.611 |
81.143 |
75.157 |
|
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Other expenses |
66.568 |
72.975 |
54.339 |
|
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TOTAL
|
828.206 |
701.020 |
536.312 |
|
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|
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|
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
71.583 |
17.002 |
30.279 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
14.891 |
6.883 |
6.412 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
56.692 |
10.119 |
23.867 |
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/
AMORTISATION |
13.590 |
(23.659) |
15.307 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
43.102 |
33.778 |
8.560 |
|
|
|
|
|
|
|
Less |
TAX |
16.720 |
9.805 |
2.770 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
26.382 |
23.973 |
5.790 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Revenue |
21.525 |
153.012 |
58.635 |
|
|
TOTAL
EARNINGS |
21.525 |
153.012 |
58.635 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2.720 |
4.593 |
0.000 |
|
|
Plant and Equipment |
0.000 |
0.653 |
0.527 |
|
|
TOTAL
IMPORTS |
2.720 |
5.246 |
0.527 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
8.79 |
7.99 |
1.93 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
0.000 |
2.135 |
|
Cash generated from operations |
(29.666) |
25.375 |
34.987 |
|
Net cash flow from operating activity |
(35.740) |
22.468 |
29.891 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
97.75 |
71.45 |
75.95 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.73 |
5.11 |
4.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
51.20 |
69.87 |
64.11 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.43 |
0.10 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.63 |
0.14 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.51 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.28 |
0.14 |
0.21 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.17 |
1.09 |
0.95 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.43 |
0.51 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.81 |
2.47 |
4.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
2.99 |
3.37 |
1.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.49 |
4.68 |
1.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.98 |
10.08 |
2.71 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.52 |
1.49 |
1.58 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.99 |
0.83 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.45 |
0.46 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.50 |
1.10 |
1.50 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.52 |
1.49 |
1.58 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
183.923 |
207.896 |
234.278 |
|
Net
worth |
213.923 |
237.896 |
264.278 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
42.951 |
32.893 |
75.099 |
|
Total
borrowings |
45.086 |
32.893 |
75.099 |
|
Debt/Equity
ratio |
0.211 |
0.138 |
0.284 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
557.400 |
710.540 |
881.468 |
|
|
|
27.474 |
24.056 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
557.400 |
710.540 |
881.468 |
|
Profit (Loss) |
5.790 |
23.973 |
26.382 |
|
|
1.04% |
3.37% |
2.99% |
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 |
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: The registered address
of the company has been shifted from “G-9-11, Bhavya Sree Arcade, Erragadda,
Hyderabad -500018, Telangana, India” to the present address.
STATE OF COMPANY’S
AFFAIRS: [As On 31.03.2016]
During the period, the company has earned revenue from operations and
other income of INR 899.789 Million with a net profit of INR 26.382 Million.
COMPANY OVERVIEW
[As On 31.03.2016]
Subject was incorporated on 15 February 1988 in accordance with the provisions
of the Companies Act, 1956. The principle activity of the Company is to
manufacture and sale of Electrical Distribution and Power Transformers. The
Company provides installation, commissioning and maintenance services to its
customers.
UNSECURED LOAN
|
Particular |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Pre-shipment loan |
6.516 |
0.000 |
|
Total |
6.516 |
0.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C52448222 |
90133570 |
STATE BANK OF INDIA |
10/06/1992 |
22/04/1996 |
20/04/2015 |
1480000.0 |
Secunderabad Branch, Sib Division, Secunderabad-500003, Andhra Pradesh, India |
|
2 |
C52449055 |
90135194 |
STATE BANK OF INDIA |
10/08/1990 |
27/06/2011 |
20/04/2015 |
177000000.0 |
Secunderabad Branch, Patny Centre, Beside HPO, Secunderabad-500003, Andhra Pradesh, India |
|
3 |
C45944717 |
10303083 |
PUNJAB NATIONAL BANK |
29/07/2011 |
- |
24/02/2015 |
700000.0 |
Sanathnagar, Deccan Chamber, Serragadda, Hyderabad-500018, Telangana, India |
|
4 |
B21014105 |
10045173 |
PUNJAB NATIONAL BANK |
16/03/2007 |
- |
07/09/2011 |
344000.0 |
Sanathnagar Branch, Sanathnagar, Hyderabad-500018, Telangana, India |
|
5 |
B20993572 |
10045373 |
PUNJAB NATIONAL BANK |
16/03/2007 |
- |
07/09/2011 |
271000.0 |
Sanathnagar Branch, Sanathnagar, Hyderabad-500018, Telangana, India |
|
6 |
B19599802 |
10062508 |
PUNJAB NATIONAL BANK |
12/07/2007 |
- |
06/08/2011 |
340000.0 |
Sanathnagar Branch, Sanathnagar, Hyderabad-500018, Telangana, India |
FIXED ASSETS
Tangible assets
·
Freehold Land
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
·
Computers
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 63.48 |
|
|
1 |
INR 86.41 |
|
Euro |
1 |
INR 76.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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.